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Tata to invest in taxi app Lyft

June 22
05:28 2017

Mumbai: Jaguar Land Rover (JLR), owned by the Tata Group, has been in the news for investing $25 million in an American taxi app, Lyft, after the known company Uber joined it. Tata has already made an investment through the Tata Opportunity Fund in Uber Technologies as well as its Indian competitor, Ola.

Jaguar Land Rover was attained by Tata in the year of 2008 for $2.3 billion, carrying out this latest investment through its arm InMotion Ventures. According to the terms of the sealed deal, JLR will be providing vehicles to Lyft, while in India, Uber drivers can buy Tata Motor vehicles, such as Indica and Indigo at discounted rates as well as get loans from Tata Motors Finance.

Although Lyft is still an unknown brand in the Indian subcontinent, Uber has the second largest market in here after the US. –News Source

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