Jaguar Land Rover And Inmotion Invest $25M In Ride-Sharing Platform Lyft

June 12, 2017 by Jaguar Land Rover North America LLC

•InMotion invests in Lyft to collaborate on mobility services

•Jaguar Land Rover to supply Lyft drivers with a fleet of vehicles

•Technology collaboration will allow innovation and wide scale testing of new services

•Lyft is the fastest-growing rideshare company in the US

•InMotion Ventures is Jaguar Land Rover's new mobility services business

(COVENTRY, U.K.) – June 12, 2017 - InMotion, Jaguar Land Rover's mobility services business, today announced a $25m (£19m) investment in Lyft, the fastest-growing rideshare company in the U.S.

This investment will support Lyft's expansion and technology plans. It will also provide Jaguar Land Rover's InMotion Ventures with the opportunity to develop and test its mobility services, including autonomous vehicles, and to supply Lyft drivers with a fleet of Jaguar and Land Rover vehicles.

Sebastian Peck, InMotion Managing Director, said, '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.'

'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.'

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Hanno Kirner, Executive Director of Corporate and Strategy, Jaguar Land Rover, said, '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.'

InMotion's latest investment follows its recent seed investment in SPLT, the Detroit-based digital carpool business, which works with Lyft to provide non-emergency medical transport.

The Lyft investment was included as part of the company's most recent round of fundraising, which closed in April.

About Jaguar Land Rover

Jaguar Land Rover is the UK's largest automotive manufacturer, built around two iconic British car brands: Land Rover, the world's leading manufacturer of premium all-wheel-drive vehicles; and Jaguar, one of the world's premier luxury sports sedan and sports car marques.

The company employs over 40,000 people globally, with 330 in the U.S. and supports around 275,000 more through our dealerships, suppliers and local businesses. Manufacturing is centered in the UK, with additional plants in China, Brazil, India and Slovakia.

At Jaguar Land Rover we are driven by a desire to create class-leading products that deliver great customer experiences. The largest investor in R&D in the UK manufacturing sector, we have invested £12 billion (USD$15.7 billion) in the last five years and in the current year alone will spend over £3.5 billion (USD$4.5 billion) on new product creation and capital expenditure. Last year Jaguar Land Rover sold over 583,000 vehicles in 136 countries, with nearly 80 percent of our vehicles produced in the UK being sold abroad.

About InMotion

InMotion Ventures invests in high-growth companies in the mobility and smart transportation sector. Powered by Jaguar Land Rover, we're dedicated to backing innovations that will change the way we move.

We invest globally at all stages and our London-based seed programme offers pre-seed investment and hands-on support to up to 10 early stage start-ups every year.

Alongside our core investment activity, we also collaborate with the Jaguar Land Rover business to develop new products and services that provide unforgettable experiences for both new and existing customers.

Learn more about InMotion Ventures at www.inmotionventures.com

About Lyft

Lyft was founded in June 2012 by Logan Green and John Zimmer to reconnect people and communities through better transportation. Lyft is the fastest-growing rideshare company in the U.S and is available in more than 350 cities. Lyft is preferred by drivers and passengers for its safe and friendly experience, and its commitment to affecting positive change for the future of our cities.

To learn more about sharing a ride with Lyft visit https://www.lyft.com/