Renault-Nissan-Mitsubishi Pledges $1 Billion To Attract Fresh Thinking

12 January, 2018, 19:47 | Author: Sammy Rose
  • Carlos Ghosn chairman of Alliance Ventures discusses the future of autonomous cars

The firm, which is set to become the largest corporate venture capital fund in the automotive industry, expects to plough up to $200m into startups and innovation partnerships in its first year. The new corporate venture fund is part of a push by Renault-Nissan Chief Executive Carlos Ghosn.

The venture fund is offering start-ups the chance to combine new technologies with the global scale and research and development departments of the alliance members, which has reached more than €8.5bn in studies and projects. "This new fund reflects the collaborative spirit and entrepreneurial mind-set at the heart of the Alliance".

The fund offers access to potential partners, global scale and scope of Renault-Nissan-Mitsubishi, which has sold more than 10 million vehicles previous year through 10 separate brands, across the world.

The first deal by Alliance Ventures will be a strategic investment in Ionic Materials, a Massachusetts-based company that is developing solid-state cobalt-free battery materials. The equity acquisition coincides with the execution of a joint-development agreement with the Alliance for the objective of R&D cooperation.

Carlos Ghosn, Chairman, and CEO of the R-N-M Alliance enthusiastically shared his vision for the venture at CES stating, "We want to make sure we are being challenged", says Ghosn, "the alliance is created to be a one-stop shop to talk about ideas". The Alliance Ventures team will also draw on the expertise and business opportunities identified by a cross-functional team of experts from Renault, Nissan, and Mitsubishi. By the end of its strategic plan, the Alliance will launch 12 pure electric models, utilizing common EV platforms and components, while also bringing to market 40 vehicles with autonomous drive technology and developing robo-vehicle ride-hailing services.

PUBG Omitted BP Compensation Handed Out to All Players
It's definitely not ideal , by any means, but it was a big boon for Xbox owners looking for an exclusive console game release. KitGuru Says: PUBG sold tremendously well on PC and it seems that the Xbox One version is also off to a great start.


Macron in Rome for Italy-France treaty (2)
China and France have promoted themselves as leaders on global warming after Trump pulled out of the Paris climate agreement. Chinese online retailer JD.com has unveiled plans to sell €2bn of French goods to Chinese consumers in the next two years.


Microsoft Fall Creators Update available to all Windows 10 users
The company claims the Fall Creators Update is the fastest version of Windows 10 ever to reach 100 million devices. According to Microsoft the rollout of Windows 10 Fall Creators Update is now fully available worldwide.


Technology start-ups are an increasingly appealing investment for global corporates and venture capitalist in the Middle East and globally.

Alliance Ventures will be led by Francois Dossa, who accumulated more than 20 years' experience in investment banking at firms such as Societe Generale before becoming the chief executive of Nissan Brazil.

Alliance Ventures is part of the group's 2022 strategy to improve cooperation and double annualised cost synergies between the three companies to more than €10bn by the end of 2022.

Called Alliance Ventures, the fund has already made its first investment, taking an equity stake for an undisclosed amount in Ionic Materials - a Bill Joy-backed battery technology developer.

It will be 40 percent financed by Renault SA, 40% by Nissan Motor Co Ltd and 20% by Mitsubishi Motors Corp.

Recommended:

  • Here's who's going to be lead in Akshay Kumar's Kesari

    Here's who's going to be lead in Akshay Kumar's Kesari

    Earlier, the first look of the film was unveiled, in which the "Rustom" star is seen exuding stoicism in a turbaned avatar. He stated that he goofed up with the picture and remarked that Twitter users are quite quick in mocking him about it.
    Dakar 2018: Bikes champion Sunderland out of rally while in Peru

    Dakar 2018: Bikes champion Sunderland out of rally while in Peru

    Fellow Australian Rodney Faggotter moved into the top 20 overall on a day his factory Yamaha teammates celebrated. The Qatari driver stopped his Hilux twice on the stage, eventually losing a total of 54 minutes to Loeb.
    China: Body found, tanker still on fire after sea collision

    China: Body found, tanker still on fire after sea collision

    Since then, the Panama-registered tanker Sanchi has been ablaze and drifting in the waters between Shanghai and southern Japan. One portion appeared to show the fire had been extinguished, although this could not be independently confirmed.
  • 'It would be suicidal to attack the United States of America first': North Korean diplomats

    President Donald Trump speaks during a prison reform roundtable in the Roosevelt Room of the Washington, Thursday, Jan. 11, 2018. "I believe Mr Kim Jong-Un has won this round", Putin told Russian journalists on Thursday.
    SAfrica's graft-tainted Zuma announces anti-corruption probe

    SAfrica's graft-tainted Zuma announces anti-corruption probe

    Zuma was acquitted of rape but is often mocked in newspaper cartoons depicting him with a shower nozzle sprouting from his bald head.
    US urges Iran to release agitationists

    US urges Iran to release agitationists

    He added there was no accurate information about the number of people arrested by the regime in other Iranian cities. The demonstrations morphed quickly into protests against the clerical establishment and the country's leaders.
  • Pentwater Capital Management LP Cuts Position in Kinder Morgan Inc (NYSE:KMI)

    Pentwater Capital Management LP Cuts Position in Kinder Morgan Inc (NYSE:KMI)

    It turned negative, as 70 investors sold KMI shares while 353 reduced holdings. 19 funds opened positions while 50 raised stakes. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15.
    Hina Khan speaks bad about Shilpa Shinde and disappoints yet again

    Hina Khan speaks bad about Shilpa Shinde and disappoints yet again

    The Bigg Boss season 11 is coming to an end later this week as the four remaining contestants fight it out for the crowning glory. He has evolved as a person throughout his journey in the show and is probably the only nonjudgmental person in Bigg Boss House.
    'The Last Key' Defeats 'The Last Jedi' at Weekend Box Office

    'The Last Key' Defeats 'The Last Jedi' at Weekend Box Office

    Down 55% from last weekend , the eighth chapter in the ongoing Skywalker saga has banked $572.5 million so far. But it's not topping the best opening of the franchise , 2013's " Insidious: Chapter 2 " ($40.2 million).
  • Leonard pours in 25 to carry Spurs over Knicks

    Leonard pours in 25 to carry Spurs over Knicks

    Manu Ginobili's legend grew a bit longer with a freaky 3-point shot during the Spurs-Knicks game on Tuesday night in NY . Gregg Popovich didn't even know what to say. "Then everybody started grabbing me and saying the ball went in".
    Turkish banker convicted for helping Iran evade USA  sanctions

    Turkish banker convicted for helping Iran evade USA sanctions

    U.S. prosecutors have charged nine people in the case, but only Atilla and Zarrab are known to be in United States custody. Federal prosecutors in NY , who regularly bring sanctions-busting charges, have said such suggestions are ludicrous.
    Bulls plan to deal Nikola Mirotic

    Bulls plan to deal Nikola Mirotic

    Mirotic spent most of the early portion of the season recovering from injuries suffered in a fight against teammate Bobby Portis . Mirotic is now on a one-year, $12.5 million deal that has a club option worth $12.5 million for the 2018-19 season.


Popular

Are Justin Bieber and Selena Gomez back together?
Days before reuniting with Selena , 25, Justin , 23, had spent some quality time with his family in the Mexican city of Cancun. This was their first New Year's Eve that they spent together since reuniting and it should have been the ideal trip .

Baidu Utilizing BlackBerry Software In Self-Driving Car Platform
All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Baidu aims to make a complex world simpler through technology.

Stephen Curry makes explosive return as he hits 10 three-pointers
The Warriors (29-8) moved to 2 1/2 games ahead of the Rockets in the West with the win. Kawhi Leonard led the Spurs (25-12) with 18 points but 4-of-11 from the field.

Mohamed Salah reacts to Philippe Coutinho's move to Barcelona
In the past month, Salah scored 5 goals and made 3 assists in 7 games for The Reds. Jordan Henderson is a doubt for Man City with a thigh problem.

Chaos at JFK airport with flood, storm backlog
Other photos showed a sea of unclaimed luggage and packed crowds of frustrated travelers unable to reach their destinations. Thousands of flights were cancelled because of the winter storm, leaving many travellers stranded at the airport for days.

Mekong leaders fail to raise environmental concerns at summit in Phnom Penh
Communities in the lower Mekong countries have reported depleted fish stocks in recent years and are blaming the dams. This cooperation mechanism was created in November 2014 at Li's proposal during the 17th China-ASEAN Summit.

Salman Khan Gets Death Threats, Given Additional Security
On a related note, along with Salman, the movie also features Anil Kapoor, Daisy Shah and Jacqueline Fernandez. Lawrence has been charged with over 20 attempts to murder, carjacking, extortion and snatching.

Online Store Leaks Red Dead Redemption 2 Release Date & Delay
Coolshop is a popular video game chain and they have Red Dead Redemption 2 listed on their site with a June 8, 2018, release date. Once again, the time between now and the supposed release window is short, and yet there are no signs of a marketing push.

Mulgrew responds to Gov. Cuomo's State of the State address
The Democrat will outline his 2018 agenda in the speech Wednesday, the first day of the legislative session. The plants are created to support traditional power plants during periods of high demand, or "peaks".

AG Sessions: No 'Buds' in California
Be proactive - Use the "Flag as Inappropriate" link at the upper right corner of each comment to let us know of abusive posts . In Washington state alone, the marijuana industry paid Dollars $280 million in taxes in the last fiscal year.