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Jaguar Land Rover gives Lyft $25M and a fleet of cars

Lyft recently raised $600 million in a massive funding round, and now we know that $25 million of that came from Jaguar Land Rover, via its mobility services subsidiary InMotion. The car maker's investment in Lyft goes beyond just funds, however; it's providing Lyft drivers with a fleet of Jaguar and Land Rover vehicles as part of the tie-up, and it's also going to work with the ride-hailing tech company on autonomous vehicle testing. This is yet another high-profile partner for Lyft after a spate of recent new collaborators, including Waymo and, just last week, Nutonomy. Now, Jaguar Land Rover is also joining the company's Open Platform for autonomous cars: The collaboration with InMotion will see the Jaguar Land Rover-owned company "develop and test its mobility services, including autonomous vehicles" using Lyft's platform. Lyft's ability to rapidly bring on a lot of partners in the car maker space, specifically around autonomy, may have a lot to do with rival Uber's ongoing problems, which now also include mounting calls for CEO Travis Kalanick to step back, at least temporarily, from his leadership role. Lyft has also been pretty clear about seeking to partner on autonomy, rather than pursue its own tech, which is likewise different from Uber's current approach. Uber, too, has brought automakers to the table around self-driving services and making use of its ride hailing platform for mobility service offerings. Both Uber and Lyft seem interested in being the layer that connects riders and these future services, and for automakers, it means leaving a complex and challenging part of the picture to partners with experience and expertise, rather than having to spin up that part of the tech business themselves. The fleet provision in the deal is also interesting, and suggests the partnership between the two could involve more strategic cooperative service offerings ahead of the advent of commercial self-driving tech. Lyft gaining more ground among automakers beyond longtime partner GM also explains why it was reported that the ride hailing company turned down overtures regarding a potential acquisition by the Detroit-based automaker.Written by Darrell Etherington for TechCrunch.Related Video:

2024 Lexus GX and Land Rover Defender numbers crunched

The 2024 Lexus GX finally brings the luxury off-roader up-to-date. And it does so in a boxy, rugged wrapper that makes comparisons to the 2024 Land Rover Defender, another luxury off-roader of similar size and capability. So we figured, let's make that comparison. We've looked at all the specifications available for the two SUVs to see how they stack up. Engines and Transmissions The GX keeps things simple under the hood with a single powertrain. It has a twin-turbocharged 3.4-liter V6 hybrid making 340 horsepower and 479 pound-feet of torque. That horsepower number only tops the Defender's four-cylinder engine, but the GX has the torque advantage even against the Defender's mighty V8 option. The GX's V6 is paired with a 10-speed automatic and full-time four-wheel drive. Full fuel economy numbers haven't been given, but Toyota is expecting 17 mpg combined. Unfortunately, that fuel economy is worse than all the Defender powertrains except the V8. As alluded to, the Defender is available with three main engines, an inline-four, inline-six and V8. The closest competitors to the GX will be the regular 110 four-door and the longer 130 four-door. The 110 can be had with the turbo 2.0L four-cylinder making 296 horsepower and 295 pound-feet of torque; the turbo mild-hybrid 3.0L six-cylinder making 395 horsepower and 405 pound-feet; or the supercharged 5.0L V8 making 518 horsepower and 461 pound-feet. The 130 gets two versions of the six-cylinder, one making 296 horsepower and 347 pound-feet and one making 395 horsepower and 405 pound-feet. The V8 is also available but just with 493 horsepower and 461 pound-feet of torque. All of the engines get an eight-speed automatic and full-time four-wheel drive. The four-cylinder 110 gets 18 mpg combined, the six gets 20 and the V8 manages just 16. Both 130 six-cylinder powertrains return 19 mpg combined, and the V8 doesn't have numbers yet. Towing and Cargo Towing capacity is pretty straightforward. The Lexus has a maximum capacity of 8,000 pounds, and the Land Rover tops it by 200 pounds more. Some trim levels of both SUVs have lower towing capacity, depending on the configuration. As for cargo space, Lexus hasn't shared details. It is available with up to three rows of seating and room for seven passengers. The 110 has similar seating available, and the 130 ups the ante with a three-across third row. And we've found that the 130's third row is genuinely usable by adults.

Jaguar Land Rover posts profitable quarter amidst big yearly losses

Jaguar has posted its first profit in quite some time, as the financial quarter ending on March 31 brought in a net income of $151.6 million. However, that is the light in the end of the tunnel, as full year results through March showed a $4.58 billion loss (GBP3.6 billion). The losses are again attributable to declining sales in China, with a whiff of the still-lingering Brexit process. While JLR's annual U.S. sales were up 8.1 percent, and U.K. sales improved by 8.4%, overall sales came down 5.8% to 578,915 vehicles. For April, Chinese sales nearly halved as they dropped by 46 percent. Earlier this year, JLR's woes caused its owner Tata Motors to post the biggest ever quarterly loss in Indian corporate history, at nearly $4 billion. JLR's CEO Ralf Speth stated that the company is "reducing complexity" and transforming its business by cost savings and cash flow improvements, citing the fourth-quarter profits as an example of the ongoing turnaround. Speth said JLR has already managed to deliver $1.59 billion (GBP1.25 billion) of efficiencies and savings. JLR says its turnaround program, dubbed Charge, will drive it to at least $3.18 billion (GBP2.5 billion) of investment, working capital and profit improvements by March 2020, and that it currently has $4.84 billion (GBP3.8 billion) of cash. Speth continued that JLR will "go forward as a transformed company that's leaner and fitter," and that the sustained investment in new products and technologies will drive future demand. There has been earlier speculation of Tata Motors selling JLR to the PSA Group, but as Autocar reports, Tata's financial chief again refuted these rumors. JLR also announced today that its CFO of 11 years, Ken Gregor is stepping down after 22 years with the company, and that he will be succeeded by JLR's Chief Transformation Officer, Adrian Mardell.