Renault-Nissan-Mitsubishi Launches a Venture Capital Fund
Renault-Nissan-Mitsubishi, the world’s top ranked automobile industry union, made a statement about establishment of a new venture capital fund. The main objective of this undertaking is to devote approximately $1 bln to advancement of ambitious and ground-breaking start-ups related to the automobile business within the next 5 years.
This fund will place emphasis on the following directions: advancement of running characteristics, cars electrification, self-sufficient systems, cars with network capabilities and AI (artificial intelligence). It is planned to form an investment committee for making judgments about investments and for monitoring of their implementation. The 1-st bargain will be an agreement on strategic support of an American enterprise Ionic Materials, producing non-cobalt materials for solid state accumulator units. According to estimates, the expected revenue from this initiative for partner companies will come up to 240 bln dollars, and annual car sales will rise beyond fourteen million units towards the end of 2022.
