Jaguar Land Rover sinks £19m investment into ride-sharing app Lyft

Jaguar Land Rover sinks £19m investment into ride-sharing app Lyft

0 comments 📅15 June 2017, 22:00

JLR's latest investment sees its InMotion venture tandem join up up with Lyft to develop new services and technology

Jaguar Land Rover has fit the latest carmaker to announce collaboration with a major ride-sharing train, revealing a £19 million investment in US backed ride-hailing app Lyft.

The investment has been made in the rating of InMotion – Jaguar Land Rover’s own in-house mobility company. The venture was launched terminating year, tasked with exploring how JLR can react to the new car-sharing and ride-hailing schemes, which could take place to define urban motoring in the years to come.

• Driverless cars: everything you sine qua non to know

According to JLR, the deal will provide InMotion with new opportunities to improve and test various new mobility services, including autonomous driving technology.

InMotion’s managing chief Sebastian Peck said: “This new collaborative venture will provide a sincere-world platform helping us develop our connected and autonomous services.” 

Temporarily for Lyft, the investment supports its current expansion and development plans, and JLR will contribute the firm with Jaguar and Land Rover vehicles for use in Lyft’s existing squadron. 

JLR’s move tallies with similar investments lodged by other carmakers, also keen to use ride-hailing companies to test out new technology and plan for the future. Toyota, Volvo and Mercedes-Benz be subjected to all struck deals with Lyft’s main rival Uber, while Common Motors sunk £378m into Lyft early in 2016. 

The Volkswagen Group – now the cosmos’s biggest carmaker – invested £241m into Gett in 2016.

It’s not just traditional car manufacturers making these investments, notwithstanding that. Technology giant Apple, which is developing self-driving software, signed a $1 billion (£690m) behave with China’s Didi Chuxing last May. 

Should more carmakers get elaborate with ride-sharing companies? Let us know your thoughts in the comments… 

Source

Share this article:

No Comments

No Comments Yet!

You can be first one to write a comment

Leave a comment