The tire maker has continued to seek opportunities in the mobility space outside of Korea and felt a tie-up with a venture capitalist would open up new avenues."We talked to several incubators and venture capitalists and Plug and Play must have heard that we were looking for opportunities because they came knocking on our door.We exchanged ideas about working together and felt that both companies could benefit from a partnership,"reveals Din Lee,head of strategy planning at Nexen Tire.Conducting R&D in-house can be expensive and time-consuming,often necessitating a large amount of trial and error,Lee notes."A more efficient way of doing it is by working with startups that have done experiments of their own,and specifically targeting the ones that have received funding from investors as that's a good sign that their technologies will become commercial."
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