Nokia invests $100m in smart car technology

Nokia's Growth Partners said that the company sees Cars becoming more like Smartphones, with apps and services developed specifically for them.

According to Paul Asel “The car is really becoming a platform like when the mobile handset became a smartphone and all the apps and services developed around that,”

“We’re seeing innovation that’s happening across the auto ecosystem through the combination of mobility and the Internet,”

According to Rajeev Suri, Nokia’s new chief executive “NGP has been consistently performing well bringing in both new innovation and inancial return to Nokia,”

“Our new $100 million venture fund launched today further underlines our belief that the connected car is a significant growth opportunity where NGP is poised to make great investments.”

This is the first major announcement from Nokia since Microsoft Deal.