Woven Planet to acquire Lyft’s self-driving car division for $550m.

Woven Planet, a mobility solutions firm, agreed to acquire the self-driving car division from Lyft, a provider of online ridesharing services, for $550m. The transaction is expected to close in the third quarter of 2021, subject to the receipt of required regulatory approvals and customary and other closing conditions. “This acquisition assembles a dream team of world-class engineers and scientists to deliver safe mobility technology for the world. The Woven Planet team, alongside the team of researchers at Toyota Research Institute, have already established a center of excellence for software development, automated driving, and advanced safety technology within the Toyota Group. I am absolutely thrilled to welcome Level 5’s world-class engineers and experts into our company, which will greatly strengthen our efforts,” James Kuffner, Woven Planet CEO.