Ride-hailing firm Lyft sells self-driving tech unit to Toyota for $550m

Ride-hailing firm Lyft sells self-driving tech unit to Toyota for $550m

FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland, March 5, 2019. REUTERS/Denis Balibouse/File Photo

Lyft Inc will sell its selfdriving technology unit to Toyota Motor Corp in a $550 million deal, the companies said on Monday, allowing the ride-hail company to hit its profitability target one quarter earlier.

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