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Renault-Nissan sets up $200 million fund to tap startups: Sources

Renault-Nissan-Mitsubishi venture will also obviate the need to thrash out the ownership split for each alliance acquisition

Reuters  |  Paris 

The Renault-Nissan-Mitsubishi alliance is pooling $200 million in a new mobility tech fund, three sources said, in the latest move by major carmakers to adapt to rapid industry change by investing in startups through their own venture capital arms. The fund, due to be unveiled by Chief Executive Carlos Ghosn at the CES tech industry show in Las Vegas next Tuesday, will be 40 per cent financed by Renault, 40 per cent by Nissan and 20 per cent by Mitsubishi. "It will allow us to move faster on acquisitions ahead of our competition," one of the alliance sources told ...

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First Published: Fri, January 05 2018. 17:57 IST