Magna, one of the world’s largest automotive suppliers, and Lyft, a rideshare company, have agreed a multi-year collaboration in which the companies will jointly fund, develop, and manufacture self-driving systems.
In addition, Magna will invest $200 million in Lyft equity.
The establishment of this partnership is subject to regulatory approval.
This partnership is an industry-first and positions Magna and Lyft to enable the development and manufacturing of self-driving systems at scale. [Read more…] about Magna to invest $200 million in Lyft and manufacture self-driving systems ‘at scale’