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.