Jaguar Land Rover unit invests $25 million in Lyft to help develop self-driving cars
Mon Jun 12 2017
Mark Cooper (1792 articles)

Jaguar Land Rover unit invests $25 million in Lyft to help develop self-driving cars

Britain’s biggest carmaker Jaguar Land Rover said its mobility services business, InMotion Ventures, would invest $ 25 million in U.S. ride services company Lyft Inc to help develop and test technology for self-driving cars.

The auto industry and technology companies are racing to develop self-driving technology, which in the years to come is expected to transform transportation by cutting costs of ride services and changing the way people buy and use cars.

InMotion will also supply Lyft with a fleet of Jaguar and Land Rover vehicles, the automaker said on Monday.

InMotion’s investment follows its recent seed investment in SPLT, the Detroit-based digital carpool business, which works with Lyft to provide non-emergency medical transport.

 

Mark Cooper

Mark Cooper

Mark Cooper is Political / Stock Market Correspondent. He has been covering Global Stock Markets for more than 6 years.

Discussion

Rules of Discussion on Live Index

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.