US Stock Market Move | Lyft Inc (LYFT.US) announced the launch of a pilot program for self-driving cars, causing its stock to rise over 3%.

On Wednesday, the stock price of American ride-hailing platform Lyft Inc (LYFT.US) rose, with the stock up more than 3% to $18.96 as of press time. The company announced that it has officially launched a self-driving pilot program in Atlanta, United States, with the first batch of vehicles operating on the road with safety personnel onboard. This pilot program is an important step for Lyft to advance its self-driving strategy, aiming to enhance its competitiveness in the self-driving field against Waymo and Uber Technologies, Inc. (UBER.US). According to a statement released by Lyft, starting from this Wednesday, the company will introduce Toyota Sienna minivans equipped with May Mobility's self-driving technology in a 7 square mile area in downtown Atlanta, available for users to hail as ride services. Lyft stated that pricing for these self-driving trips will be the same as regular Lyft orders. Jeremy Bird, Lyft's Executive Vice President responsible for driver experience, stated that the company started later than others but is gradually catching up with Uber Technologies, Inc.'s global expansion. In comparison, Uber Technologies, Inc. is currently collaborating with Waymo in cities like Atlanta, Austin, and Phoenix to provide autonomous driving services, as well as partnering with WeRide in Abu Dhabi. The partnership with May Mobility is the first project to come out of a series of self-driving partnerships announced by Lyft last November. Lyft expects to further expand its self-driving service coverage in the US market by 2026, and collaborate with more technology partners, including Mobileye Global Inc. supported by Intel Corporation (INTC.US) and the Austrian company Benteler Group. Additionally, Lyft also plans to launch self-driving transportation services in the European market through a collaboration with Baidu Inc Sponsored ADR Class A (BIDU.US).