SEOUL, March 18 (Reuters) - South Korea’s SK Holdings Co Ltd on Thursday said it and China’s Zhejiang Geely Holding Group Co Ltd will each invest $30 million in a new mobility investment fund whose size they plan will reach $300 million in total.
The holding firm of South Korea’s third-largest conglomerate SK Group in a statement said the fund will invest in promising companies in fields such as autonomous driving, electrification and connectivity, and plans to attract a variety of global investors, including European banks and pension funds in Asia.
SK also said it and Zhejiang Geely, parent of Geely Automobile Holdings Ltd, have agreed to promote diverse cooperation in next-generation mobility businesses involving hydrogen fuel, battery-related materials, chips and autonomous driving technology.
Zhejiang Geely did not provide an immediate comment.
SK affiliates include the world’s second-largest memory chip maker SK Hynix Inc and electric vehicle battery manufacturer SK Innovation Co Ltd. (Reporting by Joyce Lee; Additional reporting by Yilei Sun; Editing by Christopher Cushing)