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New fund: Automakers Renault (OTC:RNSDF, OTCPK:RNLSY), Nissan (OTCPK:NSANY, OTCPK:NSANF), and Mitsubishi (OTCPK:MMTOF) announced plans to establish Alliance Ventures. The venture capital fund will invest up to $1B over five years in vehicle electrification, AI, and autonomous systems. Renault SA and Nissan will both pitch in 40% of the financing and Mitsubishi will finance the remaining 20%.
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