American Axle & Manufacturing (AAM) in Detroit is investing $15 million in Autotech Ventures, a partnership that is expected to provide access to technology that assists AAM in developing and producing 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 seeks to 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,” says David C. Dauch, chairman and CEO of AAM. “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’s commitment to Autotech provides exposure to new startup and fully vetted high-tech companies that 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 says 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.