The venture capital arm of the maker of Jeep SUVs, Ram pickup trucks and other vehicles in its first year has supported pioneering electric-vehicle battery materials, new technologies to enhance safety, and products to offset carbon emissions.
Stellantis Ventures said it has invested in 10 startups plus an undisclosed mobility venture capital fund. The size of that support is roughly a third of the approximately $325 million (300 million euro) it has committed to boost fledgling companies that could help advance its mission toward clean, safe and affordable mobility, said Adam Bazih, head of Stellantis Ventures, which is about the amount the automaker expects to invest each year depending on the market. The automaker is pursuing almost $325 billion (300 billion euro) in global annual revenue by 2030.
"Being a corporate strategic investor, we want to see return on investment, and have a relatively reasonable timeframe" to see financial returns on these investments, Bazih said. "But ultimately, it's about: How can we make a difference for our customers by bringing in this external startup ecosystem, and hopefully bringing those products or services or solutions somehow into our processes or into the hands of consumers?"
