PARIS (Reuters) – Stellantis announced on Thursday that its venture capital fund Stellantis Ventures has invested around 100 million euros in ten start-ups and a fund focused on innovations in the mobility of tomorrow and transition assistance energy.
The world’s third largest automaker by turnover launched Stellantis Ventures last year with an initial amount of 300 million euros.
“We have used about a third of our endowment so far,” fund manager Adam Bazih said during a press conference call.
He added that Stellantis would use products from artificial intelligence and driving aids developer Nauto, digital all-terrain guide provider Trails Offroad and connected electric bicycle developer Beweelsociety this year.
Products from other projects financed by the fund, both in the United States and Europe, will enter the Stellantis ecosystem starting in 2024, he added.
Among them are those of the Californian start-up Lyten specializing in lithium-sulfur batteries, the subject of an investment announced separately at the end of May.
The name of the mobility fund in which Stellantis Ventures has also invested has not been disclosed for regulatory procedural reasons. Adam Bazih simply specified that he was based in the United States.
(Gilles Guillaume report, with Giulio Piovaccari in Milan, edited by Blandine Hénault)
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