Nokia investing $100M in smart car tech

|About: Nokia Corporation (NOK)|By:, SA News Editor

Flush with Microsoft cash, Nokia (NOK -1%) says its VC arm plans to invest $100M in companies developing computing and communications technologies for cars.

Presumably, Nokia is counting on the investments to strengthen the ecosystem for its Here unit, which has a sizable chunk of the automotive mapping/navigation market. Nokia launched an embedded infotainment platform (Here Connected Driving) last year, and is also working on offering location-based services for cars.

The effort comes at a time when competition is intensifying: Apple launched its CarPlay platform (pairs iPhones with in-dash automotive systems from various OEMs) in March, and Google is partnering with automakers to bring Android-based in-dash systems to market.