InMotion, Jaguar Land Rover’s mobility services business, has announced a US$25m (£19m) investment in Lyft, the fastest-growing rideshare company in the US.
This company says the investment will support Lyft’s expansion and technology plans and 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 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, the Managing Director of 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.”
Lyft’s President and co-founder John Zimmer added, “We’re excited to join forces with Jaguar Land Rover and InMotion. Lyft envisions a future where shared mobility will transform cities and improve people’s lives. This partnership will help us achieve that ambitious goal.”
JLR says 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.