Magna and Lyft’s Multi-Year Partnership to Develop and Manufacture Self-Driving Systems at Scale


Sidley represented Magna, a mobility technology company and one of the world’s largest automotive suppliers, in a multi-year collaboration with Lyft, North America in which the companies will jointly fund, develop and manufacture self-driving systems. In addition, Magna will invest $200 million in Lyft equity.

Magna, a mobility technology company and one of the world’s largest automotive suppliers, and Lyft, North America’s fastest growing rideshare company, finalized 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.

Sidley Austin advised Magna with a team including Hank Barry (Emerging Companies and Venture Capital), Sarah Preisler (Technology & IP Transactions) and Peter Huston (Antitrust and Competition), Scott Freeman, Nick DeAngelis and Courtney Sladic (M&A); Joel Mitnick, Marc Raven and Miriam Carroll (Antitrust/Competition); Steven Liang (Technology & IP Transactions); Peter Kang (Intellectual Property Litigation); Wendy Lazerson (Labor, Employment and Immigration); Elizabeth Chiarello, Maja Eaton and Bojan Manojlovic (Products Liability); Bojan Guzina (Corporate Reorganization and Bankruptcy); Matthew Johnson (Employee Benefits and Executive Compensation); Louis Kimmelman (International Arbitration); Pamela Martinson (Global Finance); James Mendenhall (International Trade).

Involved fees earner: Hank Barry – Sidley Austin LLP; Scott Freeman – Sidley Austin LLP; Nick DeAngelis – Sidley Austin LLP; Courtney Sladic – Sidley Austin LLP; Sarah Preisler – Sidley Austin LLP; Steven Liang – Sidley Austin LLP; Peter Kang – Sidley Austin LLP; Peter Huston – Sidley Austin LLP; Joel Mitnick – Sidley Austin LLP; Marc Raven – Sidley Austin LLP; Miriam Carroll – Sidley Austin LLP; Wendy Lazerson – Sidley Austin LLP; Matthew Johnson – Sidley Austin LLP; Elizabeth Chiarello – Sidley Austin LLP; Maja Eaton – Sidley Austin LLP; Bojan Manojlovic – Sidley Austin LLP; Louis Kimmelman – Sidley Austin LLP; Bojan Guzina – Sidley Austin LLP; Pamela Martinson – Sidley Austin LLP; James Mendenhall – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: Magna International Inc.;

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Author: Ambrogio Visconti