Nexen Tire supporting mobility start-ups with capital initiative

Nexen Tire has established Next Century Ventures (NCV), a Silicon Valley-based initiative aimed at backing budding mobility start-ups. Jin Mann Lee, chief strategy officer at Nexen Tire, will double as the managing partner at Next Century Ventures.

Next Century Ventures plans to invest in companies focusing on leading innovation and the fourth industrial revolution in the Silicon Valley, and will also seek investment opportunities in other countries and regions including Europe, China, and South Korea.

The aim of the initiative is to “accelerate the expansion of Nexen Tire into a new and futuristic mobility space.” Target investments will include core mobility technologies such as automotive sensors and Artificial Intelligence (AI), electric vehicles, and self-driving technologies.

Nexen Tire says its venture capital is “in line” with that of global companies investing in promising start-ups to discover and secure new core technologies while attracting exceptional talents.

“Openness and cooperation are crucial in the era of the fourth industrial revolution because companies cannot develop all technologies on their own,” said Travis Kang, global chief executive officer of Nexen Tire. “Nexen Tire is ready to make bold and forward-looking investments that will ultimately fulfill the goal of becoming a global mobility company.”