Nexen Tire partners with Plug and Play for future tech development

The partnership was announced at Plug & Play’s headquarter in Sunnyvale, California

Nexen Tire, a leading tire manufacturer, recently announced that it has entered into a partnership with US-based Plug & Play, an early stage investor and corporate innovation platform. Plug & Play has been an early investor in firms including Lending Club, PayPal, SoundHound and Dropbox, cite sources.

For the record, Plug & Play, is a global corporate innovation platform that provide corporate innovation services and has built accelerator programs. Since its establishment in 2006, the company’s programs have expanded worldwide, with presence in over 20 global locations, providing start-ups with necessary resources.

As per sources close to the matter, the collaboration aims to build infrastructure for future technology and business development. The two companies announced their partnership at Plug & Play’s headquarter in Sunnyvale, California, during Summer Expo at Plug & Play with over 500 attendees ranging from major OEMs (Original equipment manufacturer), top tier venture capitals, top automotive suppliers and startups. The partnership would make novel innovations in the tire and mobility industries.

Don Lee, Executive Director, Nexen Tire America Technical Center, was reportedly quoted saying that Nexen Tire in partnership with Plug & Play is better positioned to bring innovations to the field of tire technology. The company expects to utilize the opportunity to extend its global footprint in terms of business and technology and contribute to the start-up ecosystem and transform into an innovative corporation.

Sobhan Khani, VP of Mobility & IoT at Plug and Play, reportedly stated that yet another global corporation has joined Play & Plug’s platform and the company is expecting the collaboration to serve opportunities to both Play & Plug and Nexen Tire to develop an innovative business environment for the automobile industry.

Reportedly, the collaboration would enable Nexen Tire to form partnerships with leading technologies in the tire and mobility industries. This would help the company to realize its open R&D philosophy of offering partnerships and collaboration, especially to companies in the field of tire technology.

 

Source credits: https://www.prnewswire.com/news-releases/nexen-tire-partners-with-plug-and-play-for-future-technology-and-business-development-851158325.html