JLR Unit Invests $25 Million In Lyft To Help Develop Self-Driving Cars

InMotion Ventures,would invest $25 million in U.S. ride services company Lyft Incto. InMotion will also supply Lyft with a fleet of Jaguar and Land Rover vehicles

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Highlights

  • InMotion will also supply Lyft with a fleet of Jaguar and Land Rover cars
  • InMotion's investment follows its recent seed investment in SPLT
  • Both companies will develop and test technology for self-driving cars

Britain's biggest carmaker Jaguar Land Rover said its mobility services business, InMotion Ventures,would invest $25 million in U.S. ride services company Lyft Incto help develop and test technology for self-driving cars.

Jaguar

Jaguar Cars

The auto industry and technology companies are racing to develop self-driving technology, which in the years to come is expected to transform transportation by cutting costs of ride services and changing the way people buy and use cars.

InMotion will also supply Lyft with a fleet of Jaguar and Land Rover vehicles, the automaker said on Monday. InMotion's investment follows its recent seed investment in SPLT, the Detroit-based digital carpool business, which works with Lyft to provide non-emergency medical transport.

 
© Thomson Reuters 2017


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