Within five years, a majority of ride-hailing company Lyft’s rides will be in self-driving cars, the company’s co-founder and president predicted on Sunday. John Zimmer also said that personal car ownership will come to an end because autonomous rides will become a cheaper way to travel than owning an automobile. He made the predictions in an essay on the future of transportation in urban areas.

Technology, auto and ride-hailing companies are moving quickly toward self-driving vehicles. San Francisco-based Lyft is testing autonomous cars on the streets of San Francisco and Phoenix in partnership with General Motors. Its main competitor Uber is starting to carry passengers around Pittsburgh in autonomous cars with a human backup driver. READ MORE