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Miami Lakes Automall Mitsubishi Alliance Enevate Investment

Renault-Nissan-Mitsubishi Alliance Makes Another Smart Investment

Miami Lakes Automall Mitsubishi Alliance Enevate Investment

The four-year plan for the Renault-Nissan-Mitsubishi Alliance is well underway with Alliance 2022 and the current funding campaign, Alliance Ventures. Earlier in 2018, the alliance made five investments in several companies and startups that shared similar interests with their Alliance 2022 plan. Recently, the alliance has used Alliance Ventures to invest in a sixth company that’s going to change the way consumers view electric vehicles.

Enevate

One of the largest reasons consumers shy away from alternative fuel vehicles like plug-in electric hybrids (PHEVs) and especially electric vehicles (EVs), is the fear that they will be stranded if the battery powering the motor runs out of juice. Luckily, unless irresponsible, consumers can find an electric charging station nearly anywhere with the PlugShare app, and electric vehicle charging stations in Miami, Florida are becoming increasingly popular. But that’s sometimes the second reason consumers are wary – needing to plug in somewhere for two hours or more is a bit of a buzz kill.

That’s where Enevate is providing a solution. With their advanced lithium-ion (Li-ion) battery technology, this startup company based in Irvine, California is going to change the way people recharge PHEVs and EVs. By using what they call HD-Energy Technology, Enevate has achieved a far superior version of fast charging via high energy density.

The HD-Energy Technology has already been able to offer the following benefits:

– A 75-percent increase in charging rates, down to five minutes

– High energy density charging for EVs that have a long driving range

– Able to be utilized in warm and cold climates, as low as -40 degrees F

– The cost is lower than EV charging today

– It’s safer

“We share the common goal of making electric vehicles easier to use and adopt in mass markets. We look forward to our strategic partnership with Renault-Nissan-Mitsubishi, as they are a global leader in electric vehicles and they understand the market needs of EV consumers worldwide.” – Enevate President and CEO Robert A. Rango

With all these benefits, and the funding from Renault-Nissan-Mitsubishi, Enevate is almost ready to start producing their technology in high volumes. The Renault-Nissan-Mitsubishi Alliance isn’t the only company to invest in Enevate, either. LG Chem, another high-profile investor, showed interest in the technology in October 2018. Now, automotive manufacturers and suppliers worldwide just need to adopt the next-generation features that PHEVs and EVs can offer, and Enevate can take alternative fuel vehicles to the next level.

Last Five Investments

Alliance Ventures has made five investments in 2018 to benefit Alliance 2022 and future concepts for the alliance auto brands. In the U.S., the Renault-Nissan-Mitsubishi Alliance invested in Ionic Materials, a firm currently developing solid-state cobalt-free battery materials for hybrids and plug-in hybrids to provide automakers cheaper ways to make high quality alternative fuel vehicles. One of the first investments though were in many robotaxi startups – artificial intelligence and autonomous vehicles are the main focus of Alliance Ventures.

The funding campaign was also used to invest in the DiDi Auto Alliance intelligent-ride sharing and autonomous technology conglomerate in China, in exchange for access to auto leasing and sales, auto finance, auto service, fleet operation, and car-sharing solutions. Another company based in China, Sinovation Ventures, is focused on developing artificial intelligence and has been backed by Jaguar, Land Rover, and Valeo. With Alliance 2022 dealing with autonomous and artificial intelligence as the main two focuses of future car concepts, it makes sense for the Renault-Nissan-Mitsubishi Alliance to also make these investments.

Curious to find out what’s next for the alliance? Follow Miami Lakes Mitsubishi on social media and join the discussion online.

Photo Source/Copyright: Enevate
Miami Lakes Automall Nissan-Renault-Mitsubishi Five Investments

Five Latest Investments by Alliance Ventures

Miami Lakes Automall Nissan-Renault-Mitsubishi Five Investments

Renault-Nissan brought Mitsubishi Motors into the fold back in 2016 to create the new Renault-Nissan-Mitsubishi Alliance. Over a year, Mitsubishi Motors finished producing its last in-house vehicle, the 2018 Mitsubishi Eclipse Cross, and started to use Nissan’s resources to get a running start as part of the alliance. In January 2018, the Renault-Nissan-Mitsubishi Alliance began a new funding campaign called “Alliance Ventures” to invest $1 billion in order to support open innovation, start-ups, and entrepreneurs in technology with a focus on autonomous systems, electric vehicles (EVs), connectivity, and artificial intelligence. The fund will last five years, and to start things off, $200 million was allocated for the first year’s budget – $50 million of that budget has already been spent in the last five months. Here’s a list of all five investments.

Overseas

Being that all three automakers are from the other side of the hemisphere, with Mitsubishi Motors and Nissan settled in Japan, and Renault in France, the investments started overseas. The first was with the DiDi Auto Alliance. Founded by DiDi, an artificial intelligence and autonomous technology conglomerate in China, the DiDi Auto Alliance is an intelligent ride-sharing alliance working on providing new smart mobility solutions in China. The main goal of the DiDi Auto Alliance aims to unite all its members to transform the business model of the automotive industry and become the largest full-capacity vehicle operator platform in the world by providing services like auto leasing and sales, auto finance, auto service, fleet operation, and car-sharing solutions. The Renault-Nissan-Mitsubishi Alliance struck a deal to help fund the DiDi Auto Alliance in exchange for their automotive services.

A France-based company, Kalray, has also received funding from Alliance Ventures, being that their current goals are very similar to those of the alliance. In addition to their plug-in electric hybrid vehicles, the alliance plans to develop fifteen models with autonomous features by 2022; Kalray is working on developing a microprocessor that can be used in autonomous driving. Sounds like the perfect match and a smart investment.

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