Intel Offers $100 Million Funding for New Car Technologies

The company said that it plans on spending the money over the next four to five years to promote the "seamless connection between vehicles and any connected device, including mobile devices and sensors." Intel is the first IT company to offer an investment fund that is dedicated to automotive applications.

"Technology has become an integral component of everyday life, with consumers demanding uninterrupted access to the Internet and the constant flow of information, news, entertainment, and social media," said Arvind Sodhani, president of Intel Capital and Intel executive vice president, in a prepared statement. "Automobiles must be able to provide these same consistent and engaging computing experiences, but in a safe manner."

According to Intel, the funding for new technologies goes hand in hand with its efforts to work with automakers and in-vehicle infotainment companies to come up with sophisticated in-car applications. Needless to say, Intel isn't giving away welfare. The company has been trying to establish itself as a chip supplier for the automotive industry, but has not been able to dent the dominant position of chip companies such as Freescale so far. Intel's business plan expects increasing chip sales every year and if investments in startups can help open the door for Intel, those $100 million may be well invested money.

Check out Intel's vision for the connected car of the future.

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  • Anonymous
    "Intel's business plan expects increasing chip sales every year!"

    This is a problem..

    We all know that an insatiable appetite leads to self destruction!

    The constant growth syndrome is what causes many companies to over-expend, over -stretch, lose focus and eventually implode on the empty core it has produced. Now a company the size and breadth of Intel, with its budget, will have to grow to an enormous size before this happens (if it happens), but the resulting Implosion would be immense.

    The Donut theory, The bigger the Donut- the Bigger the Hole in the Middle!
  • mobrocket

    I think Intel sees the future and the PC in its current form is not it...

    i think they are just trying to find some other revenue streams, just like MSFT
  • fuzzion
    Dear Intel, I do not want my car's ECU to be connected to the web. I really can't afford another another anti virus. Thank you.