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Toyota acquires Lyft’s self-driving unit for more than half a billion dollars

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Toyota Motor Corporation will acquire Lyft’s self-driving unit, an announcement confirmed yesterday. The cost of the deal is $550 million, and Toyota’s new Woven Planet division that will handle the Japanese company’s automation ambitions.

Lyft will receive $200 million in cash from Toyota upfront, and the remaining $350 million of the deal will be paid over the next five years. “The transaction is also expected to remove $100 million of annualized non-GAAP operating expenses on a net basis – primarily from reduced R&D spend – which will accelerate Lyft’s path to Adjusted EBITDA profitability,” Lyft said in a press release.

Toyota will not only acquire the self-driving unit, but the deal will also provide the automaker with Lyft’s 300 employees.

“Not only will this transaction allow Lyft to focus on advancing our leading Autonomous platform and transportation network, this partnership will help pull in our profitability timeline,” John Zimmer, Co-Founder and President of Lyft said. “Assuming the transaction closes within the expected timeframe and the COVID recovery continues, we are confident that we can achieve Adjusted EBITDA profitability in the third quarter of this year.”

Woven Planet Chief Executive James Kuffner told reporters on Tuesday, “This is the first step of establishing and bringing together the people. Obviously, building technology and product requires people, and that’s much what this acquisition is about.” Kuffner is likely referencing to the presence in Silicon Valley and London that Woven Planet will now have because of the acquisition. The partnership and could alleviate the issues that come with the acquisition of a new company.

Lyft’s advantages in the acquisition allow it to take a profit away from the development of self-driving technologies. Lyft hasn’t released its self-driving tech, which is aimed toward complete automation, known as Level 5 autonomy, but it can give the rest of the tasks to Toyota while walking away with a hefty profit.

Meanwhile, Toyota gains more experience and expertise in the self-driving sector through the acquisition. Toyota has Level 2 automation with advanced driver assistance tech. Level 2 describes “Partial Driving Automation” through Advanced Driver Assistance Systems. “The vehicle can perform steering and acceleration. The human still monitors all tasks and can take control at any time,” according to Synopsys‘ breakdown of automation levels.

Kuffner says that Woven Planet will continue investing and growing its team but did not give any further details about acquisition plans or a timeline that would describe possible moves in the future. According to Reuters‘ coverage of the acquisition, Toyota will “likely make more deals, even if they do not ultimately lead to self-driving vehicles to ‘actively gather software and people who have knowledge.’” This is according to Seiji Sugiura, a Senior Analyst at Tokai Tokyo Research Institute.

The transaction is expected to close in Q3 2021 and will be subjected to required regulatory approvals and other closing conditions.

Toyota acquires Lyft’s self-driving unit for more than half a billion dollars

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.teslarati.com/toyota-lyft-self-driving-acquisition/

Automotive

Multiple Tesla Superchargers blocked in one fell swoop by creative pickup truck

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Creativity and resourcefulness typically inspire admiration. It takes serious thought, after all, to come up with a solution when in a pinch. But creativity and resourcefulness can also go the opposite way, and when it does, facepalm-inducing incidents may happen. One such incident occurred at a PA Tesla Supercharger, which was visited by a rather resourceful pickup driver. 

YouTube host and Model 3 owner @JeffTutorials was visiting a PA Supercharger when he came across a rather unusual sight. The Supercharger wasn’t crowded, yet, it was quite tricky for an EV owner to plug in to one of the station’s rapid-charging stalls. This was because multiple Superchargers were blocked entirely by a large pickup truck pulling a trailer. 

(Credit: JeffTutorials/Twitter)

As could be seen in the YouTube host’s image, the pickup truck driver parked his vehicle and trailer across the Tesla Supercharger, resulting in numerous stalls being blocked off. The reasons behind such a unique parking style remain unknown, of course, but if the pickup driver was aiming to block some EV charging stations, he or she was certainly successful. 

It takes some creativity to block multiple Superchargers with a big truck, after all, but blocking off even more charging stations with a trailer? That’s straight up resourcefulness in action. 

Fortunately, the location did not seem very busy then, which meant that few if any EV owners were inconvenienced by the pickup truck driver’s creative ICE-ing. But if such a stunt were pulled during a busy day, with numerous Tesla drivers doing long trips, then things may not have ended with a simple joke on Twitter

What is rather amusing is that the pickup truck driver who ICE-ed several of the Tesla Superchargers was actually driving a company vehicle. And amusingly enough, a look at the logo on the pickup truck shows that the vehicle is from a company that offers “gas and oil services.” That’s downright symbolic and almost representative of the ongoing transition to sustainability in the transportation sector today, as well as the continued resistance from those that remain dedicated to the internal combustion engine and fossil fuels. 

Cars & Coffee group keeps Tesla Supercharger free after mass blocking incident

ICE-ing incidents would likely continue for some time, and they have practically become an expected part of the EV ownership experience. Fortunately, it appears that the vast majority of ICE-ing incidents involve drivers who inadvertently block off EV charging stations. One of these involved a Cars & Coffee group that ended up mass-ICE-ing a Supercharger. After apologizing for the inconvenience that its members caused, the group opted to welcome EV and Tesla owners, proving that camaraderie and possibly even friendships could result from incidents that typically cause tempers to flare. 

Don’t hesitate to contact us for news tips. Just send a message to [email protected] to give us a heads up.

Multiple Tesla Superchargers blocked in one fell swoop by creative pickup truck

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.teslarati.com/tesla-supercharger-solo-mass-iceing-photo/

Continue Reading

Automotive

Multiple Tesla Superchargers blocked in one fell swoop by creative pickup truck

Avatar

Published

on

Creativity and resourcefulness typically inspire admiration. It takes serious thought, after all, to come up with a solution when in a pinch. But creativity and resourcefulness can also go the opposite way, and when it does, facepalm-inducing incidents may happen. One such incident occurred at a PA Tesla Supercharger, which was visited by a rather resourceful pickup driver. 

YouTube host and Model 3 owner @JeffTutorials was visiting a PA Supercharger when he came across a rather unusual sight. The Supercharger wasn’t crowded, yet, it was quite tricky for an EV owner to plug in to one of the station’s rapid-charging stalls. This was because multiple Superchargers were blocked entirely by a large pickup truck pulling a trailer. 

(Credit: JeffTutorials/Twitter)

As could be seen in the YouTube host’s image, the pickup truck driver parked his vehicle and trailer across the Tesla Supercharger, resulting in numerous stalls being blocked off. The reasons behind such a unique parking style remain unknown, of course, but if the pickup driver was aiming to block some EV charging stations, he or she was certainly successful. 

It takes some creativity to block multiple Superchargers with a big truck, after all, but blocking off even more charging stations with a trailer? That’s straight up resourcefulness in action. 

Fortunately, the location did not seem very busy then, which meant that few if any EV owners were inconvenienced by the pickup truck driver’s creative ICE-ing. But if such a stunt were pulled during a busy day, with numerous Tesla drivers doing long trips, then things may not have ended with a simple joke on Twitter

What is rather amusing is that the pickup truck driver who ICE-ed several of the Tesla Superchargers was actually driving a company vehicle. And amusingly enough, a look at the logo on the pickup truck shows that the vehicle is from a company that offers “gas and oil services.” That’s downright symbolic and almost representative of the ongoing transition to sustainability in the transportation sector today, as well as the continued resistance from those that remain dedicated to the internal combustion engine and fossil fuels. 

Cars & Coffee group keeps Tesla Supercharger free after mass blocking incident

ICE-ing incidents would likely continue for some time, and they have practically become an expected part of the EV ownership experience. Fortunately, it appears that the vast majority of ICE-ing incidents involve drivers who inadvertently block off EV charging stations. One of these involved a Cars & Coffee group that ended up mass-ICE-ing a Supercharger. After apologizing for the inconvenience that its members caused, the group opted to welcome EV and Tesla owners, proving that camaraderie and possibly even friendships could result from incidents that typically cause tempers to flare. 

Don’t hesitate to contact us for news tips. Just send a message to [email protected] to give us a heads up.

Multiple Tesla Superchargers blocked in one fell swoop by creative pickup truck

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.teslarati.com/tesla-supercharger-solo-mass-iceing-photo/

Continue Reading

Automotive

Multiple Tesla Superchargers blocked in one fell swoop by creative pickup truck

Avatar

Published

on

Creativity and resourcefulness typically inspire admiration. It takes serious thought, after all, to come up with a solution when in a pinch. But creativity and resourcefulness can also go the opposite way, and when it does, facepalm-inducing incidents may happen. One such incident occurred at a PA Tesla Supercharger, which was visited by a rather resourceful pickup driver. 

YouTube host and Model 3 owner @JeffTutorials was visiting a PA Supercharger when he came across a rather unusual sight. The Supercharger wasn’t crowded, yet, it was quite tricky for an EV owner to plug in to one of the station’s rapid-charging stalls. This was because multiple Superchargers were blocked entirely by a large pickup truck pulling a trailer. 

(Credit: JeffTutorials/Twitter)

As could be seen in the YouTube host’s image, the pickup truck driver parked his vehicle and trailer across the Tesla Supercharger, resulting in numerous stalls being blocked off. The reasons behind such a unique parking style remain unknown, of course, but if the pickup driver was aiming to block some EV charging stations, he or she was certainly successful. 

It takes some creativity to block multiple Superchargers with a big truck, after all, but blocking off even more charging stations with a trailer? That’s straight up resourcefulness in action. 

Fortunately, the location did not seem very busy then, which meant that few if any EV owners were inconvenienced by the pickup truck driver’s creative ICE-ing. But if such a stunt were pulled during a busy day, with numerous Tesla drivers doing long trips, then things may not have ended with a simple joke on Twitter

What is rather amusing is that the pickup truck driver who ICE-ed several of the Tesla Superchargers was actually driving a company vehicle. And amusingly enough, a look at the logo on the pickup truck shows that the vehicle is from a company that offers “gas and oil services.” That’s downright symbolic and almost representative of the ongoing transition to sustainability in the transportation sector today, as well as the continued resistance from those that remain dedicated to the internal combustion engine and fossil fuels. 

Cars & Coffee group keeps Tesla Supercharger free after mass blocking incident

ICE-ing incidents would likely continue for some time, and they have practically become an expected part of the EV ownership experience. Fortunately, it appears that the vast majority of ICE-ing incidents involve drivers who inadvertently block off EV charging stations. One of these involved a Cars & Coffee group that ended up mass-ICE-ing a Supercharger. After apologizing for the inconvenience that its members caused, the group opted to welcome EV and Tesla owners, proving that camaraderie and possibly even friendships could result from incidents that typically cause tempers to flare. 

Don’t hesitate to contact us for news tips. Just send a message to [email protected] to give us a heads up.

Multiple Tesla Superchargers blocked in one fell swoop by creative pickup truck

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.teslarati.com/tesla-supercharger-solo-mass-iceing-photo/

Continue Reading

Automotive

Multiple Tesla Superchargers blocked in one fell swoop by creative pickup truck

Avatar

Published

on

Creativity and resourcefulness typically inspire admiration. It takes serious thought, after all, to come up with a solution when in a pinch. But creativity and resourcefulness can also go the opposite way, and when it does, facepalm-inducing incidents may happen. One such incident occurred at a PA Tesla Supercharger, which was visited by a rather resourceful pickup driver. 

YouTube host and Model 3 owner @JeffTutorials was visiting a PA Supercharger when he came across a rather unusual sight. The Supercharger wasn’t crowded, yet, it was quite tricky for an EV owner to plug in to one of the station’s rapid-charging stalls. This was because multiple Superchargers were blocked entirely by a large pickup truck pulling a trailer. 

(Credit: JeffTutorials/Twitter)

As could be seen in the YouTube host’s image, the pickup truck driver parked his vehicle and trailer across the Tesla Supercharger, resulting in numerous stalls being blocked off. The reasons behind such a unique parking style remain unknown, of course, but if the pickup driver was aiming to block some EV charging stations, he or she was certainly successful. 

It takes some creativity to block multiple Superchargers with a big truck, after all, but blocking off even more charging stations with a trailer? That’s straight up resourcefulness in action. 

Fortunately, the location did not seem very busy then, which meant that few if any EV owners were inconvenienced by the pickup truck driver’s creative ICE-ing. But if such a stunt were pulled during a busy day, with numerous Tesla drivers doing long trips, then things may not have ended with a simple joke on Twitter

What is rather amusing is that the pickup truck driver who ICE-ed several of the Tesla Superchargers was actually driving a company vehicle. And amusingly enough, a look at the logo on the pickup truck shows that the vehicle is from a company that offers “gas and oil services.” That’s downright symbolic and almost representative of the ongoing transition to sustainability in the transportation sector today, as well as the continued resistance from those that remain dedicated to the internal combustion engine and fossil fuels. 

Cars & Coffee group keeps Tesla Supercharger free after mass blocking incident

ICE-ing incidents would likely continue for some time, and they have practically become an expected part of the EV ownership experience. Fortunately, it appears that the vast majority of ICE-ing incidents involve drivers who inadvertently block off EV charging stations. One of these involved a Cars & Coffee group that ended up mass-ICE-ing a Supercharger. After apologizing for the inconvenience that its members caused, the group opted to welcome EV and Tesla owners, proving that camaraderie and possibly even friendships could result from incidents that typically cause tempers to flare. 

Don’t hesitate to contact us for news tips. Just send a message to [email protected] to give us a heads up.

Multiple Tesla Superchargers blocked in one fell swoop by creative pickup truck

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.teslarati.com/tesla-supercharger-solo-mass-iceing-photo/

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