Ford and Argo AI to Deploy 1,000 Self-Driving Cars on Lyft
Argo AI and Ford plan to put 1,000 autonomous vehicles on Lyft's ride-hailing network over the next five years. The multi-city rollout begins in Miami this year and includes a unique data-sharing agreement that values Argo at $12.4 billion.
Argo AI and Ford prepare to launch at least 1,000 self-driving vehicles on Lyft’s ride-hailing network over the next five years, starting with Miami later this year and Austin in 2023. The vehicles feature Ford cars equipped with Argo’s autonomous technology and include human safety drivers behind the wheel during the autonomous trips. Lyft executives describe this initiative as a major leap forward in scaled commercialization for the self-driving industry.
As part of the partnership, Lyft provides Argo AI with valuable driving data from its entire network in exchange for a 2.5% stake in the startup. This data-sharing agreement boosts Argo’s valuation to $12.4 billion. The ride-hailing company shares telemetry information and safety records that help Argo understand human driving patterns and overall citywide trip movements.
Argo CEO Bryan Salesky explains that this Lyft data helps the company identify exactly where passenger demand exists and where public transit lacks coverage. By analyzing these travel patterns, Argo makes smarter decisions about where to map roads and deploy test resources efficiently. Additional U.S. cities join the Lyft app in 2023 and beyond to complete this widespread commercial rollout.