Magna is also pouring $200 million into Lyft on top of the money needed for the project.

Both sides have strong incentives to team up. If Lyft is going to counter Uber and make driverless ridesharing a staple of its fleet, it needs self-driving systems that are refined and economical at the kind of volumes it needs. Magna, meanwhile, is one of the most influential automotive suppliers in the business -- this fast tracks the development of self-driving platforms it can sell to car makers. Whatever money the two invest right now could reap many rewards down the line.