Renault-Nissan-Mitsubishi alliance launches venture capital fund to support innovation
Plans to invest USD1 billion over five years to help identify and support development of new auto-motive technologies
The Renault-Nissan-Mitsubishi alliance has set up a venture capital (VC) fund, called Alliance Ventures, to invest up to USD1 billion over the next five years in start-ups and open innovation partnerships working in new mobility fields such as vehicle electrification, autonomous driving, connectivity and artificial intelligence, the alliance said in a press release on 9 January. Alliance Ventures will be 40% financed by Renault, 40% by Nissan, and 20% by Mitsubishi Motors, which jointed the alliance last year.
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