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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

Afghanistan's president coming to Washington on Friday

Ashraf Ghani, left, president of Afghanistan, and Abdullah Abdullah, chairman of the High Council for National Reconciliation. Photo: Sean Gallup/Getty Images

As the U.S. troop withdrawal accelerates, President Biden will welcome Afghan President Ashraf Ghani and Abdullah Abdullah, chairman of Afghanistan’s High Council for National Reconciliation, at the White House on Friday.

Our thought bubble: Axios politics editor Glen Johnson, who traveled to Afghanistan while working for Secretary of State John Kerry, said inviting both Ghani and Abdullah to Washington shows the administration’s respect for the delicate balance of power in the country.

Educators face fines, harassment over critical race theory

People talk before the start of a rally against critical race theory being taught in schools at the Loudoun County Government center in Leesburg, Va. Photo: Andrew Caballero-Reynolds/AFP via Getty Images

Elementary school teachers, administrators and college professors are facing fines, physical threats, and fear of firing because of an organized push from the right to remove classroom discussions of systemic racism.

Why it matters: Moves to ban critical race theory are raising free speech concerns amid an absence of consistent parameters about what teachings are in or out of bounds.

Updated 9 hours ago - Politics & Policy

1 dead after pickup truck hits Pride spectators in Florida

Police investigate the scene where a pickup truck drove into a crowd of people at a Pride parade in Wilton Manors, Florida, on Saturday. Photo: Jason Koerner/Getty Images

A driver in a pickup truck hit spectators at a Pride festival in Wilton Manors, Florida, killing a man and leaving another person hospitalized Saturday, authorities said.

Details: Fort Lauderdale Mayor Dean Trantalis told reporters police had "apprehended the driver" and that the vehicle missed a parade car carrying Rep. Debbie Wasserman Schultz (D-Fla.) "by inches."