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Jaguar Land Rover’s investment into the company comes directly from their venture capital arm, InMotion, which the company created to invest in forward-thinking mobility companies. So far the venture has taken positions in six investments; Lyft, GoKid, Sheprd, SPLT, Synaptiv, and toBoot.
The investment and partnership will be focused on bringing self-driving cars to market and eventually connecting them to Lyft’s rideshare network. “We’re excited to join forces with Jaguar Land Rover and InMotion,” said John Zimmer, Lyft President and Co-founder. “Lyft envisions a future where shared mobility will transform cities and improve people’s lives. This partnership will help us achieve that ambitious goal.”
Jaguar is also looking to develop a line of electric vehicles, starting with the I-Pace. The I-Pace will deliver 220 miles of range and is expected to arrive in 2018. “This is a strategic investment for both parties as we focus on innovating new mobility solutions for our customers. Collaborating with an expanding technology business like Lyft is going to help us both accelerate our ambitions,” said Hanno Kirner, Executive Director of Corporate and Strategy, Jaguar Land Rover.