Jaguar Land Rover invests $25 million in ride-share operator Lyft
- Author: Zachary Reyes Jun 12, 2017,
Jun 12, 2017, 13:56
Announced today by the United Kingdom carmaker's investment arm, InMotion Ventures, the £19m injection will enable Jaguar to develop and test its mobility services, including driverless cars, while also supplying Uber-rival Lyft with a fleet of Jaguar and Land Rover vehicles.
The investment by the carmaker, owned by Indian conglomerate Tata, will be led by its InMotion unit, which develops driverless cars and other new services.
With multiple projects working towards the acceleration of the development process, this could place Lyft and its partners at the forefront of the global race to achieve practical autonomous driving capabilities.
It will also supply Lyft drivers with a fleet of Jaguar and Land Rover vehicles.
The collaboration will provide a 'real-world platform helping us develop our connected and autonomous services, ' InMotion Managing Director Sebastian Peck said.
Lyft president and co-founder, John Zimmer, said he believed shared mobility would "transform cities and improve people's lives".
"We are excited to collaborate with a leading platform like Lyft not only on developing premium mobility solutions but also devising innovative solutions to the transport problems Jaguar Land Rover's customers face".
InMotion earlier invested in SPLT, a Detroit-based digital carpool business.
There has been increased interest in mobility companies such as Uber and Lyft after it has been predicted that personal auto ownership will decline and ride-sharing will become more prolific.