Nokia is planning to invest US$100 million in companies that develop intelligent-car technologies, joining the likes of Tesla founder and CEO Elon Musk and Google in betting on smarter vehicles for the future, according to a Bloomberg report.
The investments, to be made by a new Nokia fund, are meant to support the company’s digital-map business, Nokia told Bloomberg. It’ll be run by Nokia Growth Partners, the venture-capital arm that manages about US$700 million.
Nokia sold its mobile-phone unit to Microsoft Corporation for about US$7.5 billion last month. While most of the Finnish company’s revenue now comes from wireless-network equipment, it also seeks to make its maps business more competitive against rivals like Google, the report says.
“We’re seeing innovation that’s happening across the auto ecosystem through the combination of mobility and the Internet,” Nokia venture-capital arm partner Paul Asel said in an interview.
“The car is really becoming a platform like when the mobile handset became a smartphone and all the apps and services developed around that.” Nokia is discussing the new fund today at the Global Mobile Internet Conference in Beijing.
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Current crop of drivers are bad enough
They want to further distract them of the road
All we need is a good gps with real time traffic update for alt routes… And if all cars uses the same platform, communicate with each other to regulate traffic flow, even better (semi autonomous)
Nokia couldnt even recapture the smartphone market because of ego, not wanting to adopt to android platform (like the.rest of their former symbian partners)… Eventually tweaked n creep in to produce the x series..
My moolah is on google… But not fully autonomous vehicle…unless their handicapped / elderly
I would shun Nokia if they move to Google. I actually applaud them for making an Android device with little to no Google in it.
Biased opinion aside, Nokia/Navteq’s map is superior to what Google has to offer. However since Google’s Waze acquisition, their traffic report as well as ETA appears to be more accurate, if you can accept the less complete data google map provides.
Nokia/Here map could have a big boost if they could implement their map in every car and harvest the traffic data and/or driving pattern, improving route finding.
That said, every company is improving, hopefully introducing technology that actually works instead of gimmicks to make money.
Nokia map even have data on kampung roads.
Chris,
What do you mean by “…making an Android device with little to no Google in it.”?
I thot Android is an OS developed by Google?
Long story short: No.
Google bought Android. It’s too long to explain, but it’s possible to have an Android device with no Google in it (No google play store, no maps, cannot sync with google etc).
Nokia X is one of it, another one would be Amazon’s Kindle if not mistaken. They need third party app stores.
Android is a laggy, buggy OS full of malware and issues, im so GLAD they chose a different path.
They were good a few years ago. But since I do not use Google services, a stock Android device is useless for me.
Used to be able to find good apps and games on it, but now half the apps/games have intrusive advertisements, and is just a pain to use.
I guess you didn’t know a lot of car manufacturers are actually using Here Maps (Nokia Maps then) in their cars.
Here is a Joke :) A lot of car manufacturers are stupid to use outdated maps.
Today we have Waze and it’s free dont have to pay for Here’s Maps.
I thought Nokia has filled for bankruptcy? Still think big in investing?
That’s what you thought, mate. Nokia’s cash in hand is around 70 billion Euro. It’s their handset department that has been sold.
Nokia, in a whole, is still earning big money from its wireless tech. Whenever a company makes a phone, Nokia makes money by licensing GSM patents.
Microsoft bought Nokia’s phone department for one bajillion Zimbabwean dollar.
Alright, when car accident the car player will still be tough!!
Jokes aside, srsly i like nokia maps too, much better than google maps which doesnt update malaysia maps