Renault-Nissan-Mitsubishi Alliance to ‘leverage’ start-up expertise with VC arm

The Renault-Nissan-Mitsubishi Alliance has kicked off 2018 by launching a dedicated venture capital (VC) fund, which over the next five years will invest US$1bn in start-ups that specialise in technologies relevant to ‘next generation’ mobility. Renault and Nissan will split 80% of the funding, with Mitsubishi Motors contributing the remaining 20%. The first year of activity should see US$200m being invested in various early stage companies and start-ups.