The Alliance Renault-Nissan strong commitment to future mobility

Renault-Nissan-Mitsubishi creates a venture capital fund to invest in the development of electric and autonomous cars, among other things.

One of the most powerful alliances in the automotive industry, Renault-Nissan-Mitsubishi, has announced the launch of Alliance Ventures, a venture capital fund that will invest up to one billion dollars over the next five years to develop future mobility technologies, or what they call open innovation.

In the first year, the fund plans to invest up to 200 million dollars in start-ups and technology companies in the area of open innovation and new mobility: electric vehicles, autonomous driving systems, connected services and artificial intelligence.

“Our open innovation approach will allow us to invest in and collaborate with start-ups and technology entrepreneurs who can benefit from the economies of scale and the global reach of the Alliance. This new fund reflects the entrepreneurial and collaborative spirit at the heart of the Alliance,” said Carlos Ghosn, Chairman and CEO of Renault-Nissan-Mitsubishi, after announcing the creation of Alliance Ventures.

The first transaction carried out by Alliance Ventures will be a strategic investment in Ionic Materials, a promising American company that develops cobalt-free battery materials. The acquisition coincides with the implementation of a previous cooperation agreement with the Alliance in the area of research and development. Based in Massachusetts, Ionic develops an innovative solid electrolyte polymer capable of improving the performance and cost-effectiveness of high energy density batteries for multiple applications, including the automobile.

This initiative reinforces the Alliance strategy aimed at reducing and eliminating the costs related to the production of electric vehicles, autonomous driving systems and connectivity devices. In the coming years, Renault-Nissan-Mitsubishi will launch 12 new 100% electric models, with common platforms and components, and will develop 40 new vehicles equipped with autonomous driving technologies as well as on-demand mobility services through robotic vehicles.