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Nissan, Renault, Mitsubishi to set up fund to invest in self-driving technology startups

  • January 9, 2018
  • , Yomiuri , p. 9
  • JMH Translation

It was learned that Nissan Motor Corp., the French carmaker Renault, and Mitsubishi Motors Corp. will jointly set up a fund to invest in startups developing self-driving technology. This is meant to absorb advanced technology from the startups in order to upgrade the group’s overall R&D capability.

 

The three companies will start with $200 million (approximately 22 billion yen), with plans to increase the fund up to $1 billion (approximately 110 billion yen) in the next five years.

 

This fund is expected to invest in startups developing semiconductors and other components essential for self-driving technology.

 

Nissan and Renault will each contribute 40% of the fund, with Mitsubishi providing 20%. Nissan Chairman Carlos Ghosn will announce this plan at the CES (Consumer Electronics Show), the world’s largest trade fair of consumer electronics products, opening in Las Vegas on Jan. 9.

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