Germany-based carmaker Volkswagen’s Porsche subsidiary opened a corporate venturing and innovation site in Santa Clara, in California’s Silicon Valley, earlier this month as part of its Porsche Digital initiative.
Porsche Digital’s first local US deal is a commitment to venture capital fund E.ventures, having acquired a minority stake in Evopark, the Germany-based creator of an app that shows where parking is available at parking garages and allows users to pay electronically.
The unit plans to invest directly in US companies and work in partnership with innovators and leaders in new technologies, as well as cooperating with venture capital companies. The office will focus on the topics of digitalisation, connectivity and smart mobility.
Thilo Koslowski (pictured from LinkedIn), managing director of Porsche Digital, has relocated back to California, having originally set up Porsche Digital in Germany in May 2016 after 20 years working in the US for market research firm Gartner.
Koslowski said: “The car is the ultimate mobile device of the future, and the future is being written in Silicon Valley.
“This means it is particularly important to be right next door to leading IT companies in the US, as this allows us to identify trends early and invest in new technologies at the right time. In addition to our own potential for innovation, above all we want to form strong partnerships.”