Lyft joining forces with Jaguar Land Rover in tech venture

Lyft inks another self-driving tech partnership with Jaguar Land Rover						
						Start Ups															By:				CIOL Writers

Lyft inks another self-driving tech partnership with Jaguar Land Rover Start Ups By: CIOL Writers

UK-automaker Jaguar Land Rover is investing $25 million in Lyft to support the ride-hail company's autonomous and connected vehicle activities, the two companies announced today.

Jaguar Land Rover is becoming a bigger and bigger player in the self-driving space, already building its own test vehicles and even chipping away at adventurous versions that go off-road.

InMotion Ventures was set up past year to invest in new transport technologies. In India, Tata Motors has an arrangement with Uber under which the latter's drivers can buy Indica and Indigo cars at discounted rates as well as avail loans at attractive rates from Tata Motors Finance.

According to JLR, the deal will provide InMotion with new opportunities to develop and test various new mobility services, including autonomous driving technology. Under the agreement, the companies will collaborate on "mobility services", including self-driving cars. While Uber employs teams of engineers to work on developing its own self-driving technology, Lyft is focused on building a dense, diverse network of partnerships instead. JLR's presence in the United Kingdom and Europe could open up more opportunities for Lyft to spread into even more cities in its mission to transform mobility. The taxi-hailing company is valued at $7.5 billion (£6bn), and has also secured investment from the likes of General Motors, which ploughed in $500 million (£394m) in 2016.

CIOL Lyft rakes in UK's biggest carmaker Jaguar Land Rover with an investment of $25mn

Lyft has previously worked with General Motors and Google's autonomous auto manufacturer Waymo on self-driving vehicles.

The ride-sharing company recently scored a further $600 million in investment, $25 million of which came from Jaguar Land Rover.

Not only will this cash go toward the goal of taking drivers out of cars, the partnership will involve current vehicles, too.

The move follows InMotion's recent seed investment in SPLT, a Detroit-based digital carpool business which also works with Lyft to provide non-emergency transport.

AFCON 2019 Qualifiers: South Africa Stun Nigeria in Uyo
Queen's Speech set to be delayed as Theresa May continues DUP talks