JLR's InMotion invests in vehicle share platform

Violet Tucker
June 13, 2017

Jaguar Land Rover's investment into the company comes directly from their venture capital arm, InMotion, which the company created to invest in forward-thinking mobility companies. Lyft drivers also will get access to "a fleet of Jaguar and Land Rover vehicles", according to a statement, although no further details were provided.

Preceding this investment, InMotion also invested in a business connected to Lyft called SPLT.

Meanwhile, Lyft also last month teamed up with Waymo, Google parent company Alphabet's self-driving auto unit, to bring autonomous vehicle technology to the masses.

Lyft also has a partner in General Motors, which a year ago invested $500 million in Lyft and, according to reports, plans to deploy thousands of self-driving Chevy Bolts through Lyft by 2018. Jaguar's parent company Tata Group itself previously invested around $100 million in Uber and formed a financing partnership in India a year ago.

The investment was part of Lyft's most recent round of fundraising, which closed in April at $600 million.

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Lyft has been making solid strides in its pursuit of an autonomous ride-hailing service, and some big names are taking notice. In May, Lyft had announced that it was working with Alphabet Inc's Waymo. In addition, JLR will be allowed to test its autonomous vehicles on Lyft's ride-hailing network.

Both companies invested in Lyft for the same reason - to help develop and deploy autonomous vehicles.

Similarly, automobile companies such as Diamler AG and Volvo Cars have partnership agreements with Uber on autonomous technology.

"We're excited to join forces with Jaguar Land Rover and InMotion", said John Zimmer, Lyft president and co-founder.

Lyft drivers will have access to Jaguar and Land Rover vehicles, but details haven't yet been revealed on how that will work and how many vehicles will be included.

Other reports by Guamnewswatch

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