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Lyft Announces New Round of Autonomous Partnerships

Business Wire 6-Nov-2024 9:00 AM

Lyft to join forces with Mobileye, May Mobility, and Nexar to connect riders to AVs

Lyft, Inc. (NASDAQ:LYFT), one of North America's largest transportation networks, announced plans for multiple autonomous vehicle (AV) partnerships to connect the Lyft community with future AV rides in the Lyft app.

Today, Lyft is announcing its next step in delivering AVs to millions of people. Lyft and Mobileye, a leader in self-driving tech and advanced driver assistance systems (ADAS) plan to bring AVs to the Lyft network. Through this partnership, Lyft will make its scaled rideshare platform available to all vehicles with Mobileye's self-driving technology. Vehicles equipped with Mobileye Drive technology will hit the road "Lyft-ready" — giving small and large fleet operators seamless access to Lyft's platform and network of riders to optimize their vehicles.

Beyond pioneering a new distribution channel for AVs through its alliance with Mobileye, Lyft is solving for other key parts of the AV value chain with May Mobility and Nexar.

  • May Mobility will directly deploy AVs to the Lyft platform in Atlanta starting in 2025. Atlanta riders will have the opportunity to be matched with a fleet of autonomous Toyota Sienna minivans equipped with May Mobility's autonomous technology, a deployment that Lyft and May Mobility aim to scale over time across multiple markets.
  • Nexar and Lyft will explore ways to harness the power of aggregated, anonymized marketplace and fleet data to help OEMs and AV companies build better and safer autonomous technology. By pairing Lyft data with Nexar's hundreds of millions of hours of video footage, we can jointly contribute to a more complete data set for autonomous research and development.

"We're thrilled to work with Mobileye, May Mobility, and Nexar to build the autonomous future together, with more partnerships to follow," said David Risher, CEO of Lyft. "Lyft's aim is to connect AVs, drivers, riders, and partners to create new opportunities for all. Our rideshare network will continue to evolve as millions of people will have the opportunity to earn billions of dollars whether they choose to drive, put their AVs into service, or both."

"Cooperating with leading mobility providers and operators is an essential step to bring autonomous mobility services to reality," said Prof. Amnon Shashua, President and CEO of Mobileye. "Enabling Mobileye Drive with Lyft's network of 40 million annual riders in North America would allow our AV customers to reach new markets and geographies with autonomous services and provide the benefits of the technology through a sustainable business."

Lyft's rideshare network offers an easy and fast way for AVs to scale, and for partners to monetize their technology. The platform gives AV partners access to 40 million riders annually, and provides robust fleet management capabilities that streamline on-boarding, off-boarding, and vehicle servicing. The revolutionary "Lyft-ready" model is a turnkey solution, empowering partners to seamlessly deploy AVs to Lyft's marketplace, effectively commercialize these deployments, and maximize their vehicle utilization.

Lyft will continue to partner with additional industry leaders to shape the future of mobility. See here for more information on Mobileye, May Mobility, and Nexar.

About Lyft

Whether it's an everyday commute or a journey that changes everything, Lyft is driven by our purpose: to serve and connect. In 2012, Lyft was founded as one of the first ridesharing communities in the United States. Now, millions of drivers have chosen to earn on billions of rides. Lyft offers rideshare, bikes, and scooters all in one app — for a more connected world, with transportation for everyone.

Forward-Looking Statements

Certain statements contained in this press release are "forward-looking statements" about Lyft within the meaning of the securities laws, including statements about Lyft's autonomous vehicle strategy and partnerships and related plans, expectations, technologies, benefits for drivers and riders, and an AV pilot program launch. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Lyft's filings with the Securities and Exchange Commission. Lyft does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.

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