Why Mercedes is investing in the smart home market
The automaker is spending $5.5 billion in a new digital business to help finance the home improvement and home automation market.
The company’s new business will help it build a suite of new devices, software, and services for consumers, including smart homes, to help them do everything from set timers and thermostats to control lighting and security cameras.
The new business, called Smart Financial Center, will help manage customer accounts, manage credit cards, and manage financial plans.
The home improvement company will partner with HomePoint Financial Services to provide services and provide products for the home.
The goal is to build a platform that can be integrated with existing systems to help consumers make smart, smart decisions about their homes, the company said in a press release.
Mercedes has been focused on investing in home automation technology for years.
In 2017, the automaker said it would invest $1 billion in the technology.
Last year, the carmaker said it was adding 100 new smart home products and adding 200 new workers.