Magna and Lyft to manufacture self-driving systems at scale

Magna, a mobility technology company and one of the world's largest automotive suppliers, and Lyft, North America's fastest growing rideshare company, announced 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. In addition to self-driving vehicles that will be deployed on Lyft's own ridesharing network in the coming years, Magna has the ability to deploy the technologies across a wide-range of use cases to benefit the entire global mobility ecosystem.

"There is a new mobility landscape emerging and partnerships like this put us at the forefront of this change," said Swamy Kotagiri, Magna Chief Technology Officer. "Lyft's leadership in ridesharing and Magna's automotive expertise makes this strategic partnership ideal to effect a positive change as a new transportation ecosystem unfolds."

"Together with Magna, we will accelerate the introduction of self-driving vehicles by sharing our technology with automotive OEMs worldwide," said Lyft CEO Logan Green. "This is an entirely new approach that will democratise access to this transformative technology."

Partnership details include:

• 
  Lyft will lead the co-development of the self-driving system at its Palo Alto-based self-driving engineering centre
• Magna will lead manufacturing and join Lyft's development team onsite, contributing their vehicle systems knowledge, safety and ADAS expertise, and manufacturing capabilities
• Lyft and Magna will share jointly created IP and utilise Lyft data to improve systems
• Lyft will utilise Magna's vast automotive experience for its fleet's self-driving systems
• This scalable technology is expected to be market-ready over the next few years and can be deployed across the industry through Magna