$US25m investment in Lyft from JLR
Financial Lyft: Jaguar Land Rover has invested $US25 million into ride-sharing service Lyft, which it hopes will be a mutually beneficial partnership.
Jaguar Land Rover announces investment in ride-sharing platform Lyft worth $US25m
14 June 2017
By ROBBIE WALLIS
JAGUAR Land Rover (JLR) and its mobility services business InMotion have
announced a $US25 million ($A33.11 million) investment in ride-sharing platform
Lyft, as well as providing them with a fleet of Jaguar and Land Rover vehicles.
The technology collaboration will allow InMotion to develop and test its
mobility services which include autonomous vehicles, while the investment will
allow Lyft to expand and further support its technology plans.
InMotion managing director Sebastian Peck said the partnership would be
beneficial to the company’s development process.
“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,” he said.
“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 also recently invested in Detroit-based digital carpool business SPLT,
which works in collaboration with Lyft to provide non-emergency medical
In January last year, General Motors announced a $US500 million investment in
Lyft and other similar companies while introducing its global car-sharing
service named Maven.
GM products such as the all-electric Chevrolet Bolt have been designed to be
compatible with ride-sharing technologies, a phenomenon that many other
manufacturers are investing in.
Mercedes-Benz parent company Daimler has invested into Car2Go in North America
and Europe, Toyota has taken a financial stage in ride-sharing giant Uber,
Volkswagen Group pumped $US300 million into Isreali start-up Gett, and BMW’s
iVentures division invested an undisclosed amount into Californian corporate
carpooling service Scoop.