1818 ET - Lyft's CEO David Risher plans to take part in the robotaxi race by launching around 1,000 Mobileye powered-robotaxis in Dallas as early as 2026, the executive says on a call with analysts. The company is getting financing from Japanese trading and investment firm Marubeni. "They're expensive assets," Risher says, adding that since, most cars get less valuable over time, the company needed an expert in financing its robotaxis. Last week, rival Uber Technologies' shares declined after the company reported lower-than-expected income for the fourth quarter and the market questioned the company's plans to compete in the robotaxi race. Lyft shares drop 10% to $12.85. Uber shares fall 2.5% to $75. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
February 11, 2025 18:18 ET (23:18 GMT)
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