Photo: Stellantis
The Amsterdam-based automotive group announced in March the formation of Stellantis Ventures. An opening tranche of $300 million will help fund startup companies working in tech innovation in support of automotive and mobility-related advancements.
Led by CEO Carlos Tavares, the company believes that by helping fund innovations by those inside and outside of the company's vast umbrella, advancements will continue and ultimately help their bottom line. The company has formed a 'start-up studio' focused on capturing the attention of up-and-coming innovators in a time of rising interest rates and expensive money.
"If we increase the interest rates, then the free money is over, which means that some of the startups will have a little bit more difficulties to develop themselves," Tavares said this week. Stellantis is here "to help that development from the startup perspective. And from the Stellantis perspective, [we want] to shortcut and go faster in some of the things where we can create value," as reported by Automotive News.
Since its foundation, the company has inked more than 40 contracts with startups that include an electric aircraft company and a solid-state battery technology developer.
Tavares has stated that a goal of the backing is to give startups the space to work and not to control them, bog them down, or stifle their creativity; and be there for them when their manufacturing and engineering are needed.
Stellantis N.V. was formed in 2021 in a cross-border merger between the Italian-American conglomerate of Fiat Chrysler Automobiles (FCA) and the French PSA Group. In 2021, Stellantis ranked fifth in worldwide automotive sales behind Toyota, Volkswagen, Hyundai, and General Motors. The core focus of the company is the design, development, manufacturing, and sales, of automobiles. The company has a presence in 130 countries with brands Abarth , Alfa Romeo, Chrysler, Citroen, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram, and Vauxhall.
"If we increase the interest rates, then the free money is over, which means that some of the startups will have a little bit more difficulties to develop themselves," Tavares said this week. Stellantis is here "to help that development from the startup perspective. And from the Stellantis perspective, [we want] to shortcut and go faster in some of the things where we can create value," as reported by Automotive News.
Since its foundation, the company has inked more than 40 contracts with startups that include an electric aircraft company and a solid-state battery technology developer.
Tavares has stated that a goal of the backing is to give startups the space to work and not to control them, bog them down, or stifle their creativity; and be there for them when their manufacturing and engineering are needed.
Stellantis N.V. was formed in 2021 in a cross-border merger between the Italian-American conglomerate of Fiat Chrysler Automobiles (FCA) and the French PSA Group. In 2021, Stellantis ranked fifth in worldwide automotive sales behind Toyota, Volkswagen, Hyundai, and General Motors. The core focus of the company is the design, development, manufacturing, and sales, of automobiles. The company has a presence in 130 countries with brands Abarth , Alfa Romeo, Chrysler, Citroen, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram, and Vauxhall.
Google News