Tweet
Renault - Nissan -Mitsubishi launches a venture capital fund

Renault - Nissan -Mitsubishi launches a venture capital fund

09.01.2018: ....to invest up to $1 billion over five years ALLIANCE VENTURES TO PRIORITIZE NEXT-GENERATION MOBILITY WITH $200 MILLION YEAR-ONE FUNDING

....to invest up to $1 billion over five years



ALLIANCE VENTURES TO PRIORITIZE NEXT-GENERATION MOBILITY WITH $200 MILLION YEAR-ONE FUNDING

 
-   New entity to act as main interface for start-ups, investors and the venture capital ecosystem


-   Fund prioritizes open innovation in new mobility, including electrification, autonomous systems, connectivity and artificial intelligence


-   First deal to be a strategic investment in Ionic Materials, a US company developing cobalt-free solid-state battery materials

 


Renault-Nissan-Mitsubishi, the world's leading automotive alliance, today announced the launch of Alliance Ventures, a new corporate venture capital fund that plans to invest up to $1 billion to support open innovation over the next five years.
 


In its first year, the fund expects to invest up to $200 million in start-ups and open innovation partnerships with technology entrepreneurs focused on new mobility, including vehicle electrification, autonomous systems, connectivity and artificial intelligence.
 


With further annual investments, Alliance Ventures is set to become the largest corporate venture capital fund in the automotive industry over the period of Alliance 2022, the strategic midterm plan launched last year by Renault-Nissan-Mitsubishi.
 


Carlos Ghosn, chairman and chief executive officer of Renault-Nissan-Mitsubishi, 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."
 


The new fund is unique because it offers potential partners access to the global scale and scope of Renault-Nissan-Mitsubishi, which sold more than 10 million vehicles in 2017 through 10 separate brands with a presence in all major automotive markets.
 


Alliance Ventures will invest in start-ups to bring new technologies and businesses to the Alliance while ensuring a fair financial return. The fund will make strategic investments at all start-up stages and will incubate both new automotive entrepreneurs and forge new partnerships.
 


The first deal by Alliance Ventures will be a strategic investment in Ionic Materials, a promising US-based company which is developing solid-state cobalt-free battery materials. The equity acquisition coincides with the execution of a joint-development agreement with the Alliance for the purpose of R&D cooperation.



 Ionic, based in Massachusetts, is the developer of a pioneering solid polymer electrolyte that enables improved performance and cost effectiveness of high-energy density batteries for automotive and multiple other applications.
 


By making such investments, Alliance Ventures will help identify and support the development of new technologies for potential use by Alliance members. Such initiatives are aligned with the objectives of Alliance 2022, which aims to strengthen cooperation and to double the annualized synergies generated by Renault, Nissan and Mitsubishi Motors to more than €10 billion by the end of 2022.
 


The $200 million initial venture capital investment comes in addition to more than €8.5 billion in total annual research and development investments by the Alliance members.
 


Alliance Ventures will be led by François Dossa, who has over 20 years of experience in investment banking, plus six years of experience within the Alliance, most recently, as chief executive officer of Nissan Brazil. The Alliance Ventures team will also draw on the expertise and business opportunities identified by a Cross-Functional Team of experts from Renault, Nissan, and Mitsubishi.
 


This initiative complements the Alliance strategy to seek incremental revenues, cost savings and cost-avoidance in areas including electrification, autonomous drive systems and vehicle connectivity. The Alliance will launch 12 pure electric models by the end of the plan, utilizing common EV platforms and components, while also bringing to market 40 vehicles with autonomous drive technology and developing robo-vehicle ride-hailing services.
 


Alliance Ventures will define innovation areas and geographic markets for investment, working with existing research and advanced engineering teams, and will recruit venture capital experts to develop the platform. It is expected to be co-located in Silicon Valley, Paris, Yokohama and Beijing, close to the technology and research centers of the Alliance member companies, as well as to areas with strong innovation ecosystems.
 


Renault (40%), Nissan (40%) and Mitsubishi Motors (20%) will jointly fund the entity, which will have a dedicated investment committee to make investment decisions and monitor their performance.
 


"This investment initiative is designed to attract the world's most promising automotive-technology start-ups to the Alliance," said Carlos Ghosn.
 


As part of the Alliance 2022 strategic plan, Renault-Nissan-Mitsubishi is forecasting that the combined revenues of its member companies will reach $240 billion and that annual unit sales will exceed 14 million by the end of 2022.
 



- Mitsubishi -

Permanent-URL: http://www.automobilsport.com/renault-nissan-mitsubishi-venture-capital-fund---171390.html

09.01.2018 / MaP

More News

Volkswagen and NVIDIA to Infuse AI into Future Vehicle Lineup
09.01.2018
Volkswagen I.D. BUZZ1 to Use NVIDIA Technology for AI Co-Pilot CapabilitiesVolkswagen and NVIDIA today shared their vision for how AI and deep learning will shape the development of a new generation of intelligent Volkswagen vehicles. more >>
Connected Car braucht mehr Drive
09.01.2018
– Autohersteller müssen ihre Hausaufgaben machen- Trotz massiver Investitionen der Autohersteller nutzt jeder dritte Besitzer eines Connected Car die spezifischen Connected Features nicht aktiv more >>
World Flying Electric Vehicle Summit
08.01.2018
Preferred rates and presentation proposal call closing end of the week ! Sunday 14th January is the last opportunity to benefit of the early bird registration fee to participate in the 1st Flying Electric Vehicle Summit that will take place more >>
Mercedes-AMG presents RACE Scout
04.01.2018
....as a new app-based platform for the global motorsport communityThe expansion of Mercedes-AMG’s involvement in motorsport is also progressing at a digital level. During the first highlight of the season, the Dubai 24-hour race, the performance brand from Affalterbach is launching RACE Scout, an innovative app. The online platform, conceptualised more >>
SEAT and Saba present Droppit, the app that delivers your grocery shopping directly to your parked car
03.01.2018
First joint project since the signing of the agreement•    With this new app, users can place their shopping order at a virtual supermarket and have it delivered to their parked car in a Saba carpark•  &n more >>
World Flying Electric Vehicle Summit
19.12.2017
World Flying Electric Vehicle Summit GENEVAFebruary 7th, 2018Organising and Scientific Program Committee unveiled !      Each proposal made for presentation more >>
Williams Advanced Engineering and Airbus Collaborate on Technology Innovation
18.12.2017
Williams Advanced Engineering and Airbus have signed a Memorandum of Understanding to work together to bring Formula One-inspired technology and innovation to aerospace and share in the wealth of experience at Airbus. more >>
Mercedes-Benz opens new Advanced Design Centre in France
15.12.2017
Mercedes-Benz adds to its global network of Advanced Design Centres. In 2018, the brand with the star will open a new Centre in France's "Silicon Valley" on the Côte d'Azur. With more >>
Mercedes-Benz on automated test drive in South Africa
15.12.2017
On the road to autonomous driving:   Fourth leg of the Intelligent World Drive Road traffic in South Africa presents some very special challenges: different road surfaces, wildlife on more >>
MIA's International Energy Efficient Motorsport Conference
14.12.2017
Innovation and Entertainment to be key topics at MIA's 12th International Energy Efficient Motorsport ConferenceThe key areas of race-bred technology development and audience-immersive entertainmen more >>
Swedish families help Volvo Cars develop autonomous drive cars
13.12.2017
Volvo Cars will from today start developing its autonomous drive cars with help from Swedish families who will test its cars on the public roads of Gothenburg and feed back their impressions to Volvo Cars engineers.The first two families, the Ha more >>
CES Las Vegas 2018: Rinspeed Snap - the sum of its parts is greater than the whole
06.12.2017
Snap - Let it click!Self-driving cars, stuffed full of short-lived IT components, will help solve the transport problems in urban areas in the foreseeable future - and not just there. To this end, Swiss powerhouse of ideas Rinspeed has desig more >>
BMW i cars via the BMW i Visualiser App for iOS.
05.12.2017
Millions of consumers worldwide can now interactively explore BMW i cars via the BMW i Visualiser App for iOS. - Real-size 3D products can be visualised and explored on your iPhone or iPad -  New functionality directly links to online more >>
Audi at NIPS: new approaches to AI on the way to autonomous driving
05.12.2017
Conference for artificial intelligence in California        Audi innovation project: Neural network generates highly precise 3D models of the environment        Networked worldwide in the field of AI technology  more >>
SEAT to build the tallest automated warehouse in Spain
05.12.2017
Pioneering company in Industry 4.0•    The new 43.7 metre tall building will be able to process 119,000 boxes of parts and components•    Work on the new facility will conclude in the last quar more >>
Volkswagen starts countdown to start of production of first I.D. model
02.12.2017
    100 weeks before start of production: "MEB Supplier Summit" in Wolfsburg establishes new quality of cooperation and partnership with suppliers    Brand CEO Diess: "Preparations for entry to the new era of affordable e-mobility are well underway." more >>
Renault works with SCOOP
01.12.2017
...to prepare infrastructure for tomorrow’s autonomous, connected cars •    SCOOP is an EU project that facilitates trials of future vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2X) con more >>
The SEAT Prototype Development Centre celebrates 10 years boosting innovation
01.12.2017
•    Located in SEAT’s facilities in Martorell, it is a benchmark in the sector for combining the stages of vehicle development and industrialisation•    With close to 300 qualified professionals and more >>
Porsche begins a partnership with the CODE University
30.11.2017
Digital pioneers lay the foundations for the sports cars of the futureNew partnership: Thomas Bachem (Chancellor, CODE University), Andreas Haffner (Member of the Executive Board, Human Resources and Social Affairs, Porsche AG), Lutz Meschke (Lutz Mesch more >>
SEAT’s Fast Lane, shortest time from order to delivery ‘Road to easy’
28.11.2017
•    SEAT becomes the first company to ensure the delivery of a car in two to three weeks•    This groundbreaking service begins in Germany and Spain following a pilot trial in Austria• &n more >>
ESCP Europe and Groupe Renault Co-founders of new chair for Intercultural Management
21.11.2017
Groupe Renault and the ESCP Europe Business School announced the inauguration of a Chair for Intercultural Management. The new Renault Chair for Intercultural Management at ESCP Europe Bu more >>
Artificial Intelligence and the future for learning
20.11.2017
According to a recent report by PwC, within 15 years, artificial intelligence will take over 38% of U.S. jobs. This trend is expected to continue. What will employment look like? Which jobs will disappear more >>
Team AFILSOP of the Ilmenau University wins Audi Autonomous Driving Cup 2017
17.11.2017
Young talent solves complex assignments with self-programmed software        Scaled-down Audi Q2 drives autonomously and with new sensors through a course        Head of Development Mertens: “Impressed by the creative solutions” more >>
SEAT Metropolis:Lab Barcelona Upcoming projects
15.11.2017
Official inauguration of SEAT's digital lab•    SEAT’s digital lab was officially opened yesterday with the presence of prominent figures in the technology sector• more >>
Lamborghini Terzo Millennio - A Future Vision
14.11.2017
...and Dream Based on the Collaboration with MITAutomobili Lamborghini in collaboration with two laboratories of the Massachusetts Institute of Technology marks the first steps of a possible future Lamborghini electric super sports car. more >>
Hydrogen could contribute to 20% of CO2 emissions reduction targets by 2050
13.11.2017
The Hydrogen Council reveals first-of-a kind study showing hydrogen’s contribution as a key pillar of the energy transitionAs global leaders gathered at COP 23 in Bonn, 18 key leaders in their industry verticals, united in the Hydrogen Council coalition, more >>
SEAT Inventors Awards to Patents and Innovations Developed by Employees
13.11.2017
•    For the past four years, the awards have gone to employees who have completed the most innovative projects in the company as well as to the inventors of SEAT patents•    The brand added 38 registered patents to this year's edition and now has a total of 306 active patents•    This editio more >>
BMW and Microsoft develop unique mixed reality experience for new BMW X2 campaign
10.11.2017
“Be the one who dares”: the BMW X2 Holo ExperienceBMW and Microsoft are transforming part of the “Be the one who dares” campaign for the new BMW X2 into a fun high-tech experience. In a unique mixed reality application, the two part more >>
Audi steps up research into synthetic fuels
09.11.2017
Audi e-diesel from renewable energy, water and CO2        Planned participation in pilot facility in Switzerland  Audi is systematically building on its e-fuels strategy. Together with the partners Ine more >>
Innovative anti-theft protection now also available for Porsche classic vehicles
07.11.2017
Monitoring via smartphone appGPS-assisted monitoring is on its way: Porsche is currently developing a comprehensive anti-theft protection system for all classic models, allowing owners of Porsche classics to take advantage of the anti-theft protect more >>
Audi Autonomous Driving Cup 2017
03.11.2017
-  independently and intelligently around the course    Eight universities enter self-driving miniature cars for race        Audi Q2 on a scale of 1:8 with new sensor system      & more >>
Behind the Wheel: CNH Industrial teams up with the Royal College of Art
18.10.2017
....for innovative and sustainable design competition Take a look at the winning industrial design ideas from the bright young talents of tomorrow in the latest Behind Wheel webisode from CNH Industrial. Watch online: cnhindustrial.com/beh more >>
Mercedes-Benz on automated worldwide test drive for 5 months
10.10.2017
On the road to autonomous driving: Intelligent World Drive - five continents in five monthsWith the "Intelligent World Drive", Mercedes-Benz is testing automated driving functions on all five continents using a vehicle based on the S-Class. more >>
Groupe Renault is acquiring a 25% stake in Jedlix
10.10.2017
.... a Dutch start-up specialized in smart charging.    Renault is launching a new smartphone app, Z.E. Smart Charge, in partnership with Jedlix. Groupe Renault, the electric-vehicle leader in Europe, annou more >>
Renault: Drive the Future 2017-2022
06.10.2017
New strategic plan builds on record results, targets sustainable, profitable growthGroupe Renault Strategic Plan targets by the end of the plan:•    Revenues over €70 billion1• & more >>
Ground-breaking EV Battery Technology Wins Top Prize in BMW Startup Challenge.
28.09.2017
Dutch Startup LeydenJar promises 50 percent more battery capacity.Pioneering battery technology, devised by a Dutch startup company, which promises a substantial increase in the range of electric vehicles and significant cost reductions, w more >>
Porsche Digital launches partnership with start-up home-iX
28.09.2017
Investment in smart living and the “Internet of Things”Porsche is taking another step forwards with its digital transformation: Through its subsidiary Porsche Digital, the sports car manufacturer is now involved with Stuttgart-based more >>
Daimler Trucks tests truck platooning on public highways in the US
26.09.2017
    Daimler Trucks North America (DTNA) drives digitally connected trucks on selected highways in Oregon and Nevada    Long roads and highways in the USA are predominant for truck platoons    Connectivity and automated driving improve safety in truck platoons, support drivers and enhance efficiency more >>
Volvo Cars electrification strategy recognised by United Nations
22.09.2017
Volvo Cars has been recognised by the United Nations for its ground-breaking electrification strategy in the latest report from the UN's Global Compact, the world's largest corporate sustainability initiative.The report, launched earlier this week at the Global C more >>

2001-2020 automobilsport.com full copyright