Waymo and Lyft to launch autonomous ride-hailing in Nashville
Lyft is joining forces with Waymo to roll out fully autonomous ride-hailing in Nashville by 2026.
The announcement gave Lyft's stock a healthy boost—up over 12%—and the service will start on the Waymo app before making its way to Lyft's own platform.
Lyft's Flexdrive team will manage Waymo's self-driving fleet
Lyft's Flexdrive team will handle all the charging and upkeep for Waymo's self-driving fleet, as Waymo aims for up to 800,000 rides a week.
Waymo could generate $749 million in yearly revenue if things go as planned, with Lyft earning a portion from fleet management services.
Even with this big move, most analysts are staying cautious about Lyft's future, while Uber shares dipped 3.8% after the news.
For Lyft, it's a fresh revenue stream and their first real step into managing autonomous vehicles, as Waymo expands its reach.