European automaker Stellantis' corporate venture capital arm has backed 10 startups from its €300M ($324M) fund launched last year. Stellantis has invested a third of the fund, nearly €100M ($108.3M). Additionally, it has invested in an undisclosed mobility venture fund. Some of the startups in its portfolio are: - Lithium-sulfur battery startup Lyten
- Battery and 3D printing materials firm 6K
- Offroad trail guides website Trails Offroad
- Driver monitoring and risk management technology company Nauto
- Holographic augmented reality startup Envisics
- Satellite positioning tech firm Geoflex
- Biochar producer NetZero
- Vehicle analytics software maker Viaduct
- Connected e-bike app maker Beweelsociety
- Stellantis Ventures' investment strategy is based on the parent group's "Dare Forward 2030" strategic plan, which aims to cut emissions in half by 2030.
- By the end of the decade, it expects 100% of passenger car sales in Europe and 50% of passenger and light-duty truck sales in the U.S. to be battery-powered.
- The entire fund may be fully vested by 2025.
Competitors have launched their own CVC arms, including GM Ventures, BMW iVentures, Volvo Cars Tech Fund, and Toyota Ventures, to invest in startups that will help the firms reach their electrification and autonomous vehicle goals. |
