FILE PHOTO: A car with a Lyft logo in the screen stations in a street as the company prepares for its upcoming IPO in New York, USA, March 19, 2019. REUTERS/Lucas Jackson/File Photo
BOSTON (Reuters) – Lyft Inc. executives are focused on reducing costs of the insurance and will phase in self-driving vehicles on simple routes first, they said at a road show for investors ahead of the ride-hailing company’s initial public offering set for next week.
Reduce the cost of the insurance is “the number one initiative,” said Chief Financial Officer Brian Roberts to a meal in a hotel in Boston on Wednesday for investors who are considering buying in the closely watched IPO.
Reporting by Ross Kerber; Editing by Dan Grebler