Goodyear to Advance Future Mobility with Launch of New Venture Capital Fund

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Jan 07, 2020, 21:00 ET

LAS VEGAS, Jan. 7, 2020 /PRNewswire/ -- Today at the 2020 Consumer Electronics Show, The Goodyear Tire & Rubber Company (NASDAQ: GT) announced a new venture capital fund, Goodyear Ventures, with $100 million targeted for new investments in future mobility solutions over the next 10 years.

Goodyear Ventures will continue and expand Goodyear's growing relationships in new mobility, with a focus on partnering and investing in startups with a shared vision of sustainable, safe and new mobility experiences that make life's connections easier every day.

Goodyear's Chairman, CEO and President Richard J. Kramer said, "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 Ventures will take this effort to the next level to engage and shape how people move in the future."

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
New tire materials

In addition to capital, Goodyear Ventures' portfolio companies will have the opportunity to learn and grow with Goodyear through its extensive technology and innovation resources, vast vehicle service network, and global manufacturing and product development footprint. For more information on Goodyear Ventures, go to www.goodyearventures.com.

About Goodyear
Goodyear is one of the world's largest tire companies. It employs about 64,000 people and manufactures its products in 47 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

SOURCE The Goodyear Tire & Rubber Company