Toyota snaps up Lyft's self-driving cars unit for $550 million

Toyota is buying Lyft's autonomous vehicle business for over half a billion dollars. The two players announced the $550 million acquisition on April 27.

Toyota is hitting the gas to achieve its self-driving goals by buying Lyft's autonomous vehicle business for over half a billion dollars.

The two players announced the $550 million acquisition on Tuesday, saying that it would allow them to create a "dream team" of about 1,200 researchers and engineers around the world.

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