Through its mobility solutions subsidiary Woven Planet Holdings, Toyota acquired for $ 550 million Level 5, the autonomous driving division of Lyft, one of the largest shared transport companies in the world.
This operation will bring together the talent and technology of both companies to accelerate the arrival of the autonomous car. Thus, scientists and software engineers from Level 5, Woven Planet and Toyota Research Institute will work together, adding about 1.200 people to create one of the groups "More diverse, endowed with resources and talent" in this ambit.
In addition to the Level 5 acquisition, Woven Planet and Lyft have signed commercial agreements to use the Lyft system and its fleet data to accelerate the safety and commercialization of the autonomous driving technology that Woven Planet will develop.
Of the $ 550 million, some 200 million will be paid in advance, while the others 350 million they will be paid in the next five years.
“This acquisition advances our mission to develop the safest mobility in the world at scale. The Woven Planet team has already developed software and technology in the Toyota group. With Level 5 we will have more speed and a greater impact ”, said James Kuffner, CEO of Woven Planet.
For his part, Lyft's Vice President of Autonomous Technology, Luc Vincent, showed his excitement for reaching this agreement, which allows Level 5 "To be better positioned than ever to fulfill its mission of launching autonomous vehicles."