Lyft takes $135.7 million hit on Argo AI shutdown

Ride-hailing company Lyft lost $135.7 million in the third quarter due to the shutdown of autonomous vehicle company Argo AI, in which Lyft had a small stake.
Late last month, Argo AI closed its doors as its main backers, Ford and Volkswagen, pulled their investments in order to focus on more near-term goals like advanced driver assistance systems in passenger vehicles.
Lyft and Argo were working together to test autonomous ride-hailing using Argo’s tech on the Lyft platform. The two companies had launched public robotaxi services in Austin, Texas in September and Miami, Florida in Decem

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