Jaguar Land Rover and InMotion Ventures Put $25 Million into Lyft Ridesharing Platform
Investment will give InMotion Ventures an opportunity to improve its mobility services and provide Lyft drivers with access to Jaguar Land Rover vehicles.
As rewarding as it can be to own your own car, the fact is that ridesharing is big business these days. Lining up a ride in a car you don’t have to maintain is as easy as swiping and tapping your smartphone. Soon you’ll be able to do that through Lyft and get picked up in a new Jaguar or Land Rover vehicle.
Jaguar Land Rover announced its mobility services business InMotion Ventures has invested $25 million in the Lyft ride-sharing platform. Not only will that allow Lyft to expand (it’s currently in more than 350 cities across the U.S.), but it’ll also give InMotion Ventures the opportunity to improve and test its products and services, including autonomous vehicles. On top of that, Lyft drivers will get to wheel around in Jaguars and Land Rovers.
According to JLR, “InMotion’s latest investment follows its recent seed investment in SPLT, the Detroit-based digital carpool business, which works with Lyft to provide non-emergency medical transport.”
This announcement follows news from a few weeks ago that JLR welcomed the two newest startups into its Portland Tech Incubator program. For six months, the automaker will assist each company by providing financial investment, services, and development support. One of the companies, LISNR, is concentrating on in-car connectivity tied into seat personalization, remote apps, and keyless entry. The other startup, PILOT, is working on ways to apply modern advanced driver-assistance systems (ADAS) to cars that are already on the road. Ultimately, it intends to create a path from ADAS to autonomous car functionality – right up InMotion Ventures’ alley.
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