World Economy
0

Jaguar Land Rover Buys Stake in Cloud Computing

Jaguar Land Rover Buys Stake in Cloud ComputingJaguar Land Rover Buys Stake in Cloud Computing

Jaguar Land Rover is buying a minority stake in connected car technology firm CloudCar, as automakers seek out new partnerships and investments to build high-tech models, Auto News Europe reports.

CloudCar, which has developed technology including to improve voice activation, has been a supplier to JLR for several years, with plans to use the next generation of its technology in Jaguar’s first fully electric model based on the I-Pace concept.

On January 6, the carmaker said it would invest $15 million (12 million British pounds) and acquire an unspecified stake in the firm.

“This investment is integral to Jaguar Land Rover’s vehicle technology program,” said Executive Director of Corporate Strategy Hanno Kirner, adding he wanted to work with other carmakers.

“The eventual need to integrate into the car hundreds of driver-focused global cloud services and content means this platform is an excellent example where cooperation can improve outcomes for customers, as well as reducing costs.”

Automakers are developing connected cars, which use the internet to improve customers’ driving experiences and allow vehicles to communicate with each other, in a race with tech giants such as Google.

In October, JLR parent company Tata Motors and Ford tested connected cars using technology designed to speed up journeys and cut accidents, the first such trials in Britain.

Britain is leading the way in developing cars for the driverless future. Along with the US state of California, it is pushing lawmakers to change archaic regulations in favor of the new tech.

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com