Dotcom marks raid anniversary with marriage and lawsuit

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Dotcom marks raid anniversary with marriage and lawsuit

Tech January 20, 2018 17:26

By Agence France-Presse
Wellington

4,989 Viewed

Internet entrepreneur Kim Dotcom on Saturday marked the anniversary of the raid on his mansion by getting married and serving a multi-billion-dollar damages claim against the New Zealand government.

“I have a habit of turning bad anniversaries into good anniversaries by doing beautiful things that outshine bad events,” he tweeted.

Dotcom has been battling extradition to the United States since police raided his mansion near Auckland six years ago on January 20.

The FBI alleges Dotcom’s Megaupload file-sharing service netted more than US$175 million in criminal proceeds and cost copyright owners more than US$500 million by offering pirated content.

The German-born New Zealand resident has denied any wrongdoing and accused US authorities of pursuing a vendetta against him on behalf of politically influential Hollywood studios.

“Today, 6 years ago, the NZ Govt enabled the unlawful destruction of Megaupload and seizure of my global assets,” he tweeted.

“I was arrested for the alleged online piracy of my users. Not even a crime in NZ. My lawyers have served a multi-billion dollar damages claim against the Govt today.”

His website was an early example of cloud computing, allowing users to upload large files onto a server so others could easily download them.

At its height in 2011, Megaupload claimed to have 50 million daily users and that it accounted for four percent of global internet traffic.

Dotcom, who turns 44 on Sunday, said by getting married on the anniversary of the raid, he was turning January 20 into a “day of joy”.

He separated from his first wife Mona three years ago and announced last year he would be marrying Elizabeth Donnelly, 21 years his junior.

“Getting married and getting justice. What a wonderful day,” he tweeted on Saturday.

Facebook to let users rank ‘trust’ in news sources

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(FILE) - A close-up image showing the Facebook app on an iPhone in Kaarst, Germany, 08 November 2017 (reissued 19 December 2017). /EPA-EFE
(FILE) – A close-up image showing the Facebook app on an iPhone in Kaarst, Germany, 08 November 2017 (reissued 19 December 2017). /EPA-EFE

Facebook to let users rank ‘trust’ in news sources

Tech January 20, 2018 08:20

By Agence France-Presse
San Francisco

6,128 Viewed

Facebook announced Friday it will ask its two billion users to rank their trust in news sources, in its latest attempt to combat the spread of misinformation on the social network.

The change to the Facebook news feed comes as the online giant seeks to address charges that it has failed — along with Google and Twitter — to prevent the spread of bogus news, most strikingly ahead of the 2016 US election.

In a Facebook post, co-founder and chief executive Mark Zuckerberg said the network would seek to “prioritize news that is trustworthy, informative, and local.”

“There’s too much sensationalism, misinformation and polarization in the world today,” Zuckerberg said. “Social media enables people to spread information faster than ever before, and if we don’t specifically tackle these problems, then we end up amplifying them.”

The new “trusted sources” ranking, which starts next week, would aim to “make sure the news you see, while less overall, is high quality” and “helps build a sense of common ground” rather than sow division, Zuckerberg said.

To do so, he said, Facebook decided to rely on member surveys as the most “objective” way to rank trust in news sources.

“We could try to make that decision ourselves, but that’s not something we’re comfortable with,” Zuckerberg said. “We considered asking outside experts, which would take the decision out of our hands but would likely not solve the objectivity problem.”

The new ranking system, he said, would hopefully separate news organizations that are only trusted by their readers or watchers, from ones that are broadly trusted across society.

“This update will not change the amount of news you see on Facebook,” he said. “It will only shift the balance of news you see towards sources that are determined to be trusted by the community.”

The latest move comes a week after Facebook announced a major update to its user feed that highlights what friends and family share on the network, over advertisements, celebrity and media posts.

The company cast the change as part of a refocus on “community” — prioritizing social interactions and relationships — while acknowledging it would likely result in people spending less time on the platform.

5G phones could debut in late 2019

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5G phones could debut in late 2019

Tech January 19, 2018 06:00

By China Daily/ANN

2,315 Viewed

BEIJING – Large-scale testing of next-generation network to precede commercial launch.

The nation will step up its push to commercialise fifth-generation mobile communication technology, with 5G-ready smartphones likely to come out in late 2019, experts said.

The comments came as the country aims to get pre-commercial 5G telecom equipment ready by the end of this year, to lay a foundation for large-scale testing of 5G applications and services in 2019.

Wang Zhiqin, an expert with the Ministry of Industry and Information Technology, said, “Given that the first version of 5G standards will come out in June this year, we expect system equipment, including base stations and network gears, will be able to achieve the pre-commercial level by the end of 2018.”

“But it will take a longer time to develop 5G-ready chips, and 5G smartphones will only be possible after June 2019,” he said on the sideline of a conference on Tuesday. Wang is deputy head of the China Academy of Information and Communications Technology, a think tank affiliated with MIIT.

China is striving to accelerate the research and development of 5G, as the super-fast technology is forecast to drive 6.3 trillion yuan ($979 billion) of economic output in the country by 2030.

On Tuesday, MIIT unveiled the technical requirements for third phase 5G tests and encouraged companies to conduct more research into the integration of chips, systems and other instruments.

China Unicom, the country’s second-largest telecom carrier, said it plans to conduct 5G tests in seven areas, including Beijing, Shanghai, Tianjin and Xiongan.

Wen Ku, director of the telecom development department at MIIT, said more efforts will also be made to promote R&D in low, medium and high-frequency bands, and to accelerate the push to test different 5G applications.

Kalvin Peng, head of R&D at Ericsson Northeast Asia, said pre-commercial 5G services require the interconnection of different gadgets and systems.

“It is easier to adjust the systems to match the first version of global 5G standards than to adjust hardware. And once companies are determined to test chips, it will take a huge amount of money. As a result, 5G chips will come out very slowly,” Peng said.

The Swedish telecom service provider is working closely with China Mobile, the largest telecom carrier in China, on 5G research. In December, the two sides finished all tests on a 5G core network laboratory initiative.

Ericsson said it expected there will be at least 1 billion 5G users in the world by 2023, with mobile data traffic surging eightfold by that time.

On Wednesday, the company unveiled a solution to meet consumers’ rising demand for better indoor connectivity. The new gadget, dubbed Ericsson 5G Radio Dot, is designed for enhanced mobile broadband and to boost indoor network coverage.

YouTube tightens rules to keep content ‘clean’

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YouTube tightens rules to keep content ‘clean’

Tech January 18, 2018 22:32

By The Korea Herald/ANN

2,526 Viewed

SEOUL – Google will be manually screening popular, high-view YouTube videos before attaching ads to ensure ‘clean’ environment online.

Google is adopting a more rigorous worldwide advertisement policy for content uploaded to YouTube, with aims to clean up its video-sharing site and address growing complaints from advertisers that their messages are being attached to inappropriate videos.

YouTube will impose stricter criteria on the types of videos that can earn advertising revenue through the video-sharing site, and will manually review “top-tier” videos with high view counts and viewer engagement before attaching ads to them, Google executives wrote in a blog post this week.

YouTube’s latest policy tightening comes after the video-sharing site has faced criticism for incidents where ads were placed on violent, racist or otherwise inappropriate videos, prompting major advertisers to leave the platform.

“We’re making changes to address the issues that affected our community in 2017 so we can prevent bad actors from harming the inspiring and original creators around the world who make their living on YouTube,” Neal Mohan, YouTube’s chief product officer wrote on YouTube’s Creator Blog.

“A big part of that effort will be strengthening our requirements for monetization so spammers, impersonators, and other bad actors can’t hurt our ecosystem or take advantage of you, while continuing to reward those who make our platform great.”

Google plans to strengthen the selection criteria for the YouTube Partner Program, which lets creators monetize their videos by attaching ads to them. Google is now imposing stricter criteria over which video channels are accepted into this program.

Previously, channels had to reach 10,000 total views to be eligible for the YouTube Partner Program. But now, channels will have to have 1,000 subscribers and 4,000 hours of watch time within the past 12 months to be eligible for ads.

The new requirements for existing channels will take effect from Feb. 20, Google said. It also pledged to closely take into account factors like community strikes, spam and abuse flags to remove inappropriate accounts and channels from YouTube.

In addition, YouTube said its content management staff will manually screen all videos included in Google Preferred — a premium service that grants advertisers access to YouTube’s top-viewed content. Ads will only run on Google Preferred videos verified to be compliant with YouTube’s ad criteria.

According to the US tech giant, manual review of Google Preferred channels and videos will be completed by mid-February in the US, and by the end of March in all other markets whether it is available, including South Korea.

Google Preferred videos comprise around five percent of all videos that are uploaded on YouTube globally, according to Google.

Nissan and NASA project will transfer tech from space to earth

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Nissan and NASA project will transfer tech from space to earth

Tech January 17, 2018 20:00

By The Nation

2,114 Viewed

Nissan and Nasa have forged further cooperation on autonomous mobility services.

Nissan North America Inc, the US-based subsidiary of Nissan Motor Co Ltd, announced late last week that it had signed an agreement with the Nasa Ames Research Centre in California’s Silicon Valley to collaborate on research and technology development for future autonomous mobility services.

This collaboration will build on the previous success of their already-existing partnership, in the form of Nissan Seamless Autonomous Mobility (SAM).

First unveiled at a global stage for innovations last year – CES 2017 – SAM constitutes a new platform for managing fleets of autonomous vehicles. It is developed based on Nasa technology.

The new phase in the joint collaboration between Nissan and Nasa will further develop the technology and test the use of SAM ahead of public implementation.

“Our goal is to deploy SAM to help third-party organisations safely integrate a fleet of autonomous vehicles in unpredictable urban environments,” said Maarten Sierhuis, director of the Nissan Research Centre in Silicon Valley. He sees ride-hailing services, public transportation or logistics and delivery services as key customers segments.

Eugene Tu, director of Nasa’s Ames centre, said one of Nasa’s strategic goals was to transfer the technology developed for Nasa missions and programme objectives to broader commercial and social applications.

Canadian man charged over leak of three bn hacked accounts

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Canadian man charged over leak of three bn hacked accounts

Tech January 16, 2018 06:58

By Agence France-Presse
Montreal

2,692 Viewed

An Ontario man made his first court appearance Monday to answer charges of running a website that collected personal and password data from some three billion accounts, and sold them for profit.

Jordan Evan Bloom, 27, of Thornhill earned some Can$247,000 ($198,800 US) by selling the data for a “small fee” via leakedsource.com, the Royal Canadian Mounted Police said in a statement.

The information was stolen during massive hacks of websites including LinkedIn and the Ashley Madison online dating service.

Some of the data could also be used to access other popular websites if the hacked user used the same password and username combination, according to police.

Bloom was charged in December as part of a criminal probe dubbed “Project Adoration” focusing on trafficking in personal data, unauthorized use of computers, and possession of illicitly obtained property.

The probe lasted more than a year.

Authorities have shut down Bloom’s website, but another with the same domain name hosted by servers in Russia is still operating.

“The RCMP will continue to work diligently with our domestic and international law enforcement partners to prosecute online criminality,” inspector Rafael Alvarado said in a statement.

Police noted that help from the Dutch National Police and the FBI were “essential” to the investigation.

Japan plans to implement ‘EdTech’ for schools

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Schoolchildren listen to a teacher showing how to use "GraphoLearn", an application on a digital tablet, to learn to read, in a primary school on January 8, 2018 in Marseille, southern France. / AFP PHOTO
Schoolchildren listen to a teacher showing how to use “GraphoLearn”, an application on a digital tablet, to learn to read, in a primary school on January 8, 2018 in Marseille, southern France. / AFP PHOTO

Japan plans to implement ‘EdTech’ for schools

Tech January 15, 2018 23:17

By The Japan News/ANN

2,500 Viewed

TOKYO – The government plans to introduce a measure to reinforce effective use of information technology and artificial intelligence in the field of education, including at elementary and junior high schools.

The introduction of such technology is aimed at complementing students’ varying learning abilities in different subjects. Methods such as online teaching are expected to be used, and will serve to prevent such learning gaps while also reducing the burden on teachers.

Electronic blackboards and tablets have been widely distributed to public institutions, including elementary and junior high schools, but whether they are actually used in classrooms depends largely on teachers’ competence.

The Economy, Trade and Industry Ministry and relevant bodies are encouraging schools and academic facilities that support active use of cutting-edge technologies such as IT and AI to team up with IT-related companies and come up with ideas for how to utilize the technology. The ministry will subsidize or pay commission fees to forward-thinking teams, allowing them organise classes and other activities on a trial basis. It then plans to disseminate effective programs nationwide.

As part of the measure, external teachers will give online classes to students who have a hard time keeping up in class, while any teacher can share study materials online for students.

In the United States, utilization of IT and AI in education is known as “EdTech.” AI can recognize types of questions and problems that children find difficult and provide an individual teaching program by serving up questions based on a student’s comprehension level, to help them study efficiently.

In Japan, many students attend juku cram schools to catch up on what they have not fully understood in class, and there is a deep-rooted belief that parents should shoulder the educational expenses of their own children. This has led to criticism that parents’ different economic situations have created disparities between children’s academic ability and background. Calls have been heard within the government and ruling parties to use IT to offer detailed guidance for students.

Watchdog cautious on nod for Uber’s tie-up with ComfortDelGro

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A driver ends a ride taken with the Brazilian App for ridesharing 99 Taxi in Rio de Janeiro, Brazil, on January 4, 2018.  / AFP PHOTO
A driver ends a ride taken with the Brazilian App for ridesharing 99 Taxi in Rio de Janeiro, Brazil, on January 4, 2018. / AFP PHOTO

Watchdog cautious on nod for Uber’s tie-up with ComfortDelGro

Tech January 15, 2018 23:17

By The Straits Times/ANN

2,232 Viewed

SINGAPORE – A tie up between Singapore’s two largest ride providers will tilt the balance in favour of the two groups, eroding competition.

The Competition Commission of Singapore (CCS) is expected to decide by the end of the month whether to approve an alliance between two of Singapore’s largest ride providers – ComfortDelGro and Uber.

It is doing a second round of feedback gathering on the impact of ComfortDelGro’s proposed 51 per cent acquisition of Uber-owned Lion City Holdings. If there are concerns, the commission will go into its second phase of deliberations, which will be more extensive and likely to take longer to complete.

The regulatory watchdog has good reason to be cautious. The deal will create a giant with a fleet of more than 27,000 – 13,500 Comfort and CityCab taxis and 14,000 Lion City private-hire cars.

This is out of a total fleet of 24,400 cabs and 50,000 private-hire cars in Singapore.

Other than directly owning 14,000 private-hire cars through Lion City, it is not known how extensively Uber has tied up with rental firms which supply the remaining 36,000 cars to drivers.

The American group’s hold on the private-hire market, vis-a-vis Grab’s, is thus unclear. But it is clear that a ComfortDelGro-Uber tie-up will tilt the balance in favour of the two groups. It will thus erode competition – something that is potentially undesirable to both drivers and commuters in the long run.

The two are already launching UberFlash, a ride-hailing app offering cabbies potentially higher earnings with dynamic fares. During low-demand hours, fares are likely to be slightly lower than current taxi fares. But when demand is high – say, on rainy days, the morning rush hour or when trains break down – fares can surge three times higher.

Size matters 

As with most industries, size works to the advantage of the dominant player, which can give it an unfair advantage over other players. In competition law, this could be described as abusive dominance if the dominant player, whether tacitly or overtly, prevents rivals from competing.

“If such abuses are not stopped, potential competitors will not be able to enter the market or grow in size, industries will be less competitive and customers will lose out eventually,” the CCS said on its website. It makes it clear that being dominant, by itself, is not anti-competitive. But the potential for abuse exists.

For example, a dominant supermarket chain, upon learning that a rival is eyeing a recently vacant property, could offer the landlord much higher rental to keep competition out. Or a leading motor insurer might cultivate a network of workshops to reject vehicles covered by other insurers.

Even before the proposed alliance with Uber, ComfortDelGro already had a taxi market share of around 60 per cent, according to fleet size. The other taxi operators – in earlier years, essentially only SMRT and a small fragmented fleet of owner-operators – could not compete with Comfort in any effective way. Comfort will dwarf them all again if it joins hands with Uber.

Liberalisation 

In 2001, the Government liberalised the market. Barriers were lowered to allow new entrants. Trans-Cab, Premier and Prime entered the fray in the following years.

That created some competition for drivers and Comfort started dishing out more incentive payments and welfare to its cabbies.

But nothing else changed. Cabby rental rates continued to be revised upwards and commuters still complained about not being able to get a cab when they needed one (despite the overall fleet having grown by a third since liberalisation).

This was because even though there were newcomers, the dominant player continued to call the shots when it came to changes that mattered – such as rental rates and fares. Attempts by the smaller players to introduce differential pricing, or a variation of peak and off-peak fares, failed. Invariably, they would revert to Comfort’s model.

In time, there would be no change unless Comfort changed.

Enter Uber, Grab 

Things took a dramatic turn when Uber and Grab entered the scene in 2013. For the first time, taxi drivers and commuters had a viable alternative. And ComfortDelGro started to face competition – for real.

When Grab partnered all the other smaller operators to offer commuters alternative ways to get a ride, creating a combined fleet size which almost equalled ComfortDelGro’s, the giant had met its equal for the first time.

So, what the 2001 liberalisation failed to do in more than 10 years, the disruptors did in under four. While Grab partnering the smaller cab firms had resized the market, it left Uber with a weakened position. The United States company had no choice but to knock on Comfort’s doors. Being equally weakened, ComfortDelGro had no choice but to sleep with the enemy.

David and Goliath

If the ComfortDelGro-Uber deal is allowed, the market will revert to its David-Goliath imbalance. But unlike the biblical outcome, Goliath almost always wins in any marketplace.

The current situation offers a level of competition never seen before in the rides market here. It should be preserved as it is, even if regulatory measures to enhance safety and policies to ensure fair tax treatment for all players can be improved.

Using AI to maximise driving pleasure

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Using AI to maximise driving pleasure

Tech January 15, 2018 23:02

By Chularat Saengpassa
The Nation
Las Vegas

Riffing off driver’s brainwaves, Nissan vehicle adjusts vehicle performance, taking the world of mobility to new heights.

Artificial intelligence can drive for us, but Nissan said its goal in inventing a driverless vehicle is not to replace drivers but rather to perpetuate driving pleasure.

With that aspiration, Nissan’s Brain-to-Vehicle (B2V) inventions, once commercialised over the next five to 10 years or so, promise not to take away the control from drivers.

“I have always thought the driving pleasure is a valuable human asset we have to perpetuate,” said Nissan’s senior innovation researcher, Lucian Gheorghe.

The technology was unveiled to the public earlier this month at CES 2018 in Las Vegas, the world’s gathering place for all those who thrive on the business of consumer technologies. This year, the annual event ran from Tuesday to Saturday with Nissan joining the forum to showcase several interesting inventions. Among the big highlights was B2V, the latest development in Nissan’s “Intelligent Mobility” programme.

Gheorghe, the lead of B2V research at the Nissan Research Centre in Japan, said the system catches signs that the driver’s brain is about to, say, press the throttle, step on the brakes, or turn the steering wheel. Knowing what’s coming next from the driver, the car could help in subtle ways – necessarily by turning the wheel or tromping the accelerator. Instead, if the driver intended to slow down, the car’s AI could ease off on the throttle to settle the suspension, or pre-charge the brakes or move the brake pads closer to the brake rotors.

Or if it’s raining, the AI could lightly apply the brakes to dry them off. If the driver intends to change lanes, it might increase the size or brightness of the blind spot detection lights. If the car has haptic feedback, it could vibrate the seat or steering wheel before the driver starts the lane change to warn of a car in the way.

For the research, the test driver wears a device that looks like a skullcap or headset, with wiring leads coming off the back.

The cap measures brain wave activity. It can pick up waves that repeat themselves each time the driver encounters a given situation. In this way, it can both detect and predict.

The system could also detect driver discomfort or fatigue. If the car is autonomous or semi-autonomous, Gheorghe says, AI could “change the driving configuration or driving style”.

The B2V system interprets brain activities to assist with driving. For example, it helps speed up reactions and facilitates systems that maximise driving pleasure. According to Nissan, the system learns from the driver. With this information they could then help take action, such as turning the steering wheel or slowing the car – 0.2 to 0.5 seconds faster than the driver – while remaining largely imperceptible.

“There is no need to fear that the brain-monitoring devices will decipher and steal their users’ thoughts, said Gheorghe. “Just to make things clear, this technology is not reading thoughts. It’s not mind-reading technology”.

The B2V demonstration provided this year’s CES-goers a cool glimpse into what future holds for the world of mobility, a future with more autonomy, more electrification and more connectivity.

“When most people think about autonomous driving,” said Nissan executive VP Daniele Schillaci, “they have a very impersonal vision of the future, where humans relinquish control to the machines. Yet B2V technology does the opposite, by using signals from their own brain to make the drive even more exciting and enjoyable.”

Aside from B2V, Nissan showcased an IMx concept car to thrill those who love autonomous driving. Unveiled first in Japan, the car joined the new electric car LEAF on display at CES. IMx came with advanced technologies including ProPILOT, e-Pedal and enhanced connectivity.

Equipped with ProPILOT that offers fully autonomous operation, the IMx can stow the steering wheel inside the dashboard and recline all seats, giving the driver more space and allowing the vehicle’s occupants to relax and enjoy their commute.

When the “manual” drive mode is selected, the vehicle returns the steering wheel and seats to their original position, seamlessly transferring control back to the driver. It also comes with an automated parking function, able to find its way to a vacant spot on its own even without a driver inside.

Auto alliance launches venture-capital fund for innovation partnerships

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Carlos Ghosn
Carlos Ghosn

Auto alliance launches venture-capital fund for innovation partnerships

Tech January 15, 2018 22:54

By The Nation

2,083 Viewed

Renault-Nissan-Mitsubishi, the world’s leading automotive alliance has launched Alliance Ventures, a new corporate venture capital fund that plans to invest up to US$1 billion (Bt32.01 billion) to support open innovation over the next five years.

In its first year, the fund expects to invest up to $200 million in start-ups and open innovation partnerships with technology entrepreneurs focused on new mobility, including vehicle electrification, autonomous systems, connectivity and artificial intelligence.

With further annual investments, Alliance Ventures is set to become the largest corporate venture capital fund in the automotive industry over the period of Alliance 2022, the strategic midterm plan launched last year by Renault-Nissan-Mitsubishi.

Carlos Ghosn, chairman and CEO of Renault-Nissan-Mitsubishi, said that the new fund is unique because it offers potential partners access to the global scale and scope of the automotive Alliance, which sold more than 10 million vehicles in 2017 through 10 separate brands and with a presence in all major automotive markets.

Alliance Ventures will invest in start-ups to bring new technologies and businesses to the Alliance while ensuring a fair financial return. The fund will make strategic investments at all start-up stages and will incubate both new automotive entrepreneurs and forge new partnerships.

“Our open innovation approach will allow us to invest and collaborate with start-up companies and technology entrepreneurs, who will benefit from the global scale of the Alliance,” said Ghosn. “This new fund reflects the collaborative spirit and entrepreneurial mind-set at the heart of the Alliance.”

The first deal by Alliance Ventures will be a strategic investment in Ionic Materials, a promising US-based company that is developing solid-state cobalt-free battery materials. The equity acquisition coincides with the execution of a joint-development agreement with the Alliance for the purpose of R&D cooperation.

Ionic, based in Massachusetts, is the developer of a pioneering solid polymer electrolyte that enables improved performance and cost effectiveness of high-energy density batteries for automotive and multiple other applications.

By making such investments, Alliance Ventures will help identify and support the development of new technologies for potential use by Alliance members. Such initiatives are aligned with the objectives of Alliance 2022, which aims to strengthen cooperation and to double the annualised synergies generated by Renault, Nissan and Mitsubishi Motors to more than 10 billion pounds (Bt439.4 billion) by the end of 2022. The $200 million (Bt6.4 billion) initial venture capital investment comes in addition to more than 8.5 billion pounds in total annual research and development investments by the Alliance members.

Alliance Ventures will be led by Francois Dossa, who has over 20 years of experience in investment banking, plus six years of experience within the Alliance itself, most recently as CEO of Nissan Brazil. The Alliance Ventures team will also draw on the expertise and business opportunities identified by a cross-functional team of experts from Renault, Nissan, and Mitsubishi.

This initiative complements the Alliance strategy to seek incremental revenues, cost savings and cost-avoidance in areas including electrification, autonomous drive systems and vehicle connectivity. By the end of its strategic plan, the Alliance will launch 12 purely electric models, utilising common EV platforms and components, while also bringing to market 40 vehicles with autonomous drive technology and developing robo-vehicle ride-hailing services.

Alliance Ventures will define innovation areas and geographic markets for investment, working with existing research and advanced engineering teams, and will recruit venture capital experts to develop the platform. It is expected to be co-located in Silicon Valley, Paris, Yokohama and Beijing, close to the technology and research centres of the Alliance member companies, as well as to areas with strong innovation ecosystems.

Renault (at 40 per cent), Nissan (40 per cent) and Mitsubishi Motors (20 per cent) will jointly fund the entity, which will have a dedicated investment committee to make investment decisions and monitor their performance.

“This investment initiative is designed to attract the world’s most promising automotive-technology start-ups to the Alliance,” said Ghosn.

As part of the Alliance 2022 strategic plan, Renault-Nissan-Mitsubishi is forecasting that the combined revenues of its member companies will reach $240 billion and that annual unit sales will exceed 14 million by the end of 2022.