Rideshare network Lyft has enlisted the help of self-driving and ADAS technology provider Mobileye to establish widespread sales of autonomous vehicles to major fleet operators.
Lyft ($LYFT) remains a household name in rideshare services alongside any other company that begins with a “U.” Both competitors seem to be embracing electrification, but Lyft in particular has vowed to be 100% electric by 2030.
To do so, the company has established several partnerships to encourage and empower its network of drivers to use BEV for their work. Alternatively, Lyft has strengthened alliances with many other technology companies and OEMs to operate autonomous vehicles, including Hyundai.
Speaking of autonomous vehicles, Mobileye ($MBLY) is an Israel-based ADAS specialist with 25 years of experience in the segment. The company was fully acquired by Intel in 2017 before starting to develop autonomous robotaxis with the Volkswagen Group.
Since then, automakers like Porsche have turned to Mobileye for its advanced self-driving technology. Recently, Polestar partnered with a technology company to help enable hands-free, blindfolded (Level 3 autonomous driving) in its upcoming 4 SUV.
Today, Mobileye announced a new partnership with Lyft to combine its autonomous driving technology with the latest fleet operators that contribute to its network of 40 million annual passengers.
Lyft and Mobileye will use autonomous rideshare vehicles
Mobileye shared details of its partnership with Lyft today. Through this partnership, Mobileye aims to provide its autonomous car (AV) technology to an ecosystem of purpose-built vehicle manufacturers, which will then be available for purchase by vehicle operators and transportation service providers.
These “Mobileye Drive-based” autonomous flights will help Lyft achieve its goal of bringing more robotic rides to North American cities. They will also support operators who want to plant and manage large fleets in those metropolitan areas. As a result, those fleet operators will have the opportunity to purchase Mobileye Drive, “Lyft-ready” vehicles from various OEMs that build AV-ready EVs, such as the Hyundai IONIQ 5. Per Lyft CEO David Risher:
Mobileye's full-stack technology is an important part of making autonomous vehicles Lyft-ready. As we make more AVs available to our 40 million annual passengers, we are focused on building a platform where fleet owners will be proud to put their products to work. We welcome Mobileye as a key strategic partner on the path to an autonomous future.
In addition to the Mobileye Drive-equipped vehicles, Lyft intends to use new AV demand technology for cloud-based ADAS experts, connecting those vehicles with AV fleet operators.
With Mobileye's turnkey autonomous car ecosystem and Lyft's current program of AV Partner APIs, participating airlines are expected to generate revenue while providing passengers using the app with faster and wider access to transportation options. Mobileye President and CEO Prof. Amnon Shashua also spoke:
Partnering with leading providers and operators are key steps in bringing autonomous travel services to reality. Enabling Mobileye Drive with Lyft's network of 40 million annual passengers in North America will allow our AV customers to reach new markets and locations with independent services and provide technology benefits for sustainable business.
It's still a matter of time before when or where we'll see these Mobileye-equipped autonomous vehicles installed by Lyft and its fleet operators, and we don't know what makes or models will see the technology first. This will be a story we will keep an eye on (mobile) and report as we learn more,
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