Renault-Nissan-Mitsubishi Launches a Venture Capital Fund to Invest up to $1 Billion Over Five Years

Las Vegas (ots/PRNewswire) -

Alliance Ventures to Prioritize Next-Generation Mobility With $200
Million Year-One Funding

- New entity to act as main interface for start-ups, investors and
the venture capital ecosystem
- Fund prioritizes open innovation in new mobility, including
electrification, autonomous systems, connectivity and artificial
intelligence
- First deal to be a strategic investment in Ionic Materials, a
US company developing cobalt-free solid-state battery materials

Renault-Nissan-Mitsubishi, the world's leading automotive
alliance, today announced the launch of Alliance Ventures, a new
corporate venture capital fund that plans to invest up to $1 billion
to support open innovation over the next five years.

(Logo: http://mma.prnewswire.com/media/556610/Renault_Nissan_Mitsu
bishi_Logo.jpg )

In its first year, the fund expects to invest up to $200 million
in start-ups and open innovation partnerships with technology
entrepreneurs focused on new mobility, including vehicle
electrification, autonomous systems, connectivity and artificial
intelligence.

With further annual investments, Alliance Ventures is set to
become the largest corporate venture capital fund in the automotive
industry over the period of Alliance 2022, the strategic midterm plan
launched last year by Renault-Nissan-Mitsubishi.

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."

The new fund is unique because it offers potential partners access
to the global scale and scope of Renault-Nissan-Mitsubishi, which
sold more than 10 million vehicles in 2017 through 10 separate brands
with a presence in all major automotive markets.

Alliance Ventures will invest in start-ups to bring new
technologies and businesses to the Alliance while ensuring a fair
financial return. The fund will make strategic investments at all
start-up stages and will incubate both new automotive entrepreneurs
and forge new partnerships.

The first deal by Alliance Ventures will be a strategic investment
in Ionic Materials, a promising US-based company which 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 purpose of R&D cooperation. Ionic, based in
Massachusetts, is the developer of a pioneering solid polymer
electrolyte that enables improved performance and cost effectiveness
of high-energy density batteries for automotive and multiple other
applications.

By making such investments, Alliance Ventures will help identify
and support the development of new technologies for potential use by
Alliance members. Such initiatives are aligned with the objectives of
Alliance 2022, which aims to strengthen cooperation and to double the
annualized synergies generated by Renault, Nissan and Mitsubishi
Motors to more than EUR10 billion by the end of 2022.

The $200 million initial venture capital investment comes in
addition to more than EUR8.5 billion in total annual research and
development investments by the Alliance members.

Alliance Ventures will be led by François Dossa, who has over 20
years of experience in investment banking, plus six years of
experience within the Alliance, most recently, as chief executive
officer of Nissan Brazil. 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.

This initiative complements the Alliance strategy to seek
incremental revenues, cost savings and cost-avoidance in areas
including electrification, autonomous drive systems and vehicle
connectivity. 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.

Alliance Ventures will define innovation areas and geographic
markets for investment, working with existing research and advanced
engineering teams, and will recruit venture capital experts to
develop the platform. It is expected to be co-located in Silicon
Valley, Paris, Yokohama and Beijing, close to the technology and
research centers of the Alliance member companies, as well as to
areas with strong innovation ecosystems.

Renault (40%), Nissan (40%) and Mitsubishi Motors (20%) will
jointly fund the entity, which will have a dedicated investment
committee to make investment decisions and monitor their performance.

"This investment initiative is designed to attract the world's
most promising automotive-technology start-ups to the Alliance,"
said Carlos Ghosn.

As part of the Alliance 2022 strategic plan,
Renault-Nissan-Mitsubishi is forecasting that the combined revenues
of its member companies will reach $240 billion and that annual unit
sales will exceed 14 million by the end of 2022.

Link to François Dossa's bio:
http://www.alliance-2022.com/executives/francois-dossa/

For more information about Alliance Ventures and to submit
investment proposals, please navigate to
http://www.alliance-2022.com/ventures

- ABOUT RENAULT-NISSAN-MITSUBISHI:

Groupe Renault, Nissan Motor Company and Mitsubishi Motors
represent the world's largest automotive alliance. It is the
longest-lasting and most productive cross-cultural partnership in the
auto industry. Together, the partners sold close to 10 million
vehicles in nearly 200 countries in 2016. The member companies are
focused on collaboration and maximizing synergies to boost
competitiveness. They have strategic collaborations with other
automotive groups, including Germany's Daimler and China's Dongfeng.
This strategic alliance is the industry leader in zero-emission
vehicles and is developing the latest advanced technologies, with
plans to offer autonomous drive, connectivity features and services
on a wide range of affordable vehicles.

http://www.alliance-2022.com/ventures

http://www.media.renault.com

http://www.nissan-newsroom.com

http://www.mitsubishi-motors.com/en/newsrelease/

ots Originaltext: Renault-Nissan-Mitsubishi
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Nick Twork
Technology & Innovation Communications
Renault-Nissan-Mitsubishi
+1 615-939-9556
+33(0)6-01-05-22-63
nick.twork@alliance-rnm.com. Caroline Sasia
External Communications
Renault-Nissan-Mitsubishi
+33(0)6-11-30-36-71
caroline.sasia-lallier@alliance-rnm.com

Original-Content von: Renault-Nissan-Mitsubishi, übermittelt durch news aktuell