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Thursday, 27 June 2019, 15:47 HKT/SGT
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Source: Mitsubishi Motors
Mitsubishi Motors: Alliance Ventures Invests in the Mobility House to Boost Electric Mobility

TOKYO, June 27, 2019 - (JCN Newswire) - Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, announces an investment in The Mobility House, a technology company that provides a platform for integrating vehicle batteries into power grids using intelligent charging, energy and storage solutions.

That investment is the latest by Alliance Ventures in start-up, early-stage development and entrepreneurs at the cutting edge of next-generation technology for the automotive industry. The Mobility House is based in Germany, Switzerland and California's Silicon Valley.

"Alliance Ventures aims to provide the right ecosystem of open innovation to ensure Alliance member companies deliver mobility for tomorrow," said Francois Dossa, Alliance Global Vice President for Ventures and Open Innovation and Chairman of Alliance Ventures. "The Mobility House's expertise in e-mobility and energy transition will contribute to the Alliance commitment to zero-emission vehicles and to the achievement of our vision: shaping the future of mobility."

Alliance member companies and The Mobility House have already embarked on several projects together. For instance, through collaboration with The Mobility House, the Nissan LEAF was the first electric car to be used in a Vehicle-to-Grid (V2G) project in Germany, in Hagen. Cooperating with Groupe Renault, The Mobility House will market the biggest stationary energy storage systems made with electric vehicle batteries in Europe and contribute through its smart energy platform to make the Portuguese island of Porto Santo, near Madeira, the first "smart island" in the world.

"Alliance Ventures is a perfect investor for The Mobility House," said Thomas Raffeiner, founder and CEO of The Mobility House. "The fact that the vision and skill set of our companies fit together very well has been proven many times in the past. We are delighted that we can embark on many more projects and make our shared vision of a sustainable energy future come true even faster."

The investment in The Mobility House follows 11 others by Alliance Ventures, including start-up based in North America, Europe and China.

Financial terms of the investment in The Mobility House are not being disclosed.

About The Mobility House

The goal of The Mobility House is to create a zero-emission energy and mobility future. Our technology platform unites the automotive and energy sectors. We integrate vehicle batteries into the power grid using intelligent charging, energy and storage solutions. This way, we promote the development of renewable energies, stabilize the power grid and make electric mobility more affordable. The technology company was founded in 2009 and operates globally from its Munich, Zurich and Sunnyvale (CA) sites, serving customers in over 10 countries. These include leading automotive manufacturers, fleet operators, installation companies, energy suppliers and electric car drivers.

For more information, visit mobilityhouse.com.

About Renault-Nissan-Mitsubishi

Groupe Renault, Nissan Motor Company and Mitsubishi Motors represent the world's largest automotive alliance. It is the longest-lasting and most productive cross-cultural partnership in the auto industry. Together, the partners sold more than 10.6 million vehicles in nearly 200 countries in 2017. The member companies are focused on collaboration and maximizing synergies to boost competitiveness. They have strategic collaborations with other automotive groups, including Germany's Daimler and China's Dongfeng. This strategic alliance is the industry leader in zero-emission vehicles and is developing the latest advanced technologies, with plans to offer autonomous drive, connectivity features and services on a wide range of affordable vehicles.

www.alliance-2022.com
www.media.renault.com
www.nissan-newsroom.com
www.mitsubishi-motors.com/en/newsrelease/

About Alliance Ventures

Alliance Ventures is the strategic venture capital fund of Renault-Nissan-Mitsubishi, the world's largest automotive alliance. The fund, launched in 2018 and co-located in Amsterdam, Silicon-Valley, Paris, Yokohama, Beijing and Tel Aviv, plans to invest up to $1 billion in its first five years to support open innovation. Alliance Ventures targets technology and business model innovation in new mobility, autonomous driving, connected services, EV & energy and enterprise 2.0. By drawing on expertise and business opportunities from across the world's largest automotive alliance, the fund makes strategic investments at all start-up stages and incubates new automotive entrepreneurs at the cutting edge of next-generation systems for the automotive industry.

www.alliance-2022.com/ventures/


About Mitsubishi Motors

MITSUBISHI MOTORS CORPORATION is a global automobile company based in Tokyo, Japan, which has a competitive edge in SUVs and pickup trucks, electric and plug-in hybrid electric vehicles. Since the Mitsubishi group produced its first car more than a century ago, we have demonstrated an ambitious and often disruptive approach, developing new vehicle genres and pioneering cutting-edge technologies. Deeply rooted in MITSUBISHI MOTORS' DNA, our brand strategy will appeal to ambitious drivers, willing to challenge conventional wisdom and ready to embrace change. Consistent with this mindset, MITSUBISHI MOTORS introduced its new brand strategy in 2017, expressed in its "Drive your Ambition" tagline -- a combination of personal drive and forward attitude, and a reflection of the constant dialogue between the brand and its customers. Today MITSUBISHI MOTORS is committed to continuous investment in innovative new technologies, attractive design and product development, bringing exciting and authentic new vehicles to customers around the world.

Contact:
Mitsubishi Motors
Public Relations Department
http://www.mitsubishi-motors.com
+81-3-6852-4275


June 27, 2019 15:47 HKT/SGT
Source: Mitsubishi Motors

Topic: Press release summary
Sectors: Automotive
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