In the early days of air transport, pilots relied on a nationwide network of beacons for night time navigation. A hundred years later, the first generation of autonomous vehicles may also rely on light beams to navigate safely.

AURORA, ON--Magna International Inc., a leading Tier One supplier, will develop and manufacture self-driving cars for Lyft, a leading ride-hailing company. The strategic partnership, an industry first, will enable Magna to mass-produce autonomous vehicles.

MUNICH—BMW could spend as much as $8.6 billion on R&D this year to develop and produce electric and autonomous vehicles.

The automotive industry is undergoing the biggest transformation in its 130-year history. Automakers and suppliers around the world are scrambling to develop autonomous vehicles. And, they’re under increasing pressure from outsiders ranging from Silicon Valley tech giants to startup entrepreneurs.

For decades, many people have fantasized about flying cars and roadworthy aircraft. While several successful prototypes have been built in the past, the idea has never gotten off the ground. But, that may finally be about to change.

Several years before Clearpath Robotics’ founders were named to Business Insider’s “People to Watch in 2015” list, Matthew Rendall, Ryan Gariepy and Bryan Webb were University of Waterloo mechatronics engineering students.