Lyft and Mobileye Team Up to Enable Autonomous Mobility at Scale
Lyft, Inc. (NASDAQ:LYFT), one of the largest transportation networks in North America, and Mobileye (NASDAQ:MBLY), a leading provider of self-driving technology and advanced driver assistance systems (ADAS), announced today plans for an alliance that aims to facilitate the widespread commercialization of autonomous vehicles' services by industry-leading fleet operators.
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Lyft and Mobileye logos. (Graphic: Business Wire)
Using the latest advancements in AI for autonomy, Mobileye provides AV technology to an ecosystem of purpose-built vehicle manufacturers, who integrate Mobileye's AV technology in AV-ready vehicles for purchase by vehicle fleet operators and transportation service providers. The alliance of Lyft and Mobileye intends to leverage Lyft's network of 40 million annual riders and exceptional reputation as a leading transportation network in North America to provide a seamless demand platform for Mobileye Drive™-based AV fleets.
The objective is for future AV operators who want to deploy and manage large-scale fleets in various metropolitan areas in North America to purchase Mobileye Drive-equipped, "Lyft-ready" vehicles from vehicle builders, access Lyft's rider demand and optimize utilization and profitability of their fleets.
The companies also plan to utilize Mobileye's new cloud-based AV demand technology, which connects Mobileye Drive-equipped vehicles with AV fleet operators. Through Mobileye's turnkey AV ecosystem and Lyft's suite of AV Partner APIs, fleets of AVs are expected to be monetized, giving Lyft users faster and broader availability of AVs.
"Mobileye's full-stack technology is an important part of getting autonomous fleets Lyft-ready," said David Risher, CEO at Lyft. "As we make more AVs available to our 40 million annual riders, we're laser-focused on building a platform where fleet owners will be proud to put their assets to work. We welcome Mobileye as an important strategic partner on the road to an autonomous future."
"Cooperating with leading mobility providers and operators are essential steps to bring autonomous mobility services to reality," said Prof. Amnon Shashua, President and CEO of Mobileye. "Enabling Mobileye Drive with Lyft's network of 40 million annual riders in North America would allow our AV customers to reach new markets and geographies with autonomous services and provide the benefits of the technology through a sustainable business."
The planned joint effort marks another milestone in Mobileye's ambition to bring autonomous mobility to passengers across the globe. Working together with transportation network providers, vehicle operators and vehicle manufacturers, Mobileye has provided its AV technology to various mobility-as-a-service projects in Europe and North America. Mobileye Drive-equipped vehicles are currently piloted with several mobility operators in Germany, Norway, Croatia and the United States.
Mobileye (NASDAQ:MBLY) leads the evolution of mobility with our autonomous driving and driver-assistance technologies, based on world-renowned expertise in artificial intelligence, computer vision, mapping, and integrated hardware and software. Since our founding in 1999, Mobileye has enabled the wide adoption of advanced driver-assistance systems while pioneering groundbreaking technologies such as REM™ crowdsourced mapping, True Redundancy™ sensing, Responsibility-Sensitive Safety™ (RSS™) driving policy and Driving Experience Platform (DXP). These technologies support a product portfolio structured for scale and designed to unlock the full potential of mobility, offering a range of solutions from premium ADAS to autonomous vehicles. By the end of 2023, about 180 million vehicles worldwide have been equipped with Mobileye technology. In 2022, Mobileye listed as an independent company separate from Intel (NASDAQ:INTC), which retains majority ownership. For more information, visit https://www.mobileye.com.
"Mobileye," the Mobileye logo and Mobileye product names are registered trademarks of Mobileye Global. All other marks are the property of their respective owners.
Lyft Forward-Looking Statements
Certain statements contained in this press release are "forward-looking statements" about Lyft within the meaning of the securities laws, including statements about Lyft's autonomous vehicle strategy and partnership with Mobileye and related plans, expectations, technologies and benefits. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Lyft's filings with the Securities and Exchange Commission. Lyft does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.
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