- General
- October 3, 2020
- 4 minutes read
Lyft, Bosch In Partnership Talks
Lyft CEO Logan Green. Photo credit: JD Lasica on Flickr, under Creative Commons license Ride-hailing company Lyft has held talks…
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| Lyft CEO Logan Green.
Photo credit: JD Lasica on Flickr, under Creative Commons license
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Ride-hailing company Lyft has held talks with Bosch, the German engineering multinational, concerning a self-driving technology partnership between both companies that could lead to an investment from Bosch, according to a report [paywall] from The Information. According to The Information, Lyft has considered selling a stake in its self-driving division to an outside company such as Bosch, which itself already has a sizeable self-driving division with facilities in Silicon Valley.
Lyft, like its counterpart Uber, has sizeable self-driving operations. In the past, the ride-hailing company has teamed up with companies including auto parts giant Aptiv and Alphabet’s self-driving arm Waymo. Although Lyft has teamed up with outsiders, the company hasn’t offered any stake in its self-driving arm as a separate subsidiary to investors before now, notably unlike Uber whose self-driving division raised $1 billion from a group of outside investors in April last year. Now, Lyft is reported to be considering selling a stake to an outsider like Bosch.
Bosch is a German engineering multinational that does major automated driving work. The company has partnered with automakers such as Daimler, Toyota, GM, and Denso as well as companies like Baidu and Nvidia for self-driving work. Lyft would surely find value in such company by partnering with Bosch, making it not surprise that the ride-hailing company is seeking a possible tie-up there.
