The automotive alliance plans to supply $200m for startups and open innovation schemes out of Alliance Ventures in the next year.
Automotive manufacturing partnership Renault-Nissan-Mitsubishi took the wraps off a corporate venturing fund yesterday and intends to invest up to $1bn in startups through the unit.
Alliance Ventures intends to provide up $200m in funding for startups and open innovation projects in its first year of operation, with the $1bn figure representative of what it could commit over a five-year period.
The alliance, initially formed when France-based Renault and Japan-headquartered Nissan exchanged equity stakes in 1999, was extended in 2016 when…
