Stellantis launches a $330M venture capital fund to invest in tech startups developing technologies for automotive and mobility industries
Last July, Stellantis, the world’s sixth-largest automaker, announced it was investing $35 billion through 2025 for the electrification for all its 14 brands of vehicle lineup including new electric vehicles (EVs) with up to a 500-mile range. Stellantis was formed as a result of a merger between Italian-American automaker Fiat Chrysler and France’s PSA Group. Now, the carmaker is expanding its investment beyond the automotive space.
Today, Stellantis said it launched its first venture capital fund aimed at investing in technology startup companies developing technologies that could be deployed within the automotive and mobility industries. The fund, called Stellantis Ventures, will initially invest $330 million (300 million euros) in early- and later-stage tech startups.
In a statement, the company said that the new fund is of the company’s Dare Forward 2030 strategic plan to support aspiring entrepreneurs and foster innovation-driven by customer satisfaction, sustainability, and a comprehensive portfolio of mobility technology.
Stellantis CEO Ned Curic also added that the creation of the fund was part of the group’s effort to transform into a “mobility tech company.” Curic said, “Stellantis Ventures will accelerate our transformation as we adopt new technologies developed by innovative startups while fostering their growth potential.”
“We are moving fast in our transformation to a mobility tech company while reimagining the future of mobility for generations to come,” said Ned Curic, Stellantis Chief Technology Officer. “The market is changing, the technology is changing, and the way we relate to our customers is changing. Stellantis Ventures will accelerate our transformation as we adopt new technologies developed by innovative startups, while fostering their growth potential.”
The carmaker said its venture capital fund would act as a “strategic investor” and help startups integrate new technologies within the group in reduced timeframes.
Headquartered in Amsterdam, The Netherlands, Stellantis is a Dutch multinational automaker formed in 2021 through a cross-border merger between the Italian-American conglomerate Fiat Chrysler Automobiles and the French PSA Group.
Stellantis brands include Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram, and Vauxhall brands. The company currently has 300,000 employees, a presence in more than 130 countries with manufacturing facilities in 30 countries.