Lyft joining forces with Jaguar Land Rover in tech venture

Terrell Bush
June 13, 2017

The investment is from InMotion Ventures, a unit of Jaguar Land Rover that focuses on autonomous cars and other technology. As part of the investment, Jaguar Land Rover has agreed to supply a fleet of its vehicles including Jaguar and Land Rover cars.

According to JLR, the deal will provide InMotion with new opportunities to develop and test various new mobility services, including autonomous driving technology. The thought of hailing a Lyft and a self-driving Range Rover showing up will be quite a nice ride to work.

Lyft's partnership with JLR comes on the heels of last month's surprise announcement that the ride-hailing startup is working with Alphabet Inc.'s Waymo. Uber, meanwhile, has expanded rapidly around the world and become valued at nearly $70bn, although multiple scandals involving the company of late have been seen as a boost for Lyft, in winning over both passengers and potential partners.

There has been increased interest in mobility companies such as Uber and Lyft after it has been predicted that personal vehicle ownership will decline and ride-sharing will become more prolific. Jaguar's parent company Tata Group itself previously invested around $100 million in Uber and formed a financing partnership in India previous year.

Jaguar Land Rover is becoming a bigger and bigger player in the self-driving space, already building its own test vehicles and even chipping away at adventurous versions that go off-road.

JLR has made the investment through InMotion, its investment fund used for promoting companies that development new technologies for future cars and mobility.

"This partnership will help us achieve that ambitious goal", he added.

Coming one-step closer to its vision of having a self-driving fleet by 2021, Lyft has roped in one more partner to its long list of associates.

Other reports by TheDigitalNewspaper

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