Lyft is now valued at $7.5 billion following an investment of $25 million by Jaguar Land Rover—an interesting transaction given that Tata Group, which owns Jaguar, once invested $100 million in Uber.
Jaguar says it is working with Lyft on autonomous driving technology, reports Bloomberg. The automaker plans to offer self-driving vehicles to the ride-hailing company’s fleet, the latest in a string of similar partnerships Lyft has established recently, including Google’s Waymo, General Motors, and nuTonomy.
The plan is not a short term one; Lyft says it’s a ten-year blueprint. It’s also a necessary one, given that primary rival Uber—in addition to partnerships of its own—has invested hundreds of millions of dollars in autonomous driving technology.
Uber is valued north of $60 billion.