Stellantis Launches Venture Capital Fund Focused On Technology Innovations

Stellantis NV STLA has launched its first venture capital fund, Stellantis Ventures.
The fund will initially invest €300 million in startup companies focused on innovation in the automotive and mobility sector.
Stellantis Ventures will act as a strategic investor and help startups integrate new technologies within the company in shortened timeframes.
“We are moving fast in our transformation to a mobility tech company while reimagining the future of mobility for generations to come,” said chief technology officer Ned Curic.
Price Action: STLA shares are trading higher by 5.93% at $16.41 on the last check Wednesday.