Jaguar invests around USD 25 million in Lyft, both parties to team up and work on autonomous-driving technology

June 12, 2017


Renowned British multinational automaker Jaguar, has reportedly invested around USD 25 million in Lyft, the global transportation network company headquartered in San Francisco, California, to expand their self-driving and car rental business. The deal, which is approximately worth GBP 19 million, is the latest venture propagated by Lyft to expand its portfolio of automotive and tech partners. Jaguar Land Rover, owned by Tata Motors, one of the big daddies of global automotive market, has teamed up with Lyft particularly to test its mobility services.

This investment by Jaguar has marked another victory for Lyft, which has lately been on a merger and acquisition spree. Reportedly, the ride-hailing company has raised around USD 600 million by means of a huge funding round, out of which USD 25 million has been Jaguar’s contribution. This investment has gained ground via Jaguar Land Rover’s InMotion, the mobility services subsidiary. As per the terms and conditions of the agreement, Jaguar will provide the drivers of Lyft, with a fleet of their Jaguar automobiles and Land Rover vehicles. The partnership will also allow InMotion to test its mobility services with Lyft’s autonomous vehicles.

As per reliable sources, Lyft is on an all-time high to acquire as many tech and auto companies as possible. The month of May witnessed Lyft partnering with Alphabet Inc.’s Waymo as well, which is actually Google’s sister concern. The company is currently in the legal process of suing Uber regarding self-driving car technology, despite the fact that its parents company is a prime investor in Uber.

Experts vouch for the fact that Lyft’s partnerships with numerous automakers is a planned move by the ride hailing firm to gain traction in the face of its arch rival, Uber’s legal problems. Uber has been, of late, plagued with critical issues, the latest of which has led to Travis Kalanick, Uber’s CEO, to almost step back from his leadership position. Unlike Uber, Lyft reportedly has different business approaches, which experts believe, it is intent on maintaining.

Lyft had also partnered with General Motors last year, with an aim to mutually work on autonomous driving projects. The automotive behemoth had invested a massive USD 500 million in the company. Besides, last week, Lyft also established a research partnership with NuTonomy, the self-driving startup. Through this agreement, both the firms aim to analyze how passengers book an autonomous car and the way they interact with it. In addition, both companies plan to work on a pilot program that intends to test self-driving vehicles in Boston.

Renowned British multinational automaker Jaguar, has reportedly invested around USD 25 million in Lyft, the global transportation network company headquartered in San Francisco, California, to expand their self-driving and car rental business. The deal, which is approximately worth GBP 19 million, is the latest venture propagated by Lyft to expand its portfolio of automotive and tech partners. Jaguar Land Rover, owned by Tata Motors, one of the big daddies of global automotive market, has teamed up with Lyft particularly to test its mobility services.

This investment by Jaguar has marked another victory for Lyft, which has lately been on a merger and acquisition spree. Reportedly, the ride-hailing company has raised around USD 600 million by means of a huge funding round, out of which USD 25 million has been Jaguar’s contribution. This investment has gained ground via Jaguar Land Rover’s InMotion, the mobility services subsidiary. As per the terms and conditions of the agreement, Jaguar will provide the drivers of Lyft, with a fleet of their Jaguar automobiles and Land Rover vehicles. The partnership will also allow InMotion to test its mobility services with Lyft’s autonomous vehicles.

As per reliable sources, Lyft is on an all-time high to acquire as many tech and auto companies as possible. The month of May witnessed Lyft partnering with Alphabet Inc.’s Waymo as well, which is actually Google’s sister concern. The company is currently in the legal process of suing Uber regarding self-driving car technology, despite the fact that its parents company is a prime investor in Uber.

Experts vouch for the fact that Lyft’s partnerships with numerous automakers is a planned move by the ride hailing firm to gain traction in the face of its arch rival, Uber’s legal problems. Uber has been, of late, plagued with critical issues, the latest of which has led to Travis Kalanick, Uber’s CEO, to almost step back from his leadership position. Unlike Uber, Lyft reportedly has different business approaches, which experts believe, it is intent on maintaining.

Lyft had also partnered with General Motors last year, with an aim to mutually work on autonomous driving projects. The automotive behemoth had invested a massive USD 500 million in the company. Besides, last week, Lyft also established a research partnership with NuTonomy, the self-driving startup. Through this agreement, both the firms aim to analyze how passengers book an autonomous car and the way they interact with it. In addition, both companies plan to work on a pilot program that intends to test self-driving vehicles in Boston.