Lyft had visions of building an autonomous car. What happened?

Lyft explains decision to sell self-driving car business

When Lyft (NASDAQ: LYFT) launched Level 5 in 2017, it had grand plans for the autonomous vehicle (AV) division.

“This is too strategic an area for us not to be a player,” Luc Vincent, the Google executive tapped to lead Lyft’s efforts, said at the time. “We want to take an active role.”

Lyft’s decision to start Level 5 came shortly after competitor Uber (NYSE: UBER) launched its own autonomous driving project. In December 2020, Uber sold that money-losing division to Amazon-backed Aurora. As part...

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