Craft beer company Brewdog has announced plans to share out 20% of its profits with charities and staff through a newly-established "Unicorn Fund." It will see 10% of annual profits shared equally among its 1,000 staff, while a further 10% is doled out to charities chosen by its workforce and investors. Brewdog - which reported £7.1 million in profits for 2016 - expects to give away more than £45 million through the fund over the next five years, assuming the company meets its growth targets. "Giving away 20% of our profits - forever - is not about altruism. It is about impact," c o-founder James Watt said. " This is a call to arms for businesses to democratise the impact their charitable contributions can have on their community, their people, and the world."
The Renault-Nissan Alliance is partnering up with Dongfeng Motor Group in hopes of gaining a bigger foothold in China's growing electric car market. The joint venture - named eGT New Energy Automotive Co. - will develop and sell a new line of electric vehicles using Dongfeng's plant in Shiyan in central China, with the capacity for 120,000 vehicles per year. Ford announced last week that it was also exploring a joint venture with Anhui Zotye Automobile Co to bring a new electric car to China's lucrative market. Production for the eGT vehicles is expected to begin in 2019.