Toyota's Woven Planet closes Lyft Level 5 buy - Just Auto
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Toyota’s Woven Planet closes Lyft Level 5 buy

By Graeme Roberts 20 Jul 2021 (Last Updated July 20th, 2021 09:57)

Woven Planet has closed on its first big M&A deal.

Toyota Motor subsidiary Woven Planet said it had closed acquisition of Level 5, the self-driving division of Lyft in a deal announced last April.

This is the first buy by Woven Planet which focuses on mobility innovation and investment in automated driving, robotics and smart cities.

Woven Planet will immediately take over Level 5 offices and operations in Silicon Valley and London, adding 300 engineers, research scientists, and mobility specialists to its payroll.

It it also gains sensing, computing, and software assets plus Level 5’s automated driving systems.

The deal was closed only after a Committee on Foreign Investment in the United States (CFIUS) review and decision there were no unresolved national security concerns.

James Kuffner, CEO, Woven Planet, said: “Skills and expertise from Level 5 will be combined with exceptional engineering know-how from Woven Planet and research insights from the team at Toyota Research Institute to form an industry brain trust.”