Ford, Argo AI To Launch Self-Driving Vehicles On Lyft Network By 2021-End

Ford Motor Company F, Lyft Inc LYFT, and Argo AI have entered into a partnership to commercialize autonomous ride-hailing at scale.
Lyft will receive 2.5% of the common equity of Argo AI as part of the licensing and data access agreements.
The collaboration brings together the self-driving technology, vehicle fleet, and transportation network needed to support a scalable business.
Argo AI and Ford will deploy Ford self-driving cars, with safety drivers, on the Lyft network. Passenger rides are expected to begin in Miami later in 2021 and Austin starting in 2022.
The parties aim to deploy at least 1,000 autonomous vehicles on the Lyft network across multiple markets over the next five years.
As part of the agreement, Argo will use anonymized service and fleet data from Lyft to overcome the challenges faced by other autonomous vehicle companies.
"Argo and Ford are currently piloting, mapping and preparing for commercial operations of autonomous vehicles in more cities than any other AV collaboration, and this new agreement is a crucial step toward full commercial operations – the addition of Lyft's world-class transportation network," said Scott Griffith, CEO, Ford Autonomous Vehicles & Mobility Businesses.
Price action: F shares are trading higher by 2.45% at $14.26, while LYFT is trading up 4.12% at $55.19 on the last check Wednesday.