Nissan Starts Saving on EVs and Automated Driving Systems

The manufacturer will withdraw from the venture fund to reduce costs as much as possible.

Amid an 80% drop in sales in China and last year's poor financial performance, Nissan is struggling to reduce costs. This time the manufacturer decided to take a serious step – to stop investing money in Alliance Ventures.

Nissan Starts Saving on EVs and Automated Driving Systems photo 2

Alliance Ventures is a venture capital fund created at the time of Carlos Ghosn. We can say that this is his last brainchild as head of the alliance. The main task of the fund is to finance developments and technologies related to «the new mobility». We are talking about electric vehicles, automated driving systems, artificial intelligence, and so on. According to preliminary calculations, the fund planned to spend about €1 million on new developments over 5 years. To date, it has already invested in more than ten startups, half of which have become famous.

According to Reuters, Nissan has not yet made a decision to exit Alliance Ventures. The manufacturer will make its decision by the end of the month. Another source says that Nissan did not come to this decision itself. The company was supported by Mitsubishi, which has so far refused to invest in the fund. At the same time, the first source called the rumors speculation, and the second said that nothing had been decided yet.

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