https://techcrunch.com/2021/04/26/lyft-sells-self-driving-unit-to-toyotas-woven-planet-for-550m/

Ride-hailing company Lyft has sold off its autonomous vehicle unit to Toyota’s Woven Planet Holdings subsidiary for $550 million, the latest in a string of acquisitions spurred by the cost and lengthy timelines to commercialize the technology that have occurred within the autonomous vehicle industry.

Under the acquisition agreement announced Tuesday, Lyft’s so-called Level 5 division will be folded into Woven Planet Holdings. Lyft will receive $550 million in cash with $200 million paid upfront. The remaining $350 million will be made in payments over five years. About 300 people from Lyft Level 5 will be integrated into Woven Planet. The Level 5 team, which in early 2020 numbered more than 400 people in the U.S., Munich and London, will continue to operate out of its office in Palo Alto, California.