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Stellantis Details $330M Venture Fund

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Industry Week
April 13, 2022
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Photo by: https://unsplash.com/@ale_s_bianchi

Summary

In an effort to accelerate innovation for meeting a goal of having half of all its vehicles electric by 2030, Stellantis is investing in forward-thinking small tech start-ups.

Leaders of global automotive manufacturer Stellantis plan to invest at least about $330 million (€300 million) in startups via a new venture capital fund.

Stellantis Ventures will put money to work in young companies focused on, among things, propulsion systems, advanced materials and electronics with an eye to benefiting the company’s brands, which include Dodge and Jeep as well as Fiat, Alfa Romeo and Maserati. The fund will contribute to many of the goals Stellantis CEO Carlos Tavares and his team laid out late last year–when Tavares said he wants Stellantis to generate more than $20 billion in sales from software and related services–and at the company’s recent 2030 strategic plan discussion.

“We are moving fast in our transformation to a mobility tech company,” Ned Curic, Stellantis’ chief technology officer said in a statement. “The market is changing, the technology is changing, and the way we relate to our customers is changing.”

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Industry Week
Industry Week

IndustryWeek is the only media brand dedicated to championing the people and companies that are making the U.S. manufacturing sector a global leader. We are the essential information source for the decision-makers and disruptors driving manufacturing’s latest transformation, the 4th Industrial Revolution, with a core focus on how companies develop and deploy talent and technology to achieve transformational leadership practices, revolutionary business models, state-of-the-art production systems, and next-generation products made possible by the convergence of maturing technologies.

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