Alliance Ventures Focuses on Disruptive Technology Through New Partnership With Plug and Play China

Three-year agreement will expand Alliance Ventures' reach in China and provide Plug and Play start-ups with access to the world's largest automotive alliance

Partnership will add to Alliance Ventures' efforts to remain at the cutting edge of next-generation systems for the automotive industry

Alliance Ventures will invest up to $1 billion by 2022 to support open innovation

PARIS and TOKYO,May 9,2019 -- Alliance Ventures,the strategic venture capital fund that invests in technology start-ups for Groupe Renault,Nissan MotorCompanyand Mitsubishi Motors,todayannouncedapartnership with Plug and Play China tocooperateon open innovation inthe world's second-largest economy.

"China is leading innovationinthe automotive industry," said Francois Dossa,Alliance Global Vice President,Ventures and Open Innovation; Chairman of Alliance Ventures. "By harnessing the expertise of Plug and Play China,we cangain access to start-ups and technologies that willtransform the mobility experience."

Alliance Ventures and Plug and Playagreed to athree-yearpartnership in China that will benefit both groups. This latest agreement follows successfulexistingpartnerships with Plug and Play both in Japan and in Silicon Valley. With access toPlug and Play China's peerless start-up network,Alliance Ventures' ability to identify and work with promisingstart-ups,carry out pilot projects,andacquireor investin new technology opportunities will be turbo-charged. Renault,Nissan and Mitsubishi Motors will benefit through new business opportunities in the world's largest automotive market and access to cutting-edge,next-generation technologies.

Link:https://www.alliance-2022.com/news/alliance-ventures-focuses-on-disruptive-technology-through-new-partnership-with-plug-and-play-china/

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