Photo: Lyft

Magna, a Canadian automotive part supplier, is investing $200 million into Lyft for an equity stake, the companies said on Wednesday. They'll also work on self-driving car tech together, which will include integrating the technology into vehicles Magna helps manufacture.

Why it matters: Lyft is in the self-driving car race, along with rival Uber and a growing number of automakers and tech companies. In 2016, it took a $500 million investment from General Motors, also as part of a partnership to work on autonomous driving, and last year unveiled a Silicon Valley R&D office.

Details: "Magna and Lyft are co-funding and co-developing a self-driving system together," Lyft CEO Logan Green said during a press event. The partnership will include hardware, software, safety testing, and designs for manufacturing.

  • The two will work from Lyft's new Palo Alto, Calif. facility where it's been developing autonomous tech.
  • Magna will take the lead on manufacturing and will outfit cars from customer automakers with autonomous driving technology.

Partnership strategy: This is in line with Lyft's self-driving car strategy, which has emphasized working with many partners instead of a select few or doing everything in-house.

  • "From Lyft’s perspective, we don't want just one or two companies out there to have access to our technology," said Green.

Fun fact: Last year, iPod co-creator and Nest co-founder Tony Fadell joined Magna's tech advisory council.

Lyft declined to comment on the impact of its relationship with Magna on its partnership with General motors. It also declined to specify when its self-driving cars will be on the road.

Go deeper

Two officers shot in Louisville amid Breonna Taylor protests

Police officers stand guard during a protest in Louisville, Kentucky. Photo: Ben Hendren/Anadolu Agency via Getty Images

Louisville Metro Police Department said two officers were shot downtown in the Kentucky city late Wednesday, just hours after a grand jury announced an indictment in the Breonna Taylor case.

Driving the news: Metrosafe, the city's emergency services, said it received reports of a shooting at South Brook St. and Broadway Ave., near the area where protests were taking place. A police spokesperson told a press briefing the injuries of both officers were not life-threatening. One officer was "alert and stable" and the other was undergoing surgery, he said.

Updated 1 hour ago - Politics & Policy

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  1. Global: Total confirmed cases as of 9 p.m. ET: 31,778,331 — Total deaths: 974,436 — Total recoveries: 21,876,025Map.
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Biden: Breonna Taylor indictment "does not answer" call for justice

Former Vice President Joe Biden. Photo: Leigh Vogel/Getty Images

Former Vice President Joe Biden on Wednesday condemned the grand jury indictment of a Louisville police officer who entered Breonna Taylor's home in March in a botched drug raid that led to her death, saying in a statement the decision "does not answer" for equal justice.

The big picture: Biden called for reforms to address police use of force and no-knock warrants, while demanding a ban on chokeholds. He added that people "have a right to peacefully protest, but violence is never acceptable."

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