- Confirming earlier reports, the Renault-Nissan-Mitsubishi Alliance (OTCPK:RNLSY, OTCPK:NSANY, OTC:MMTOY) is creating one of the largest automotive venture-capital funds.
- It will commit $200M annually over five years - for a total of $1B - to a variety of startup technologies, including battery and self-driving efforts.
- The spending comes on top of the €8.5B annually the alliance invests in research and development.
- Previously: Renault-Nissan alliance to play the venture capital game (Jan. 05 2018)