Today, BMW announced the planned creation of a tech incubator in New York City to seed innovations in mobile and location-based services. The announcement follows the automaker's establishment in February of a venture capital company, BMW i Ventures, with an investment fund of as much as $100 million, and serves as yet another indication that BMW is turning its eye toward the mobile startup scene.
Oh, and they'll still make cars, too.
But while such a strategy has obvious benefits in an industry increasingly looking to merge vehicles with high-end tech (BMW's iPhone integration, Ford Sync, Hyundai's iPad owner's manual), the automaker is clear that it's not expecting to invest only in technology applicable to automobiles.
"As a mobility company, we are focusing on mobility services that may not even have anything to do with cars," says Joerg Reimann, a managing director of BMW i Ventures. "We're not coming at this...
Oh, and they'll still make cars, too.
But while such a strategy has obvious benefits in an industry increasingly looking to merge vehicles with high-end tech (BMW's iPhone integration, Ford Sync, Hyundai's iPad owner's manual), the automaker is clear that it's not expecting to invest only in technology applicable to automobiles.
"As a mobility company, we are focusing on mobility services that may not even have anything to do with cars," says Joerg Reimann, a managing director of BMW i Ventures. "We're not coming at this...
- 4/1/2011
- by Austin Carr
- Fast Company
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