Goodyear to commit $100 million to mobility startups

Las Vegas — Goodyear is committing $100 million (€90 million) throughout the coming decade towards investments in "future mobility solutions," the company has announced.

To that effect, Goodyear has set up a venture capital fund, dubbed "Goodyear Ventures" to focus on partnering and investing in startups for sustainable, safe and new "mobility experiences," the company disclosed 8 Jan at the 2020 Consumer Electronics Show in Las Vegas.

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; and
• New tire materials

"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, CEO and president Richard Kramer said.

"Goodyear Ventures will take this effort to the next level to engage and shape how people move in the future."

In addition to capital, the new unit's portfolio companies will have the opportunity to learn and grow with Goodyear through its technology and innovation resources.

Goodyear did not comment on the sales and/or earnings potential of the new initiative.

In 2019, Goodyear launched several programmes to discover how its tire technology can be used more effectively for predictive maintenance.

Among the initiatives the Akron tire maker undertook were:

• partnering with Envoy Technologies, a California electric car-sharing service, to use Goodyear's predictive tire-servicing programme to forecast and schedule fleet maintenance.
• partnering with Redspher SA, a Luxembourg-based transport and logistics group, to equip some of its vehicles with sensor-equipped "intelligent" tires that can monitor tire wear and pressure.
• teaming with Prazo Inc., operators of Borrow, a California short-term electric car subscription company, to help maintain its fleet of vehicles.
• collaborating with Priva Mobility Inc., a provider of mobile offices, to gather tire-operating data from Priva's vehicle fleet.