Lyft claims to have Self-Driving Vehicles within Five Years


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Claire Heffron | FlashRatings | Sunday, September 18, 2016 10:30 PM EDT
Lyft expects self-driving cars to handle most rides in 5 years. Lyft Inc. provides a platform for on demand ridesharing. The company connects drivers to ride-seekers via smartphone software. The company's CEO John Zimmer made the forecast Sunday in a Medium blog post titled, “The Third Transportation Revolution: Lyft’s Vision for the Next Ten Years and Beyond.” 
 
Zimmer doesn't say exactly how his company will reach that milestone so quickly, but he sees a transition where driverless tech gradually increases in capability. The blog focused on Ford’s  (F) commitment to building a self-driving car by 2021. It also features numerous other start-ups such as Comma.ai and Drive.ai. "The good news is we don’t have to keep building our country around car ownership," Zimmer said, "Technology has redefined entire industries around a simple reality: you no longer need to own a product to enjoy its benefits."
 
Uber, Lyft’s rival that dominates the ridesharing market has already made a huge step towards innovating the self-driving car market. Uber is starting to carry passengers around Pittsburgh in autonomous cars with a human backup driver.

Uber also announced the acquisition of Otto, a self-driving truck startup, and a partnership with Volvo on self-driving cars.
 
Despite unanswered questions regarding Uber’s profitability, Uber has earned $12 million to date. The company is worth a total of $66 billion.