Lyft accelerates efforts to develop self-driving cars

Lyft Inc has formed a self-driving car division, company executives said, a bold investment for the second-largest U.S. ride-services firm as it jockeys for position in the highly competitive autonomous vehicle race. The executives said on Thursday the company would soon open a facility in Palo Alto, California known as'Level 5' that would eventually be staffed by'several hundred' engineers. Lyft engineers will collaborate there with autonomous vehicle experts from other companies to build self-driving systems. Lyft Inc has formed a self-driving car division, company executives said, a bold investment for the second-largest U.S. ride-services firm as it jockeys for position in the highly competitive autonomous vehicle race Waymo and Lyft are joining forces against ridesharing giant Uber, which is racing to develop its own self-driving vehicles. 'Waymo holds today's best self-driving technology, and collaborating with them will accelerate our shared vision of improving lives with the world s best transportation,' the Lyft statement read.