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Smart cars lure investors

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Smart cars lure investors

Although the automakers are the ones that actually – for the most part – are set to put on the streets the new intelligent cars of the future, investors are lured away from them, jumping on the connected car technology and telecom bandwagon instead.

The connected auto market is in for a serious expanse in the next ten years or so, as it is predicted to reach a worth of $50 billion (29.1 billion pounds). That’s great news for tech and telecom companies that plan a foray into the segment, and names like Infineon or Google are among the big bunch of companies that test, develop and implement smart technology in the near future cars.

When it comes to self-driving car technology, many put up front Google – which has released its own developed prototypes on the matter, even as a number of automakers is also swinging its prowess into the new segment.

“It’s a whole new market emerging,” said Christian Jimenez, fund manager and president of Diamant Bleu Gestion. “The best way to play it for investors in the long term is to buy names such as Microsoft or chip makers such as Infineon, not (automakers) Peugeot and Renault”.

Google, besides its foray into driverless technology, is also introducing its technology into cars in a far easier to understand mode, in the form of the Android Auto software – but not doing it alone, but together with a broad range of companies, including carmakers – allowing the driver to seamlessly use its smartphone without even touching it in the car. Apple unveiled a little faster than Google its own take on the subject, the CarPlay, which does the same with any iPhone.

by Aurel Niculescu (my Google+) - Wednesday, July 2nd, 2014 - filed under News, Technology. Image credit: .
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