10 Jan '18, 8pm

#vc Renault-Nissan-Mitsubishi to Invest $1 Billion in New E-Mobility Venture Capital Fund

#vc Renault-Nissan-Mitsubishi to Invest $1 Billion in New E-Mobility Venture Capital Fund

The Renault-Nissan-Mitsubishi alliance has signaled one of its strongest nods to e-mobility yet, pledging to spend up to $1 billion over the next five years on mobility technologies. The new venture capital fund, called Alliance Ventures, will intend to support technology in the areas of electric vehicles, self-driving, connectivity, AI, and mobility. Its first year will call for up to $200 million worth of investments, acting as an intermediary between startups and the market, with the group’s combined sales of more than 10 million vehicles across 10 brands in 2017. CEO Carlos Ghosn. Of the funds, Renault and Nissan are chipping in 40 percent apiece towards Alliance Ventures with Mitsubishi delivering the remaining 20 percent. “Our open innovation approach will allow us to invest and collaborate with start-up companies and technology entrepreneurs, who will benefit from t...

Full article: http://www.hybridcars.com/renault-nissan-mitsubishi-inves...

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