FILE PHOTO: A car with a Lyft logo in its window drives down a street as the company prepares for its upcoming IPO in New York, U.S., March 19, 2019. REUTERS/Lucas Jackson/File Photo
BOSTON (Reuters) – Lyft Inc executives are focused on cutting insurance costs 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.
Reducing insurance costs is “the number one initiative,” said Chief Financial Officer Brian Roberts at a luncheon at a Boston hotel on Wednesday for investors considering whether to buy into the closely watched IPO.
Reporting by Ross Kerber; Editing by Dan Grebler