Magna And Lyft Joins Hand On Autonomous Cars
Ride-hailing firm Lyft is partnering with Magna, the huge Canadian supplier for auto parts, to design self-driving cars. This will allow both the companies to share expenses on a multi-year initiative that can place them in the top position in the leader board in self-directed technology.
The firms declared the joint venture this week and also claimed that Magna will spend $200 Million in Lyft. Chief strategy officer of Lyft, Raj Kapoor, claims that the firm requires auto industry knowledge to make autonomous car elements and ultimately make the cars. Auto manufacturers know how to develop cars so they meet security guidelines and can be made with no trouble, Kapoor claimed.
“The auto market has idealized all of these equipments and all of those procedures,” he claimed. Once tech is designed, Magna will be free to trade it to other firms, which will be confident to place their cars onto ride-sharing network of Lyft, claimed Kapoor.
The partnership is a big step towards success for both firms, claims Sam Abuelsamid, the Research analyst at Navigant, to the media in an interview. Before the declaration, he was doubtful of autonomous vehicle efforts of Lyft since it had no production ability and very restricted data to provide from its network for ride-hailing.
Earlier in 2017, Lyft made an announcement that an autonomous vehicle will shortly be accessible from the company as a one-ride option in the San Francisco Bay Area, since the ride-services firm inclines up its attempts to turn out to be a serious player in the technology for autonomous vehicle.
Lyft claimed that self-driving vehicles will shortly be sent out to specific users who ask for a ride in the area via the app. The cars will arrive from a startup located in Mountain View, California, Drive.ai, that makes software to turn vehicles into autonomous cars.