LONDON: InMotion, Jaguar Land Rover’s mobility services business, announced a USD$25mil (RM108.5mil) investment in Lyft, a fastest-growing rideshare company in the US.
The investment supports Lyft’s expansion and technology plans and it will also provide Jaguar Land Rover's InMotion Ventures with the opportunity to develop and test its mobility services, including autonomous vehicles, and to supply Lyft drivers with a fleet of Jaguar 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 InMotion managing director Sebastian Peck.
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.
The Lyft investment was included as part of the company's most recent round of fundraising, which closed in April.
“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,” added Peck.
“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.”
"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,” said Jaguar Land Rover executive director of Corporate and Strategy Hanno Kirner.
