Lyft has sold its self-driving division to a Toyota subsidiary called Woven Planet for $550 million—the latest sign that it takes deep pockets to compete in the self-driving arena. Lyft’s main competitor, Uber, sold its own self-driving unit to the well-financed startup Aurora back in December.
Lyft announced its self-driving project back in 2017, a time of extreme optimism about self-driving technology. A few months earlier, in late 2016, Lyft President John Zimmer predicted that a majority of Lyft rides would be handled by self-driving vehicles by 2021.
Obviously, that isn’t going to happen. Today, Alphabet’s Waymo is operating a small taxi service in the