Jaguar Land Rover invests $25 million in ride hailing service Lyft Inc to help them research in their own autonomous vehicle technology. The fundraising is a part of the much bigger $600 million investments that Lyft Inc attracted from various companies including private equity firm KKR.
Jaguar Land Rover will be supplying Lyft with a fleet of Jaguar and Land Rover vehicles to help Lyft develop and test self-driving cars.
Lyft has been aggressively pursuing partnerships with various industry pioneers and fresh startup companies. Just last week they teamed up with nuTonomy and will work on a program which will allow users to hail self-driving cars from the app. Other partnerships include with Alphabet’s Waymo and GM.
This investment is aligned with car manufacturer interest in the disruption space of smart transportation and smart cities.