Jaguar Land Rover invested $25 million in ridesharing service Lyft

Car manufacturing group Jaguar Land Rover invested $US25 million (£19.6 million) in American ridesharing startup Lyft in April, according to a press release.

The investment came from Jaguar Land Rover’s InMotion investment fund, which it uses to invest in technology companies.

Jaguar Land Rover says that it will supply Lyft with vehicles and plans to work together with the company.

Lyft will also let Jaguar Land Rover get its hand on its fleet of self-driving cars.

Sebastian Peck, the head of InMotion, sent this statement about the investment in Lyft:

“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.

“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.”

This isn’t the first time that a car manufacturer has invested in a ridesharing startup. In May 2016 it was announced that Volkswagen had invested $US300 million (£235 million) in Gett.

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