Renault-Nissan Alliance Funds Canadian Mobility Start-Up

Renault-Nissan Alliance Funds Canadian Mobility Start-Up

The Renault-Nissan-Mitsubishi Alliance is investing in a Montreal mobility start-up that aims to facilitate the sharing and hiring of multiple modes of transport.

The Alliance is participating in Transit’s latest funding round under the aegis of Alliance Ventures, its recently established venture capital arm. Transit professes to “help people make better transport decisions by providing everything they need to get around without their own car … [through] close partnerships with transit, bike-share, car-share, and ride-hail providers”. It claims its app-based platform provides its users with up-to-the-minute information on the status of their chosen transportation method and tells them things like when to leave their apartment for their bus stop and when to alight.

François Dossa, the Alliance’s global vice-president of ventures and open innovation, said the funding aligned with its “Alliance 2022 strategy to become a leader in robo-vehicle ride-hailing mobility services and a provider of vehicles for public transit use and car-sharing”. Transit CEO Sam Vermette said the start-up was “look[ing] forward to working closely with Renault-Nissan-Mitsubishi as Transit grows”.

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