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Business deals

Lyft sells self-driving tech unit to Toyota for $550m

US ride-hailing giant moves up profit timeline

Lyft, the San Francisco-based ride-hailing service, will sell its self-driving technology unit to Toyota.   © Reuters

Lyft Inc will sell its self-driving technology unit to Toyota Motor Corp in a $550 million deal, the companies said on Monday, allowing the ride-hail company to hit its profitability target one quarter earlier.

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