Alliance Ventures launches $1bn investment drive into new mobility solutions

Alliance Ventures has been launched by the Franco-Japanese Renault-Nissan-Mitsubishi alliance, a strategic partnership established in 1999. In its first year, the fund expects to invest up to $200m in start-ups and open innovation partnerships with technology entrepreneurs focused on new mobility, including vehicle electrification, autonomous systems, connectivity and artificial intelligence. The initial $200m investment is in addition to R&D investments by the Alliance members, which are in excess of €8.5bn.

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.”

Alliance Ventures’ first investment is being made into Ionic Materials, a US-based company developing solid-state cobalt-free battery materials. Based in Massachusetts, Ionic has developed a solid polymer electrolyte claimed to enable improved performance and cost effectiveness of high-energy density batteries for the automotive sector and other industries.