22 Jul 2024
The voice of the independent garage sector

NGK sets up venture capital fund

NGK has set up a $100m corporate venture capital fund based in Silicon Valley, with a view to accelerate the creation of new non-internal combustion engine businesses.

NGK says it will be looking to invest in businesses focused on smart health, decentralised utility and smart mobility. The move is part of its 2030 Long-Term Management Plan NITTOKU BX, which began in April 2020. As well as Silicon Valley, the company also intends to invest in businesses in other regions of the USA, Europe, Israel, Asia and elsewhere.

Commenting on the fund, NGK Spark Plugs (UK) Marketing Manager Mark Hallam said: “The announcement sends a positive message to both staff and customers and is tangible evidence of the company’s investment plans for the future.”