Lyft Resumes Self-Driving Test Rides

Lyft Inc. (NYSE: LYFT) has resumed testing of its self-driving technology on public roads in California, TechCrunch reported Tuesday.

What Happened

An employee-exclusive pilot program in Palo Alto remains paused, according to TechCrunch.

The test rides conducted by its self-driving subsidiary Level 5 were temporarily halted in March due to the shelter-in-place orders enacted to curb the spread of the COVID-19 pandemic.

The company was relying on simulation during the lockdown period as it faces intense competition in the area with Uber Technologies Ltd. (NYSE: UBER), Tesla Inc. (NASDAQ: TSLA), and Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG) subsidiary Waymo, among others.

Lyft Level 5 said it would adhere to the United States Center for Disease Control and Prevention guidelines during the test rides as a precaution against COVID-19.

The company in June announced it was also aiming to completely switch to all-electric vehicles for its ride-hailing business by 2030.

Price Action

Lyft shares closed 0.15% lower at $33.01 on Tuesday and were unchanged in the after-hours session.

Image: Lyft

See more from Benzinga

© 2020 Benzinga does not provide investment advice. All rights reserved.