Uber Technologies, Inc. UBER shares traded lower on Wednesday after Waymo and Lyft, Inc. LYFT announced a planned expansion for 2026.
What To Know: Lyft and Waymo said they will launch Waymo’s fully autonomous ride-hailing service in Nashville in 2026. The rollout will be supported by Lyft’s Flexdrive subsidiary, which will provide fleet management, maintenance, charging and depot operations for Waymo’s vehicles. Riders will initially book rides through the Waymo app, with integration into Lyft’s network planned for later in 2026.
Uber and Lyft are direct competitors in the mobility space. Uber stock has benefitted this year as the company has leaned into the autonomous vehicle market. Lyft’s deal with Waymo is being viewed as a competitive threat to Uber’s future market share of the autonomous ride-hailing market.
Lyft and Waymo said the collaboration will combine Waymo’s autonomous driving technology with Lyft’s customer service and fleet capabilities. As part of the expansion, Lyft will construct a new facility in Nashville designed for AV fleet management.
Waymo co-CEO Tekedra Mawakana said the launch will give Nashville residents and visitors access to “the convenient, consistent, safe, and magical Waymo experience.”
Lyft CEO David Risher added that the partnership joins “best-in-class autonomous vehicles with best-in-class customer experience.”
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UBER Price Action: Uber shares closed Wednesday down 4.96% at $92.98, according to data from Benzinga Pro.
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