In its January 16, 2020 earnings release, Magna International disclosed that it is ending its two-year partnership with Lyft that was started to co-develop self-driving technology. While Magna said it will continue to work with Lyft on “areas related to autonomous development,” it did not elaborate beyond that.
Magna (which actually makes money) invested $200 million in Lyft back in 2018. It seems that Magna doesn’t think there is a business case for Level 5 autonomy in the short-to-medium run, and instead is focusing its efforts on growing its assisted driving (Level 3) offerings in the next five years.
As industry players continue to discover just how difficult Level 5 autonomy will be (especially without guidance, uniform regulation, and federal funding), look for more companies to scale back their ambitions and focus on lower hanging fruit in the AV space.