American Axle & Manufacturing (AAM) announced it is committing $15 million to Autotech Ventures in a partnership that will provide access to new opportunities that complement AAM’s mission to develop and produce the industry’s most efficient and powerful electric drivelines.
Autotech Ventures is an early-stage Silicon Valley venture capital firm focused on tech start-ups in the global ground transportation industry. With more than $400 million under management, Autotech aims solve the world’s most challenging transport problems while positively impacting society and the environment.
“AAM and Autotech share a commitment to developing the next generation of mobility companies focused on electrification and growth,” said David C. Dauch, AAM chairman and chief executive officer. “We look forward to working with Autotech and the new technology companies that will further advance AAM’s work in bringing the future of mobility faster.”
AAM says its commitment to Autotech provides exposure to new startup and fully-vetted high-tech companies who are advancing automotive technologies in the electrification, connectivity, autonomy, sharing and digitization sectors. Autotech provides startups with capital, ground transportation market intelligence, and access to a transportation network.
AAM adds it is seeking to leverage Autotech’s portfolio and expertise to identify new opportunities with start-up companies to advance innovation in product, process and systems technologies supporting electrification and other new mobility initiatives.