BMW i Ventures, which is BMW’s recently established venture capital company with an investment fund of up to $100 million to develop individual mobility solutions for the world’s biggest cities, announced today that Edward Robinson will be President of the division. Robinson is a 32-year old BMW Group veteran.
The fund also announced the planned creation of an incubator laboratory space in New York City and establishment of an expert advisory board whose purpose will be to guide decisions regarding future investments.
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“As urban populations around the world increase, the goal of BMW i Ventures is to develop and leverage technology to further the freedom of mobility,” said Robinson, who will assume the BMW i Ventures role in addition to his continuing service as President and CEO of BMW Financial Services, Americas Region. “We have chosen to base our operations in New York City because of its position as a center of digital media and technology and its proven commitment to furthering this industry.”
BMW i Ventures is focused primarily on mobile connectivity and location-based services aimed at increasing the freedom of mobility of individuals in the world’s most heavily populated urban centers. We’re guessing that the BMW i3 will eventually become the company’s first car-sharing service vehicle.
– By: Omar Rana