Jaguar Land Rover’s mobility and smart transportation investment, InMotion Ventures, has picked up a stake in ride-hailing company Lyft.
The deal sees the Tata Motors-owned British automaker invest $25m (£19m) into Uber’s main US rival to support its expansion and technology plans. Furthermore, InMotion will have the opportunity to develop and test its mobility services – including autonomous vehicles – and supply Lyft drivers with Jaguar and Land Rover vehicles.
“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,” said Sebastian Peck, managing director at InMotion. “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.”
The $25m investment is part of Lyft’s recent $500m funding round, which closed in April.
“We’re excited to join forces with Jaguar Land Rover and InMotion,” said John Zimmer, Lyft president and co-founder. “Lyft envisions a future where shared mobility will transform cities and improve people’s lives. This partnership will help us achieve that ambitious goal.”
The investment also adds to InMotion’s recent seed investment in SPLT, a Detroit-based enterprise-first carpooling app which works with Lyft to provide non-emergency medical transportation to undeserved markets.