Renault-Nissan alliance to play the venture capital game

|By:, SA News Editor

The heavyweight alliance between Renault (OTC:RNSDF, OTCPK:RNLSY), Nissan (OTCPK:NSANY) and Mitsubishi (OTCPK:MMTOF) is creating a $200M fund to help invest in mobile technology, reports Reuters.

Carlos Ghosn, who is the boss of all three automakers, is expected to unveil details on the new fund at CES in Las Vegas next week.

The Renault-Nissan-Mitsubishi venture is just the latest example of automakers looking for an edge in finding startups with huge potential in the areas of mobility, ride-sharing, autonomous driving and electrification.