Stellantis launches challenge capital fund with preliminary 300 million euro funding
MILAN (Reuters) – Carmaker Stellantis mentioned on Wednesday it introduced its first challenge capital fund aimed toward making an investment in startup corporations growing applied sciences that may be deployed inside the automobile and mobility industries.
The fund, referred to as Stellantis Ventures, will to begin with make investments 300 million euros ($330 million) each in early- and later-stage startups, the corporate mentioned in a observation.
The verdict is a part of Stellantis’ wider technique spelled out previous this month within the corporate’s first marketing strategy.
Leader Generation Officer Ned Curic mentioned the advent of the fund used to be a part of the gang’s effort to grow to be right into a “mobility tech corporate.”
“Stellantis Ventures will boost up our transformation as we undertake new applied sciences evolved through cutting edge startups, whilst fostering their enlargement attainable,” he mentioned.
The automobile maker mentioned its challenge capital fund would act as a “strategic investor” and assist startups combine new applied sciences inside the team in lowered timeframes.
Investments will goal spaces comparable to sustainability, competitiveness and in-vehicle generation in addition to automobile advertising, gross sales and finance.
($1 = 0.9096 euros)
(This tale refiles to mend typo in fourth paragraph)
(Reporting through Giulio Piovaccari; Modifying through Mark Porter)
