Lyft Inc. is expanding its roster of automotive partners and the latest investor is none other than the iconic Jaguar Land Rover who has just invested $25 million and some of its iconic car fleet to build self-driving cars.
Lyft has just raised a colossal fund rounding of $600 million from its high profile partners including Waymo, Nutonomy and now the Jaguar Land Rover; the massive funding is aimed to build autonomous cars. The British company behind the two iconic car brands announced Monday that it was investing $25 million into Lyft to help the ride-hailing business expand and develop technologies.
And the investment in Lyft goes beyond just funds as it is providing Lyft, a fleet of Jaguars and Land Rover vehicles as the part of tie-up. The collaboration with InMotion will see the Jaguar Land Rover-owned company “develop and test its mobility services, including autonomous vehicles” using Lyft’s platform. But still, how the self-driving autonomous cars will be deployed in the coming decades is ill-defined. Ride-hailing companies like Lyft, India’s Ola, China’s Didi Chuxing or Uber could one day buy their own autonomous vehicles, share profits with self-driving technology makers that operate cars on their networks or face competition from new autonomous ride-hailing systems.
Autonomous cars may still be a long game, but it surely has attracted interests of high profile tycoons including Tesla owner Elon Musk. The companies plan to look at how passengers book and route a self-driving car and how they interact with it. And 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. And the next the great news here is that the next Lyft you book could be a Land Rover or a Jaguar!