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Alliance Ventures expands Plug and Play partnership to China

Alliance Ventures, the venture capital fund of an alliance between automakers Renault SA, Nissan Motor Co. Ltd. and Mitsubishi Motors Corp., has partnered with the Chinese arm of startup incubation platform Plug and Play.

According to a May 9 company release, the Renault-led alliance and Plug and Play entered into a three-year partnership in China, adding to their existing collaborations in Japan and Silicon Valley.

Alliance Ventures aims to leverage Plug and Play China's network to identify promising startups, carry out pilot projects and acquire or invest in new technology opportunities in the country.

The venture capital fund noted that its investment in electric-vehicle charging startup PowerShare was part of the California-based fund's mobility acceleration program, which is conducted twice a year.