Ride-sharing company Lyft is hoping a new partnership with auto parts maker Magna will take its self-driving car efforts to a new level.
Specifically, Level 4, which refers to autonomous vehicles that can operate without any human being needing to take the wheel under a car’s normal operations — and the companies want to create such systems that will bring that technology to the masses.
Lyft and Magna said the technologies they develop will be used in Lyft’s own ride-sharing network, and will also be made available to all of the automobile industry.
San Francisco-based Lyft, and Magna, of Aurora, Canada, made the announcement late Wednesday. The partnership calls for Magna to invest $200 million in Lyft, and for Lyft to lead the development of the vehicles at its Palo Alto self-driving engineering center.
“This is an entirely new approach that will democratize access to this transformative technology,” said Lyft Chief Executive Logan Green, in a statement announcing the partnership.
Magna, which builds all kinds of automotive parts including car exteriors, power trains, mirrors and seating systems, is no stranger to the growing market for self-driving cars. The company is part of a group that includes Intel, BMW and Mobileye that is working on self-driving car technology. It counts Tesla, Volkswagen and Toyota among its carmaker customers.
Lyft has placed more importance on self-driving cars over the last year, with the opening of its Palo Alto engineering center being the standout example of its commitment to the technology. Last week, Lyft said it will partner with GoMentum Station to test its self-driving cars at GoMentum’s 5,000 acre facility in Concord.
