German Automakers Poised To Buy Nokia Here

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Audi, BMW and Mercedes are in talks to buy Nokia’s “Nokia Here” mapping system. No deal has been done but there are ongoing talks among the companies. If a deal is to be made these three automakers plan on asking Fiat Chrysler Automobiles NV, Renault SA, PSA Peugot Citroën, Ford, Toyota and General Motors to invest into Nokia Here as well.

“The goal has always been to run the service as an open platform for everyone,” one person said. “The final signing could take place in the next few days.”

Nokia Here has proven to be a profitable venture generating half it’s sales (€970 million) from the auto industry and the remaining balance from location-based services. Nokia bought Navteq back in 2008 for $8.1 billion and that is what Nokia Here is built on. The automakers are making their move on the mapping system for fear that Google may try and scoop it up leaving the auto industry at Google’s mercy for mapping.

The companies plan on using the Nokia Here technology for future self-driving cars they would produce. It’s clear that the auto industry sees Google as a threat with mapping and their own self-driving car project. Nokia Here is supposed to be a pretty accurate and superior mapping system thus the investment into it. It will be interesting to see if this deal goes through and how the future of self-driving cars pans out.

Nokia, BMW, Audi and Mercedes all declined to comment. Hit the source link below for a comprehensive write up of this story.

[button link=”http://www.theaustralian.com.au/business/technology/audi-bmw-and-daimler-near-deal-to-buy-nokia-mapping-service/story-e6frgakx-1227452197786″ icon=”fa-external-link” side=”left” target=”blank” color=”285b5e” textcolor=”ffffff”]Source: The Australian[/button]

Last Updated on November 27, 2018.

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