May 15, 2017

Lyft and Waymo Team Up

Lyft and Waymo — two of Uber's biggest rivals — have decided to work together.


Waymo, the self-driving car unit that operates under Google's parent company, and the ride-hailing service Lyft have signed a deal to work on autonomous vehicle technology through pilot projects and product development efforts, according to two people familiar with the agreement.

The companies began talking about a partnership last summer, the two people said. The talks involved Logan Green and John Zimmer, the founders and leaders of Lyft, and John Krafcik, the chief executive of Waymo.

Waymo and Lyft confirmed the deal but didn't say what types of products they were aiming to bring to market or when the public would see what they were working on.

The partnership indicates that Waymo believes its self-driving car technology is ready to be applied commercially. For Lyft, the deal is a way to enter the autonomous driving industry.

The agreement has competitive implications for Uber, especially as the ride-hailing firm is mired in a lawsuit about accusations of intellectual property theft from Waymo.

U.S. Companies Court Chinese Infrastructure Spending

China plans a $1 trillion spending spree to invest in infrastructure all over the world in an initiative called "One Belt, One Road." The money has not yet been earmarked, but American companies are already looking at ways to get a piece of the action.

For example, Citibank won a contract last month to handle a $3 billion bond offering from Bank of China, which aims to use the money to open branches across Asia, Eastern Europe and East Africa.

A big hurdle to winning bids though, is China's preference for its own companies.

One way for American companies to increase their chances would be to increase manufacturing in China, not in the United States, to satisfy Beijing's requirements that some of the work be done locally.

The New York Times