According to Reuters and Bloomberg, Alphabet (Googl.o) is in talks with Lyft about a possible $1B investment, further deepening the relationship between the two firms. Axiosreported that “top-level company executive like Alphabet CEO Larry Page” are driving the negotiation. This influx of cash may be used to fuel their international expansion plans or to further develop their self-driving technology.
As a reminder, Alphabet’s Waymo signed a partnership with Lyft in May 2017 to collaborate on self-driving technology. when Lyft announced in July that it would form its own self-driving car division and develop its own self-driving system at a facility in Palo Alto, it said Waymo would be one of its partners.
Boston-based self-driving vehicle technology firm NuTonomy has announced their plans to launch a completely autonomous taxi service in Singapore as soon as Q2, 2018. An MIT spinout, 4-year-old NuTonomy made headlines last year when it beat Uber in the race to launch the first autonomous taxis – theirs hitting the roads in Singapore in August 2016.
The Singapore Economic Development Board was one of a number of high-profile backers to take part in NuTonomy’s $16 million Series A financing round in May 2016, along with Ford chairman Bill Ford’s Fontinalis Partners fund. Earlier this year, NuTonomy and Lyft partnered to bring the first self-driving Lyft service to Boston.
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