Magna joins Lyft to make self-driv­ing sys­tems

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Magna, a mo­bil­ity tech­nol­ogy com­pany and one of the world’s largest au­to­mo­tive sup­pli­ers, and Lyft, North Amer­ica’s fastest grow­ing rideshare com­pany, has 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 widerange 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. Lyft’s lead­er­ship in rideshar­ing and Magna’s au­to­mo­tive ex­per­tise make this strate­gic part­ner­ship ideal to ef­fect a pos­i­tive change as a new trans­porta­tion ecosys­tem un­folds,” Swamy Ko­ta­giri, Magna Chief Tech­nol­ogy Of­fi­cer, said.

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

The 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; and Lyft will utilise Magna’s vast au­to­mo­tive ex­pe­ri­ence for its fleet’s self-driv­ing sys­tems. This scal­able tech­nol­ogy is ex­pected to be mar­ket-ready in a few years and can be de­ployed across the in­dus­try through Magna.

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