Nokia invests USD 100 million in "smart" cars

Finland`s Nokia plans to invest USD 100 million in the companies working on the development of smart-car technology, the New York news agency Bloomberg announced today.

This money will be provided from Nokia`s newly established fund that will be managed by the company`s venture capital group Nokia Growth Partners.

- We`re noticing innovations across the entire automotive industry through the combination of mobility and the Internet - said Paul Asel, a Nokia Growth partner.

After selling its mobile phone production division to the U.S. company Microsfot last month, Nokia is now looking to reorganize operations and diversify into new fields.