Lyft discloses $25 million investment from Jaguar
- Kia Kokalitcheva, author of Axios Pro Rata
Courtesy of Lyft
Among its growing list of automotive partners, Lyft has added Jaguar Land Rover, the companies revealed on Monday.
The deal: Jaguar's InMotion Ventures contributed $25 million (₤19 million) to Lyft's most recent funding round, which closed in April and included KKR, AllianceBernstein, PSP Investments, and Baillie Gifford. Additionally, the two will work on and test various transportation services, including self-driving cars. Jaguar will also provide cars for Lyft drivers, although the specifics haven't been worked out yet. Most likely, drivers will be able to rent out the cars under certain conditions, a Lyft spokesperson told Axios.
Lyft's other partners include General Motors (which also invested $500 million into the company in 2016), Alphabet's
Waymo
, and
nuTonomy
.