Waymo and Uber might have been testing self-driving technologies and cars for a while now, but Lyft is determined not to be left behind. The ride-hailing company has teamed up with the largest auto parts supplier in North America to develop and manufacture their own autonomous car systems. #automagic
Magna has invested $200 million in Lyft equity as part of their new agreement to join forces and launch autonomous cars. The technology will be made available to all car manufacturers. In this sense, Magna’s contacts are crucial – the company sits at the base of the production process of cars from titans like BMW and Mercedes-Benz. They’re supplying vital auto parts from seats to mirrors.
In this new deal, Magna will focus on manufacturing and Lyft on development of autonomous tech. Both companies will share resources though with their employees working closely on Level 5 hardware and software.
It’s not the first partnership Lyft is after in order to get a slice of the autonomous vehicle market. The company has previously worked with Nutonomy, Ford, General Motors and even Waymo.It also has its own engineering space in Silicon Valley, appropriately called Level 5.
Soon, ride-hailing and self-driving vehicles will go hand in hand.