According to sources the potential investment could come from either Google or from CapitalG, Alphabet’s investment division.
Due to some circumstances representatives of both Alphabet and Lyft representative declined to comment on the potential investment.
As we all are aware of the fact that the two companies have already forged strong ties.
In May, Waymo, Alphabet’s self-driving car unit, Alphabet describes Waymo as “a self-driving tech company with a mission to make it safe and easy for people and things to move around”. The new company, which will be headed by long-time automotive executive John Krafcik, is working towards making self-driving cars available to the public soon signed to collaborate on autonomous vehicle technology.
Lyft announced it was forming an autonomous car division that would be based at a new center in Palo Alto. The app-based taxi company said Waymo would be among its partners that would representatives working in the space.
Lyft announced last year it would be expanding its work in self-driving cars and was aiming to have autonomous vehicles account for the majority of Lyft rides within five years. An investment from Google could help the company achieve that goal and give it a leg up on arch-rival Uber.
Last night, Waymo, the self-driving car division of Alphabet — parent company to Google — filed a blockbuster lawsuit against Uber. The suit alleges that a former Google engineer stole trade secrets and proprietary designs of Waymo’s self-driving car system, which he subsequently used when starting his own company that was later acquired by Uber in 2016.
Google was an early investor in Uber, but the companies are now engaged in a hard-fought lawsuit over .
The lawsuit alleges that Anthony Levandowski, a former employee in Google’s self-driving car division, downloaded nearly 14,000 documents, including the design for the circuit board used Waymo’s self-driving car system. All the while, the lawsuit claims, he was surreptitiously planning to leave the company to start his own self-driving car startup.
Image Source: REUTERS/Chip East