Today, we’re excited to announce a first-of-its-kind partnership with Magna, the largest North American Tier 1 automotive technology and manufacturing supplier, to jointly fund, develop, and manufacture our self-driving system. In addition to co-funding the partnership, Magna will also invest $200 million in Lyft. This partnership enables our Level 5 team to accelerate the introduction… Continue reading Lyft Partners with Magna to Scale Self-Driving Technology
Tag: Lyft
Press Release – Magna and Lyft Announce a Multi-Year Partnership to Develop and Manufacture Self-Driving Systems at Scale
Please click HERE for a PDF version of the release. Magna and Lyft will fund and develop self-driving systems Co-developed self-driving systems can be deployed on the Lyft network as well as for the entire automotive industry The partnership will benefit from data generated by the 5+ billion miles traveled per year on the Lyft… Continue reading Press Release – Magna and Lyft Announce a Multi-Year Partnership to Develop and Manufacture Self-Driving Systems at Scale
Auto parts maker Magna invests $200 million in Lyft
(Reuters) – Canadian automotive parts supplier Magna International Inc said on Wednesday it will invest $200 million in Lyft Inc and work with the U.S. ride-hailing firm to manufacture self-driving cars. FILE PHOTO – An illuminated sign appears in a Lyft ride-hailing car in Los Angeles, California, U.S. September 21, 2017. REUTERS/Chris Helgren The news… Continue reading Auto parts maker Magna invests $200 million in Lyft
Lyft says it passed $1 billion in GAAP revenue in 2017
Ride hailing company Lyft says it booked over $1 billion in GAAP revenue for 2018, and showed revenue growth of 168% in Q4 versus the prior year’s quarter. That growth is nearly 3 times as fast as Uber, which saw a 61% increase in revenue in Q4 vs a year ago. It’s also claiming 10… Continue reading Lyft says it passed $1 billion in GAAP revenue in 2017
Lyft says its revenue is growing nearly 3x faster than Uber’s
Lyft made a lot of progress in 2017, helped by strong market expansion within the U.S., and riding some very bad news from its primary rival Uber. That’s helped it grow revenue to over $1 billion as measured by GAAP standards for its fiscal 2017, with a particularly strong Q4 during which its revenue outpaced… Continue reading Lyft says its revenue is growing nearly 3x faster than Uber’s
Update: Bird has raised $100 million to become the Uber of electric scooters
Update: Bird confirmed our reporting with an announcement of the close of the round. Index Ventures and Valor Ventures led the funding. “It feels like investing in Uber when it first launched.” That’s what one investor said of the hot new Santa Monica, Calif.-based startup, Bird — an electric scooter company that’s now in the… Continue reading Update: Bird has raised $100 million to become the Uber of electric scooters
Bird is raising $100 million to become the Uber of electric scooters
“It feels like investing in Uber when it first launched.” That’s what one investor said of the hot new Santa Monica, Calif.-based startup, Bird — an electric scooter company that’s now in the process of raising as much as $100 million on a $300 million valuation, according to several people with knowledge of the company’s… Continue reading Bird is raising $100 million to become the Uber of electric scooters
May Mobility CEO: We’ll Beat Waymo, Uber, and Cruise to Market
When we spoke with Ed Olson, CEO of May Mobility, in January, he told us that his driverless-vehicle company had raised a little over $11 million in seed funding in 2017. Last week, May disclosed more details about its $11.5 million seed round: it was led by venture investment arms of Toyota and BMW, and… Continue reading May Mobility CEO: We’ll Beat Waymo, Uber, and Cruise to Market
Uber considers Waymo partnership following lawsuit
REUTERS Now that Waymo’s long-running lawsuit against Uber is finally settled, the two companies are free to cozy up to a possible partnership. According to a report at The Information, Uber executives, led by new CEO Dara Khosrowshahi, have been looking for a way to get Uber riders into Waymo‘s autonomous cars. Even though Waymo… Continue reading Uber considers Waymo partnership following lawsuit
Maven brings its Maven Gig service for on-demand economy workers to Austin
Maven has launched its Maven Gig offering in Austin, just ahead of SXSW when there will probably be a fair amount of ride-hailing and on-demand food delivery activity. Maven Gig is the arm of GM’s Maven mobility brand that caters specifically to gig economy workers, with cars available to freelancers who drive only occasionally, and… Continue reading Maven brings its Maven Gig service for on-demand economy workers to Austin