Groupe PSA to Launch €100M Venture Capital Initiative

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Groupe PSA, Europe’s second largest carmaker, which owns Peugeot, DS and Citroën, is to launch a venture capital initiative.In the framework of the “Push to Pass” strategic plan for the 2016-2021 period, Groupe PSA aims to become a global supplier of mobility services.To this end, it is committing €100m to invest in tech startups that develop services linked to automotive mobility including B2C car sharing services, B2B car sharing and fleet management, connected aftersales and lead business, and smart services and car related big data.The group has already made an investment in TravelerCar, a startup offering new parking and car rental solutions.FinSMEs 05/07/2016

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