Alliance Ventures, the strategic venture capital fund that invests in technology startups for Renault Group, Nissan Motor Company and Mitsubishi Motors, announced a partnership with Plug and Play China to "cooperate on open innovation" in the world's second largest economy.
"China is leading innovation in the automotive industry," said Francois Dossa, alliance global vice president, ventures and open innovation and also chairman of Alliance Ventures.
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"By harnessing the expertise of Plug and Play China, we can gain access to start-ups and technologies that will transform the mobility experience."
Alliance Ventures and Plug and Play agreed to a three year partnership in China which, they said, would benefit both groups. This latest agreement follows successful existing partnerships with Plug and Play both in Japan and in Silicon Valley.
With access to Plug and Play China's peerless start-up network, Alliance Ventures' ability to identify and work with promising startups, carry out pilot projects, and acquire or invest in new technology opportunities "which will be turbocharged".
The three automakers would benefit through new business opportunities in China and "access to cutting edge, next generation technologies".
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By GlobalData
