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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.