This service will be the first time Lyft passengers in Los Angeles will be able to request a self-driving vehicle.
Los Angeles is the second city in the multimarket retail partnership planned by Motional and Lyft.
Los Angeles, California: November 17, 2022 – Lyft, Inc. (Nasdaq: LYFT) and emotional, a global leader in driverless technology, today announced the planned launch of a fully driverless ride-hailing service in Los Angeles. The service will use The fully electric axis robot based on Motional’s IONIQ 5 and it will be the first time that Los Angeles residents will be able to request an autonomous vehicle (AV) in the Lyft app.
Los Angeles is the second city in Lyft and Motional’s multi-city partnership, following Las Vegas, where the two companies run public rides in Motional’s IONIQ 5 AVs. By integrating Motional’s Level 4 AVs on the Lyft platform, passengers in Los Angeles will have access to a ridesharing network with multiple modes of transportation, which will include autonomous vehicles and traditional carpooling, to get passengers where they need to be. go.
“Los Angeles was the second city Lyft launched in 2013 and it’s only fitting that this is the second AV market we’re launching with our partner Motional,” said Logan Green, CEO and co-founder of Lyft. “Scaling AVs only works if passengers can get a reliable ride, whether self-driving or not, and with Motional, Lyft will transform AV technology into transportation for Angelenos everywhere.”
“This is an exciting next step for Motional and Lyft as we bring robotaxis to Lyft users in Los Angeles for the first time,” said Karl Iagnemma, President and CEO of Motional. “Los Angeles is the second most populous city in the United States and represents a huge market opportunity for AV adoption. This service will build on the five years of business experience we already have with Lyft and will provide Los Angeles passengers with a driverless experience that prioritizes safety, is affordable, and supports the city’s commitment to improved mobility.”
Autonomous vehicles to support safer mobility in Los Angeles
Motional and Lyft see AVs contributing to an improved and friendlier mobility ecosystem in Los Angeles. Motional’s AV vehicles have traveled millions of miles in diverse environments without any at-fault incidents, and are developed to recognize and react safely to vulnerable road users, helping to create a safe shared road experience.
Safer mobility is especially critical in Los Angeles, where traffic fatalities increased 21% in 2021 and pedestrian injuries also increased 35%, which is why Motional and Lyft are working closely with local authorities and organizations to realize the potential benefits of autonomous technology. According to research from Lyft, Californians are more interested in AVs than the rest of the country, making Los Angeles an attractive market to launch and eventually scale AVs.
“If we are to deliver on our commitment to reduce traffic congestion while reducing emissions, we must provide Angelenos with real alternatives to owning their own vehicles,” said Los Angeles Mayor Eric Garcetti. “Motional and Lyft have been true leaders in shaping the future of mobility in our city – and we look forward to working closely with them to safely introduce autonomous vehicles to our growing list of transportation options. ”
“Over the past few years, Lyft has introduced new transportation options to its platform — from carpooling to bike sharing to mass transit — with the goal of providing new opportunities to get around, opening up the door to more advocates who will fight for safer streets in LA County. With the introduction of Motional’s self-driving vehicles to the Lyft network, we’re excited about the potential for this technology to play a role in the landscape of transportation to help make the entire Los Angeles area a healthier, safer, and more fun place to walk and ride bikes.” – Kevin Shin, Deputy Director of BikeLA (formerly LA County Bicycle Coalition)
Motional and Lyft will share more information about their Los Angeles service ahead of launch.
Motional will exhibit its IONIQ 5 robotaxi at The LA Auto Show today through November 27, marking the first time a robotaxi has been shown at the show.
Lyft (NASDAQ: LYFT) was founded in 2012 and is one of the largest transportation networks in the United States and Canada. As the world shifts to transportation as a service, Lyft is at the forefront of this massive societal change. Its transportation network includes the largest shared mobility network in the United States and combines carpooling, bikes, scooters, car rentals and public transit in a single app. Lyft is uniquely driven by its mission: to improve people’s lives with the best transportation in the world.
Motional is a driverless technology company making autonomous vehicles (AV) a safe, reliable and accessible reality. The company formed in 2020 as a joint venture between Hyundai Motor Group, one of the world’s largest automakers providing smart mobility solutions, and Aptiv, a global technology company developing safer, greener solutions. and more connected enabling a more sustainable future of mobility.
Motional develops and markets SAE Level 4 autonomous vehicles for transportation and delivery applications. The company has unrivaled experience in commercial robotaxi operations, having completed more than 100,000 self-driving rides through its public service in Las Vegas.
Certain statements in this announcement are “forward-looking statements” within the meaning of securities laws, including statements about Motional’s business partnership with Lyft and their self-driving vehicle services, Lyft’s ridesharing network, prevalence, accessibility and consumer adoption of self-driving vehicles self-driving vehicle technology on Lyft’s platform, plans to open new facilities and/or hire additional employees to support vehicle service autonomous described here. Such statements, which are not based on historical facts, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results to differ materially from those discussed in the forward-looking statements. These factors are detailed in Lyft’s filings with the Securities and Exchange Commission. Lyft does not undertake to update its forward-looking statements to reflect future events, except as required by applicable law.
Lyft Inc. published this content on November 17, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on November 17, 2022 1:08:02 PM UTC.
Public now 2022
Trends Technical Analysis LYFT, INC.
|Short term||Middle term||Long term|
Evolution of the income statement
|Number of analysts||42|
|Last closing price||$11.97|
|Average target price||$24.21|
|Average Spread / Target||102%|