Nokia looks to smart-cars for its future; invests $100 milion in start-ups

Nokia may be out of the smartphone game but that’s a far cry from being out of the tech sector altogether. The company is trying to rebuild itself after its recent deal with Microsoft and today Nokia seems to have its eyes fixed on “connected cars”.

The company has announced it’s putting aside $100 million to invest in start-ups that develop intelligent-car technologies. Nokia name checks Google, Tesla, Toyota and BMW in its press releases as other players in this field, however the ex-smartphone company insists it has a different, more global view towards the car market.

Nokia mentions new innovations happening in China and India which may impact the future of driverless smart-cars. This probably shows that the company is looking towards the low-end of the market, a lesson well learned from its mobile phone days.

"We’re seeing innovation that’s happening across the auto ecosystem through the combination of mobility and the Internet,” Paul Asel, a partner at the Nokia venture-capital arm, 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."

Finally it’s worth mentioning that this is not the first time Nokia is taking an interest in the auto world, in fact it has always been somewhat of a player in this field through HERE location services that are used by many car companies for in-built navigation.

It looks like Nokia is making big changes and has its sights set high, and that’s very exciting for a company that’s always been able to adapt and win in very different playing fields. We hope they do for the smart-car market what they did for handset market over the last 15 years.

Source: Nokia Growth Partners Via: TechEU | Image via Panorama.it

Report a problem with article
Previous Story

Microsoft to launch Snap Attack for Windows and Windows Phone tomorrow

Next Story

Ballmer: Microsoft and Apple are two trick ponies

23 Comments

Commenting is disabled on this article.

Electric cars cause more pollution than diesel or petrol cars.
All the fossil fuel burnt and/ or nuclear power needed to produce electricity to charge them up
has a bigger impact on the environment.
Solar is what they should invest in.

FloatingFatMan said,
Solar is useless for many countries, especially the more northern European ones! Hydrogen fuel cells, now that's more viable.

The UK is a northern European country and it has more than enough light to make solar viable.

As for pollution from the grid, the percentage of energy generated from renewables is constantly increasing and new technologies and emissions standards can reduce the pollution from fossil fuels. That means that electric cars become more environmentally friendly as the grid does, unlike petrol / diesel cars which are always going to be terrible for the environment. It's easier to improve the efficiency of the national grid than it is to replace 20 million cars every time technology improves.

FloatingFatMan said,
The UK isn't the only northern European country on the planet. A solution that doesn't work for all, isn't a solution at all.

I didn't claim it was but it is one of the most northern ones. Many of those that are more northern like Norway have better renewable energy production, so they're even better equipped for electric cars. Obviously no-one is going to advocate investing in solar in countries that aren't suitable for it, I'm sure it was just a general statement.

The solution is renewable energy, which is suitable for all. Solar is simply one form of renewable energy.

Solar just transfers heat to electricity.
Norway are very good at renewable energy production.
It really annoys me how Britain always lag behind everyone else when it comes
to a better environment.
Then the government decide to invest, by allowing the energy companies to charge the consumer, you and I more for power as they say they will use the money for future advancements.
All home in Britain should be granted so they can get solar panels for the roofs ate a low cost.
I have solar lights on my shed roof, solar lights in the garden and solar lights in the car park to help those parking make their way safely to their homes.
There are no lights in the car park. I don't use the car park as I don't own a car, however some of them back their cars onto my rear fence and I want them not to go through it.
We need to cut down on gas for cooking and starts using more solar power and use electric cookers, heaters and anything else that has an electric alternative.

The whole move with buying the mapping company years ago was to help with this and phones. But with HERE maps on phones already in place then cars is the next logical step.

Finally it's worth mentioning that this is not the first time Nokia is taking an interest in the auto world, in fact it has always been somewhat of a player in this field through HERE location services that are used by many car companies for in-built navigation.

You mean since they started as a tire manufacturer in 1932 ;)

And China. Chinese government hates Google and it's spying practices but they are on really good terms with Nokia because Nokia invest heavily there and employs a great number of Chinese workforce.

paulheu said,
It would not be surprised if Nokia grows in to the European version of Google somehow..

That's extremely unlikely. Nokia just doesn't have the financial resources of a company like Google.

theyarecomingforyou said,

That's extremely unlikely. Nokia just doesn't have the financial resources of a company like Google.

They have more than what most Fortune 500 companies today started with. They also have an excellent brand recognition worldwide, and not even a tainted one like Google's. Besides, financial constraints never stopped them from taking on the likes of Samsung and flooding the market with Lumias in all price ranges. Up until they sold their devices business, they were doing better than most Android manufacturers.

AsherGZ said,
Besides, financial constraints never stopped them from taking on the likes of Samsung and flooding the market with Lumias in all price ranges. Up until they sold their devices business, they were doing better than most Android manufacturers.

Nokia was hemorrhaging money and was heading towards inevitable bankruptcy before Microsoft stepped in. It's stock had been rated 'junk' by most analysts and it burnt through the massive cash reserves it had just several years ago. Nokia has seen its market share slashed in recent years.

Google has been investing major money and research into smart cars for years now and is much further along. It is extremely unlikely that Nokia will catch up.

Hum said,
How about Smart drivers first ....

I think that's proven much harder to do so they're now trying to skip the driver altogether and just have the car drive itself ;)