Driving New Connected Car InvestmentsWhy we raised a new connected car fund, by Paul Asel, Managing Partner, Nokia Growth Partners Our heritage in mobile In 2005 when we lau...
As car ownership goes down, the transportation-as-a-service business model offers a higher-margin opportunity within the auto sector.
The following is a guest post by Paul Asel for CBinsights. Asel is managing partner of Nokia Growth Partners (NGP) and a global technology investor across the US, Europe, and Asia.
A seismic shift is occurring in the transportation sector. As General Motors CEO Mary Barra noted recently at the World Economic Forum, “I believe the auto industry will change more in the next five to 10 years than it has in the last 50, and this gives us the opportunity to make cars more capable, more sustainable and more exciting than ever before.”
The implications of this change are profound for consumers and business. For the average US adult who spends about an hour in cars daily, the prospect of improved productivity is alluring. For business and technology, innovation in the transportation sector, which accounts for over 10% of US gross domestic product (GDP), places mobility as an opportunity akin to the mobile sector… read more on CBinsights.