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JLR Unit Invests $25 Million in Lyft Ride-Hailing Service
Jaguar Land Rover Ltd.’s InMotion Ventures unit is investing $25 million (£19 million) in ride-hailing service Lyft Inc. to support the San Francisco-based company’s expansion and push into autonomous cars.
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Jaguar Land Rover Ltd.’s InMotion Ventures unit is investing $25 million (£19 million) in ride-hailing service Lyft Inc. to support the San Francisco-based company’s expansion and push into autonomous cars.
JLR will provide Lyft with an unspecified number of Jaguar and Land Rover vehicles. The carmaker says the collaboration will help it test new mobility services on a broad scale.
InMotion Ventures is JLR’s new mobility services business. The Lyft investment was part of a fundraising round by the U.S. company that closed in April. Earlier this year InMotion provided seed investment in SPLT, a Detroit-based digital carpool service startup.
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