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Jaguar Land Rover invests £20m in Lyft

Monday 12 June 2017, By Autovolo

Jaguar Land Rover invests £20m in Lyft

Jaguar Land Rover invests £20m in Lyft

Jaguar Land Rover (JLR) has invested £20m in American taxi company Lyft.

InMotion, JLR’s mobility services business, invested the money in order to support the expansion of Lyft and its technology plans. The finances will also help InMotion to advance its own plans for mobility solutions, such as autonomous vehicles.

Lyft drivers will also have access to a fleet of various Jaguar and Land Rover vehicles.

Sebastian Peck, managing director of InMotion, 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.”

John Zimmer, president and co-founder of Lyft, said: “We’re excited to join forces with Jaguar Land Rover and InMotion. Lyft envisions a future where shared mobility will transform cities and improve people’s lives. This partnership will help us achieve that ambitious goal.”

Hanno Kirner, executive director of corporate and strategy at JLR, said: “This is a strategic investment for both parties as we focus on innovating new mobility solutions for our customers. Collaborating with an expanding technology business like Lyft is going to help us both accelerate our ambitions.”

At a value of £6bn, Lyft is a key rival to Uber in the US. In addition to JLR, it received an investment of £394m from General Motors in 2016.