Jaguar Land Rover has announced that it has invested US$25 million in ride-sharing company Lyft. The investment was done through InMotion Ventures, JLR’s unit that focuses on new innovations and technologies.
This money will help Lyft, one of the fastest growing rideshare companies, expand its presence and improve its technology. It will also help Jaguar Land Rover to develop and test its mobility services including autonomous cars. As a part of this deal, JLR will supply a range of cars to Lyft. Other than providing the usual services, these cars will also be used for developing autonomous technologies.
“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 kind of transport problems Jaguar Land Rover’s customers face. Personal mobility and smart transportation is evolving and this new collaborative venture will provide a real-world platform in helping us develop our connected and autonomous services,” said Sebastian Peck, managing director, InMotion.
Over the last few years, a lot of manufacturers have been focusing on autonomous technology. A few of them have tied up with ridesharing companies like Lyft. In fact, General Motors, has also invested $500 million in Lyft with the goal of eventually deploying its driverless Chevy Bolts on the rideshare network.