Jaguar Land Rover invests £20m in Lyft

Britain's biggest carmaker Jaguar Land Rover has invested £19.6 million ($25 million) in taxi-hailing company Lyft, one of Uber's biggest rivals. Jaguar Land Rover, which will supply a fleet of vehicles as part of the deal, said the money would help develop and test technology for self-driving cars. Uber and Lyft, both based in San Francisco, are racing to develop self-driving taxi technology. Jaguar Land Rover has invested £19.6 million ($25 million) in taxi-hailing company Lyft, one of Uber's biggest rivals. Ninety-five per cent of miles travelled will happen in autonomous electric vehicles which are owned by fleets rather than individuals in little more than a decade, a report by California research group RethinkX found last month. The report found Autonomous Electric Vehicles (A-EVs) will be owned by companies providing Transport as a Service (TaaS) by 2030 which will make up 60 per cent of vehicles on US roads.