Smartphone-summoned ride service Lyft announced it is raising $600 million in a funding round that values the Uber competitor at $15.1 billion. The financing round is being led by Fidelity Management & Research Company, and has been joined by Senator Investment Group.
The Los Angeles Department of Transportation (LADOT) has unveiled its digital playbook aimed at addressing the urban mobility issues that have long plagued the sun-drenched city. The LADOT launched it Urban Mobility in a Digital Age Strategic Implementation Plan (SIP) after months of speculation regarding the program.
South African entrepreneur Elon Musk has confirmed that Chicago looks set to become the first city in the United States to adopt his futuristic concept for mass transit. Tesla CEO Musk is the head of the futuristic transportation company entitled The Boring Company
Google's self-driving firm Waymo has announced that it is expanding its operations by adding 62,000 Fiat Chrysler minivans to its autonomous fleet in a collaboration agreement jointly announced by the two companies.
A Japanese conglomerate has announced that it will make an investment of $2.25bn in US car manufacturing colossus General Motors. Telecommunications giant SoftBank will invest the capital in GM's autonomous car program in exchange for a stake in the ambitious mobility venture.
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