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00:00:01
>> Lyft making a bold investment in self driving technology as it heads down the road to vault in an initial public offering. The announcement showcasing a shift in strategy for America's second biggest ride hailing service, which previously said, it would lead the building of autonomous driving systems to others reuters correspondent, Heather Somerville.
00:00:21
>> Lyft is really emphasizing this as a collaborative project with other companies in the industry. They say, the best way to advance self-driving cars and to change regulation is to work with automakers and other tech partners. They're calling this an open self-driving system. So, they'll be sharing data with other companies and in theory building some of this technology alongside partners like General Motors.
00:00:46
>> Not just GM, but Alphabet's Waymo, tech company nuTonomy, and Jaguar and Land Rover are also part of the collaboration. But Lyft's new plan brings the frenemy question to mind. How can these companies work together, while at the same time compete to become the dominate player in self driving cars.
00:01:05
>> The other question is really, what can Lyft bring to a space that is so highly competitive, and which already has so many players, especially when Lyft. Is so far behind everyone else. Lyft is saying it can move quickly, cuz it can use tech off the shelf. But the fact of the matter is, the important thing to developing self-driving systems is logging miles.
00:01:24
Google, for instance, has millions of miles completed on autonomous systems. Lyft has zero.>> But that's not stopping Lyft from pursuing the group approach that's much different from larger rival Uber, which prefers to go it alone in the industry's race to the future.