Bosch considers stake in HERE digital mapping backed by BMW, Mercedes and VW

News | April 11th, 2016 by 1
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Auto supplier Bosch is in talks with high-definition digital maps company HERE, exploring whether to take a stake. HERE is controlled by consortium of BMW, …

Auto supplier Bosch is in talks with high-definition digital maps company HERE, exploring whether to take a stake. HERE is controlled by consortium of BMW, Daimler and Volkswagen. The aim of the talks was to ensure that Bosch can continue to offer services to customers of HERE.

Last December, AUDI AG, BMW Group and Daimler AG successfully concluded the acquisition of Nokia’s digital mapping and location business HERE. The three partners each hold an equal stake in HERE. The acquisition is intended to secure the long term availability of HERE’s products and services as an open, independent and value creating platform for cloud-based maps and other mobility services accessible to all customers from the automotive industry and other sectors. The three partners will each hold an equal stake in HERE; none of them seeks to acquire a majority interest.

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Extremely precise digital maps will be used in combination with real-time vehicle data in order to increase road safety and to facilitate innovative new products and services. One area of importance is the crucial technology for autonomous driving.

Earlier this week Daimler confirmed its was in talks with Amazon.com and Microsoft about taking a minority stake in HERE.

Daimler’s Mercedes-Benz, Volkswagen’s Audi division and BMW bought HERE for 2.5 billion euros ($2.8 billion) from Nokia.

[Source: Reuters]

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