By Natalie Lung, Bloomberg

Lyft Inc. is partnering with autonomous vehicle developer Tensor Auto Inc. to deploy a fleet of hundreds of robotaxis in Europe and North America starting in 2027.

The ride-hailing company will additionally make its platform available on all Tensor vehicles, called Robocars, according to a joint statement by the companies on Thursday. Lyft shares jumped during early trading but turned negative to trade as much as 2.5% lower after markets opened in New York.

Lyft is racing to catch up with its larger rival Uber Technologies Inc., which has more than a dozen partner agreements globally with autonomous car developers, in the next frontier for ride-hailing services. Last month, Lyft and May Mobility Inc. began offering autonomous rides assisted by safety drivers i

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