Wednesday, January 19, 2022
HomeBusinessVolkswagen invests in EU-backed fund

Volkswagen invests in EU-backed fund

Published on



FRANKFURT:

Volkswagen is expanding its green strategy by investing in an EU-backed fund to jointly support technology firms in the field of energy transformation. The carmaker, which has committed to becoming carbon neutral by 2050, said on Wednesday it had entered a strategic partnership with EIT InnoEnergy and will become a shareholder in the EU-backed venture. The move is in line with other steps by Volkswagen, which in September unveiled plans to set up its own €300 million ($348 million) venture capital fund to invest in decarbonisation projects and start-ups in the field. “The idea is simply … to use InnoEnergy as an additional way to find interesting enterprises and support them in scaling up their business models,” said Volkswagen’s Head of Group Mergers and Acquisitions, Investment Advisory and Partnerships Jens Wiese.

Published in The Express Tribune, November 4th, 2021.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.




**If you have any Query Related This Post then here is the Source Link**

LEAVE A REPLY

Please enter your comment!
Please enter your name here

RELATED ARTICLES

Most Popular