Lyft is preparing to introduce fully autonomous robotaxis in Dallas by 2026, powered by Mobileye's technology. The announcement from CEO David Risher on Monday saw Lyft's shares rise by 4.6%, while Mobileye's stock jumped 17%.

Companies across the automotive and tech industries continue to invest heavily in self-driving technology, viewing it as a key factor in shaping the future of mobility.

Japanese conglomerate Marubeni will own and finance the Mobileye-equipped vehicles, which will be available through the Lyft app. Mobileye had previously confirmed a partnership with Lyft in November to bring autonomous vehicles to the platform.

Lyft's move comes as competition in the self-driving space intensifies, with Uber's partner Waymo set to launch its own autonomous taxi service in Austin next month.

Waymo has already expanded its self-driving ride-hailing services to major US cities, including Miami, Phoenix, Los Angeles, San Francisco, and Austin.

More cities are expected to be added in 2025 as testing expands. Tesla has also announced plans to test driverless car technology in Austin from June but has yet to reveal details about a paid service.