InMotion, Jaguar Land Rover’s mobility services business, today announced a $25m (£19m) investment in Lyft, the fastest-growing rideshare company in the U.S.
In a strategic move that sets the company up to be at the forefront of the autonomous car revolution, Jaguar Land Rover (JLR) has used it’s mobility services business InMotion to invest in the US ridesharing service Lyft.
The investment of almost $32,000,000 (AUD) (£19m) will help Lyft expand, but also help JLR test its autonomous vehicle platforms and get Jaguar Land Rover cars on the road in use by Lyft drivers.
Sebastian Peck, InMotion Managing Director, said: “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.
“Personal mobility and smart transportation is evolving and this new collaborative venture will provide a real-world platform helping us develop our connected and autonomous services.”
InMotion, Jaguar Land Rover’s mobility services business, today announced a $25m (£19m) investment in Lyft, the fastest-growing rideshare company in the U.S.
Lyft is Uber’s biggest competitor, and is reported to be the fastest growing ride-sharing service in the USA – given Uber’s recent woes it’s a smart move to get involved with their fast moving competitor.
Lyft President and Co-founder John Zimmer explains the company’s vision for the future as “where shared mobility will transform cities and improve people’s lives. This partnership will help us achieve that ambitious goal.”
It’s not the first such investment for JLR – with InMotion also investing in SPLT, a carpool business which works with Lyft drivers to provide medical transport services.
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