Jaguar Land Rover Invests $25 Million in Lyft for Self-driving Cars
Jaguar Land Rover's mobility services business, InMotion Ventures, would invest $25 million in U.S. based Lyft Inc to help develop and test technology for self-driving cars.
Jaguar Logo. (Image: REUTERS)
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 Inc to help develop and test technology for self-driving 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.
Recommended For You
- War Teaser Trailer Starring Hritik Roshan Has People Contesting Memes With Super 30
- Rohit and Bumrah Included as ICC Announce Team of the World Cup
- Shah Rukh Khan to Receive Honorary Doctorate from La Trobe University, Melbourne
- All Variants of The Apple iPhone XR Get Completely Sold Out on Day One of Amazon Prime Day Sale
- Amazon Prime Day Sale: The Echo Show 5 Goes on Sale For Rs 5,399 And This May be Its Lowest Price Ever