The consolidation of the capital-intensive autonomous vehicle industry continued today. While Lyft is the latest company to abandon the development of autonomous vehicles, it won’t be the last. Lyft sold its self-driving unit, Level 5, to Toyota subsidiary Woven Planet Holdings for $550 million in cash. Lyft will receive $200 million upfront and $350 million…
Autonomous vehicle startup Drive.ai secured $15 million in funding to help the company expand its leadership team, develop its technology, grow business partnerships and open its first international office in Singapore. The financing was led by Southeast Asia transportation and mobile payments platform Grab, though others participated as well. The funds build on Drive.ai’s June…
