Business Wire

Woven Planet Holdings, a Subsidiary of Toyota, Announces Acquisition of Lyft’s Level 5 Division to Accelerate Software Innovation for Automated Driving Mobility

Share

Woven Planet Holdings, Inc. (“Woven Planet”), a subsidiary of Toyota Motor Corporation, has agreed to acquire Level 5, the self-driving division of Lyft, Inc., one of the largest ride-hailing companies in the world. This marks the first major deal for the newly established Woven Planet.

The deal will bring together world-class scientists and software engineers from Level 5, Woven Planet, and researchers from Toyota Research Institute, Inc. (“TRI”) already working together with Woven Planet. The resulting combined “dream team” of approximately 1,200 will represent one of the most diverse, well-resourced and talented groups in this field.

Today’s announcement places Woven Planet at the center of the connected and automated driving movement by providing:

  • Talent: an international team of top-tier engineers, research scientists, and domain experts in mobility services.
  • Technology: a robust set of sensing, computing, and software assets, and strategic capabilities in automated driving systems
  • International Footprint: once the acquisition is complete, Woven Planet will have an expanded footprint beyond its Tokyo headquarters, with offices and engineering teams in Palo Alto, CA and London, UK.

In addition to the acquisition of Level 5, Woven Planet and Lyft have signed commercial agreements for utilization of the Lyft system and fleet data to accelerate the safety and commercialization of the automated-driving technology that Woven Planet will develop.

Lyft will receive approximately $550 million in cash, with $200 million paid upfront subject to certain closing adjustments and $350 million of payments over a five-year period.

As a result of this transaction, Woven Planet will accelerate revolutionizing the world of mobility and realize its mission of “Mobility to Love, Safety to Live,” fueling a broader vision of human happiness and well-being on the planet Earth.

Comment from James Kuffner, CEO, Woven Planet
“This acquisition advances our mission to develop the safest mobility in the world at scale.The Woven Planet team, alongside the team of researchers at TRI, have already established a center of excellence for software development and technology in the Toyota Group. Bringing Level 5’s world-class engineers and experts into the fold—as well as additional technology resources—will allow us to have even greater speed and impact. This deal will be key in weaving together the people, resources, and infrastructure that will help us to transform the world we live in through mobility technologies that can bring about a happier, safer future for us all.”

Comment from Logan Green, CEO, Lyft
“Today’s announcement launches Lyft into the next phase of an incredible journey to bring our mission to life. Lyft has spent nine years building a transportation network that is uniquely capable of scaling autonomous vehicles. This deal brings together the vision, talent, resources and commitment to advance clean, autonomous mobility on a global scale.”

Comment from George Kellerman, Head of Investments & Acquisitions, Woven Planet
“With the acquisition of Level 5, Woven Planet is driving towards its mission to combine the innovative culture of Silicon Valley with world-renowned Japanese craftsmanship to create the mobility solutions of the future. This acquisition significantly accelerates our ability to bring technology solutions forward with an influx of exceptional engineers and leading-edge technology. It also provides a solid foundation for international expansion and future hiring efforts in the world’s strongest talent markets. We aim to become the center of interconnected mobility systems, weaving together a variety of technologies and partnerships extending far beyond the automotive industry. This acquisition marks the first in a coordinated strategy to consolidate leading technologies and talent to help realize this vision.”

Comment from Luc Vincent, Executive Vice President, Autonomous Technology, Lyft
“Both Woven Planet and Level 5 are focused on improving mobility through technology, bringing about a future that benefits people around the world. With this deal in place, I am very excited that the Level 5 team will be better positioned than ever to deliver on its long term mission to bring autonomous vehicles to market. As part of Woven Planet, we will be able to leverage exceptional automotive engineering expertise as well as the considerable resources of an iconic business, while continuing to move with the energy and speed of a start-up. It is exhilarating to be part of this new venture, expanding our mission and building the foundational technology that will support mobility and the smart cities of tomorrow.”

About Woven Planet Group
At Woven Planet Group, we are on a mission to design a happier planet through secure, connected mobility solutions. Starting business in January 2021, Woven Planet Group is an expansion of the operations of Toyota Research Institute - Advanced Development, Inc. dedicated to bringing its vision, “Mobility to Love, Safety to Live” to life. Under this shared goal, our four companies, Woven Planet Holdings, Woven Core, Woven Alpha and Woven Capital are transforming how people live, work, and move through new innovations and investment in automated driving, robotics, smart cities, and more.
For more information, please visit: https://www.woven-planet.global/

About Lyft
Lyft was founded in 2012 and is one of the largest transportation networks in the United States and Canada. As the world shifts away from car ownership to transportation-as-a-service, Lyft is at the forefront of this massive societal change. Our transportation network brings together rideshare, bikes, scooters, car rentals and transit all in one app. We are singularly driven by our mission: to improve people’s lives with the world’s best transportation.

Contact information

Woven Planet Holdings, Inc.
Public Relations
pr@woven-planet.global
https://www.woven-planet.global/

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

The Metals Company Joins European Industry Alliances to Bolster Battery Supply Chain for the Clean Energy Transition7.5.2021 10:00:00 CEST | Press release

Today, The Metals Company (formerly DeepGreen), a developer of the world’s largest and highest-grade estimated source of battery metals, announced it has joined two of the European Union’s foremost industrial alliances—the European Raw Materials Alliance (ERMA) and the European Battery Alliance (EBA)—as the bloc advances its plans to become a global leader in the sustainable production of the batteries necessary to store clean energy and power electric vehicles (EVs). As a member of these industrial alliances, The Metals Company—which announced in March its plans to go public via a merger with the Sustainable Opportunities Acquisition Corporation (NYSE: SOAC)—brings a new, scalable source of battery metals to the table in the form of polymetallic nodules found unattached on the deep seafloor in the Pacific Ocean, which can help deliver upon their mandate for a diverse, reliable and responsible supply of critical minerals needed for low-carbon technologies. Under its Green Deal, the Eur

Morocco and UN Celebrate First-Ever International Argan Tree Day7.5.2021 08:30:00 CEST | Press release

Morocco and the United Nations will be marking the first-ever International Argan Tree Day on May 10th, 2021. The Argan tree, a tree specific to the Kingdom of Morocco, will thus be celebrated every year on May 10, as an intangible cultural heritage of humanity and ancestral source of sustainable development. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210506005652/en/ February 22, 2021: The United Nations’ General Assembly adopted by consensus a resolution proclaiming May 10 of each year as the “International Argan Tree Day” (Photo: AETOSWire) The proclamation of the International Argan Tree Day was announced on March 3, 2021, when the UN General Assembly adopted by consensus a draft resolution initiated by Morocco and hailed by all United Nations’ member states. This milestone is a culmination of Morocco’s quest to mobilize the international community to protect and further develop the country’s Argan industry. It is al

Tigo Energy Demonstrates Optimization to Installers in Brazil with Stark Renováveis Installation7.5.2021 02:14:00 CEST | Press release

Tigo Energy, Inc., the solar industry’s leading Flex MLPE (Module Level Power Electronics) supplier, announced today that Stark Renováveis has used the Tigo TS4-A-O to mitigate energy lost due to shade on their corporate headquarters in São José do Rio Preto, Brazil. Their confidence in Tigo’s solution drove the selection of the products for their own use. The Tigo solution gives installers and commercial system owners the freedom to choose their preferred inverters and panels along with the right features for optimized, monitored and PV safe systems. The Stark Renováveis team chose a rooftop PV system with 405 Wp modules organized in multiple strings and using GoodWeTM grid-tied inverters. The optimum placement of the modules was on a roof bordering a large construction wall which would ordinarily lead to shade and a degradation of the output. To mitigate the problem of energy lost due to shade, Tigo TS4-A-O optimizers were deployed to ensure the best possible system performance. "As

93 rd Vifor Pharma Group Annual General Meeting6.5.2021 18:00:00 CEST | Press release

Regulatory News: At today’s 93rd Annual General Meeting of Vifor Pharma Ltd., shareholders approved all proposed resolutions put forward by the Board of Directors. In view of the ongoing COVID-19 pandemic and in accordance with Ordinance 3 on measures to combat the coronavirus issued by the Swiss Federal Council, on the basis of Art. 8 of the new COVID-19 Act, shareholders were not permitted to attend the event in person. Shareholders exercised their rights exclusively through the independent proxy and 61.6% of the share capital was represented. Shareholder approvals Shareholders approved the Annual Report and the Annual Financial Statements of Vifor Pharma Ltd., as well as the consolidated Financial Statements of Vifor Pharma Group for 2020 by a large majority. The maximum possible 2022 remuneration for the Board of Directors and Executive Committee was also approved, as well as the 2020 Remuneration Report in a consultative vote. In addition, shareholders discharged the members of th

Aerobiotix Raises $25M Growth Equity Financing Led by Global Healthcare Investment Firm Vivo Capital6.5.2021 17:22:00 CEST | Press release

Founded in 2013, Aerobiotix, a rapidly growing global medical company has raised a $25 million of growth equity financing. The round was led by Vivo Capital with participation by Asahi Kasei Ventures. The new funding will be used to accelerate sales, marketing, and new product development. The Company’s infection control products have been used to support thousands of procedures across multiple surgical specialty disciplines and in over 175 hospitals and multiple long-term care facilities. Aerobiotix has developed a novel suite of FDA 510(k) cleared hospital-based air decontamination products and its devices are supported by multiple peer-reviewed research studies. Aerobiotix devices, such as the operating-room based ILLUVIA® system, are used by leading healthcare centers to reduce bacterial and viral contamination, including SARS-CoV-2 and other emerging pathogens. Aerobiotix products provide mechanical and ultraviolet filtration to remove airborne threats with high efficiency to prot

Elevēo Recognized in 2021 Gartner Magic Quadrant for Workforce Engagement Management Report6.5.2021 15:52:00 CEST | Press release

Elevēo announced today that global research and advisory firm, Gartner, has named Elevēo in its 2021 Magic Quadrant for Workforce Engagement Management.[1] “Eleveo has been recognized in this Gartner Magic Quadrant for Work Engagement Management for the 8th time*,” says Barry Williams, VP of Product and Marketing at Elevēo. He believes Elevēo is unique among the WEM solution providers included in this year’s magic quadrant. “We’re privately held and have grown our customer base and product suite organically - entirely without benefit of merger or acquisition. We believe that this recognition is a testament to the effort and dedication of our product and development teams, who’re continuously pushing us to be one of the top vendors in the WEM space.” Among key modules Elevēo added to its scalable WEM solution in 2020 are an Agent Desktop Toolbar, which automatically pauses and resumes recording to protect PCI or other sensitive data, and Multi-Skill/Multi-Channel forecasting and schedul

Vantage Data Centers Provides Renewable Energy Options to Customers at All Campuses Globally6.5.2021 14:30:00 CEST | Press release

Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced that it now provides access to renewable energy options at each of its North American and European campuses to enable customers to reduce their carbon emissions. Additionally, the company has hired two experts to lead its environmental sustainability commitments across the globe. Four of the company’s campuses are currently powered by more than 99% renewable energy (hydro, tidal and wind) for critical IT load through Vantage’s utility partners, while the other campuses provide access to green power purchases and renewable energy credits through local utility partners. Vantage actively works with energy providers, customers and industry groups to advocate and invest in additional renewable energy options globally. As part of an expanded focus on environmental goals, the company named Amanda Sutton as senior director of sustainability to lead Vantage’s global sustainability program to less