Goodyear Tire & Rubber Co. announced a new venture capital fund, Goodyear Ventures, with $100 million targeted for new investments in future mobility solutions over the next 10 years. Goodyear Ventures intends to expand Goodyear’s growing relationships in new mobility, with a focus on partnering and investing in startups with a shared vision of sustainable, safe and new mobility experiences that make life’s connections easier every day.
The news was announced in Las Vegas at the 2020 Consumer Electronics Show.
Goodyear’s Chairman, CEO and President Richard J. Kramer said,
“Goodyear is a technology-driven mobility company that seeks out and partners with other mobility thought leaders ranging from small startups to proven business models,” Goodyear Chairman, President and CEO Richard J. Kramer said in a statement. “Goodyear Ventures will take this effort to the next level to engage and shape how people move in the future.”
Goodyear Ventures will focus on eight themes shaping mobility:
- Electric and autonomous technologies
- Connected mobility solutions
- Next-generation public mobility
- Next-generation aviation mobility
- Future transportation infrastructure
- Future maintenance and operations
- Emerging technologies
- New tire materials
In addition to capital, Goodyear Ventures’ portfolio companies are expected to have the opportunity to learn and grow with Goodyear through its extensive technology and innovation resources, vast vehicle service network, and global manufacturing and product development footprint.