Lyft joins forces with Magna for autonomous cars
The vehicles will be deployed at Lyft’s ridesharing services networks. In addition, Magna will market the technologies developed in its own clientele. Within the scope of the new muti-year partnership, Lyft will lead the co-development of the self-driving systems at its engineering center in Palo Alto (Calif.). Magna, in turn, will lead the manufacturing aspects and join Lyft’s development team onsite, contributing their vehicles systems knowledge including its expertise in the fields of safety and ADAS.
Both partners agreed to share the jointly created intellectual property and utilize Lyft data to improve the systems. Beyond the development of new vehicles, Lyft will have access to Magna’s vast automotive engineering expertise and be able to apply this knowledge to its own fleet of self-driving vehicles.
The collaboration will also include the joint funding of the R&D works. In addition, Magna will invest $200 million in Lyft equity.
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