Visteon CEO Says Innovation Isn’t Coming From Buying Billion Dollar Companies

Visteon may not be the first name that comes to mind when you think technology, but it is at the center of innovation for most of the automakers around the world. CEO Tim Leuliette says, ‘turning the vehicle into a mobile device is the next frontier. That’s why it’s such an interesting area to be in right now.’ Leuliette calls it the ‘democratization of technology’ because having a connected car isn’t just for high-end vehicles anymore, but is for younger people who are accustomed to constantly being connected. Visteon has a venture capital fund that invests in 30 startups and Leuliette says those companies are where the best ideas about technology and innovation are coming from. ‘We’re getting tremendous technology out of them. We’re primarily becoming a software company in the automotive space and that software dynamic, that doesn’t occur in a billion dollar facility.’ TheStreet’s Ruben Ramirez reports from Las Vegas.