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|14th June 2017, 14:02||#1|
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Jaguar Land Rover invests $25 million in Lyft (Uber competitor)
Jaguar Land Rover has invested US$ 25 million in Lyft - a US-based ride-hailing service provider. Under this deal, JLR's mobility service vertical - InMotion, will be working with Lyft to develop and test mobility services and self-driving cars.
In addition to the aforementioned investment, Jaguar Land Rover will also provide a fleet of its cars to the ride-hailing service provider. These cars will likely be used by select Lyft drivers for testing purposes. Lyft has been trying to start testing autonomous cars under controlled fleets and the deal with JLR is being considered to be a step in this direction.
Lyft, which rivals Uber in the on-demand ride-hailing service vertical, has attracted investments from various companies, including automakers like General Motors, which invested US$ 500 million in the start-up in early 2016. The company has also signed deals with Google's self-driving unit - Waymo and NuTonomy - a software company working in the field of autonomous vehicles.
Source: NY Post
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