Renault-Nissan-Mitsubishi Alliance has created a corporate venture capital fund to provide up to $1 billion in investment for “new mobility” in transport, including innovative electrification, autonomous and connectivity projects and artificial intelligence.
Alliance Ventures is expected to invest around $200 million in its first year into start-ups and open innovation partnerships that will assist with the respective carmakers’ plans to rollout electric and autonomous vehicles.
The venture fund is offering start-ups the chance to combine new technologies with the global scale and research and development departments of the alliance members, which has reached more than €8.5 billion in studies and projects.
The fund targets technology and business model innovation. Its key investment areas include vehicle electrification, autonomous drive systems, car connectivity and new mobility services.
Alliance Ventures would like to hear from start-ups from anywhere in the world that have an interest in working together with the world’s leading automotive alliance to invent the mobility solutions of the future. The fund will make strategic investments at all start-up stages and will incubate both new automotive entrepreneurs and forge new partnerships.
Renault-Nissan-Mitsubishi Alliance’s chief executive Carlos Ghosn said:
"Our open innovation approach will allow us to invest and collaborate with start-up companies and technology entrepreneurs, who will benefit from the global scale of the Alliance.
"This new fund reflects the collaborative spirit and entrepreneurial mind-set at the heart of the Alliance."
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