AUDI AG, BMW Group and Daimler AG Jointly Acquire Nokia's Mapping System to Boost Future of Digital Driving
FREMONT, CA: Nokia’s advanced digital mapping and location system, HERE, has been jointly acquired by three German automakers – AUDI AG, BMW Group and Daimler AG. While ownership will be shared equally, the three companies plan to let HERE work independently. As new shareholders of the platform, these automakers will be able to continue developing location-based services and autonomous vehicle in the presence of accurate map data. The acquisition will provide their connected vehicles with accurate, up-to-date information on road and other conditions that will help in delivering customers with a detailed representation of the real world in real time.
Nokia’s cloud-based mapping system provides high-definition digital maps for nearly 200 countries with support for 50 languages. It gathers data from countless sources such as cars, mobile phones, the transport and logistics sector as well as infrastructure elements. The platform is connected to millions of vehicles and their on-board sensors to generate information about the car's surroundings, enabling customers to experience more comfort when travelling with the assurity of safer roads and less congestion and clean urban areas. According to report, the acquisition is worth $ 2.7Bn.
Under the guidance of new owners, HERE will build on its current strengths and will add new capabilities to further provide customers with highly-automated driving experience. AUDI AG, BMW Group and Daimler AG will not be jointly controlling HERE, rather they have separated their roles as customers, suppliers and investors. The digital mapping system’s strategy to expand will be secured under this new governance structure, being safeguarded by a supervisory board of its new owners and recognized industry figures. HERE will remain open to all customers, and be open to other investors who would create an even broader shareholder structure.
"The combination of this leading map technology with data from vehicles, devices and infrastructure will give HERE and its customers a clear advantage in the development of future mobility services. As more partners and customers join this model, HERE will be able to provide even better, more up-to-date maps and a precise digital real-time representation of our world of mobility," says Klaus Fröhlich, Member of the Board of Management for Development, BMW AG.
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