Jaguar Land Rover to invest $25 million into Uber rival Lyft to help the ride-hailing business expand and develop technologies for self-driving cars.
The investment was made through Jaguar Land Rover’s mobility services business InMotion Ventures that focuses on autonomous cars and other technology. As part of the investment, Jaguar Land Rover has agreed to supply a fleet of its vehicles including Jaguar and Land Rover cars.
InMotion had earlier invested in SPLT, a Detroit-based digital carpool business. SPLT works with Lyft to provide non-emergency medical transport.
Lyft will also be forming a research partnership with self-driving startup nuTonomy. The companies plan to look at how passengers book and route a self-driving car and how they interact with it. Lyft has also partnered with General Motors to research autonomous ride-hailing.
Tata Group’s private equity firm Tata Opportunities Fund is an investor in Uber, having invested a reported $80 million – $100 million in August 2015.
Ratan Tata is an investor in ride sharing firm Ola, having invested around Rs 1 crore in Ola’s parent company ANI Technologies in 2015.