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Lyft Inc. (NASDAQ:LYFT) announced it will partner with Waymo to roll out autonomous ride-hailing services in Nashville in 2026, sending the stock soaring after the announcement.
The company, best known for reshaping urban mobility with ridesharing, bikes, and scooters, is pitching the deal as a step toward a new era of driverless transportation.
Lyft’s Flexdrive unit will manage fleet operations, including maintenance, charging, and depot logistics, while Waymo provides its self-driving vehicles.
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Waymo’s cars will first be available through its own app, with plans to integrate them into Lyft’s network later in the year. The deal comes as Lyft works to expand its business while reinforcing its financial position.
Lyft CEO David Risher said the agreement combines “best-in-class autonomous vehicles with best-in-class customer experience.” Waymo co-CEO Tekedra Mawakana said the company is eager to introduce its service to Nashville residents and visitors, calling the experience “convenient, consistent, safe, and magical.”
The partnership includes a marketplace integration that will match Waymo’s autonomous vehicles with ride requests on both networks, a move designed to improve fleet efficiency. Waymo’s AVs will operate alongside Lyft drivers as part of a hybrid service model.
Lyft will also build a Nashville facility to support the rollout, handling charging and service needs. Flexdrive’s platform will manage vehicle performance and uptime, aiming to reduce costs and keep cars available for riders.
Recently, Waymo kicked off airport testing at San Jose’s Mineta International, aiming for a public launch later this year with safety drivers in place.
At the same time, Tesla (NASDAQ:TSLA) introduced its Robotaxi app, opening a waitlist for fully autonomous rides. One San Jose rider even compared fares, noting Tesla’s Robotaxi was priced well below a similar Uber trip.
Investors watching the sector often track the Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) and ARK Innovation ETF (NYSE:ARKK), both of which hold stakes in self-driving technology companies.
Price Action: LYFT shares were trading higher by 14.83% to $23.19 at last check Wednesday.
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Photo by Koshiro K via Shutterstock
