Auto parts maker Magna invests $200 mln in Lyft: Reuters
Canadian automotive parts supplier Magna International Inc said this week it will invest US$200 million in Lyft Inc and work with the U.S. ride-hailing company to manufacture self-driving cars, Reuters reported. The news comes three months after San Francisco-based Lyft made its international debut in Toronto, taking on much bigger rival Uber Technologies Inc, which has been operating in Canada for over five years. Lyft has previously secured investments from Ontario Teachers’ Pension Plan and Public Sector Pension Investment Board (PSP Investments).
16 March 2018•1 min read
