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A consortium of German automakers which include Audi, BMW, and Mercedes-Benz have agreed to buy Nokia's HERE mapping business for around $3.1 billion dollars. The deal is currently pending approval of antitrust authorities. If the deal is given the go-ahead, the three automakers will own a stake by early 2016. HERE is one of the most advanced and largest digital mapping and location systems. It was originally started back in 1986 with Navteq before being acquired by Nokia in 2007. The service maintains digital maps for nearly 200 countries, and updates continuously by gathering data from users. Now why are three automakers interested in a mapping service? The end goal is for the system to be used with autonomous vehicles. But the three automakers are also interested in integrating it with their connected car technology. An example is warning drivers of icy conditions via outside temperature and ABS activation. Now the three automakers insist that HERE will remain open "to all customers from the automotive industry and other sectors." Also, the new owners will stay out of the day to day business of HERE. "High-precision digital maps are a crucial component of the mobility of the future. With the joint acquisition of HERE, we want to secure the independence of this central service for all vehicle manufacturers, suppliers and customers in other industries," stated Dieter Zetsche, Chairman of the Board of Management of Daimler AG. Source: Audi, BMW, Mercedes-Benz Press Release is on Page 2 AUDI AG, BMW Group and Daimler AG agree with Nokia Corporation on joint acquisition of HERE digital mapping business August 03, 2015 | INGOLSTADT, MUNICH, STUTTGART, Germany Acquisition will secure and strengthen HERE as an independent company serving customers from all industriesReal-time maps and location based services will be the basis for the mobility of tomorrow Transaction expected to close in first quarter 2016 AUDI AG, the BMW Group and Daimler AG have agreed with Nokia Corporation that they will acquire its mapping and location services business 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. Subject to the approval of the relevant antitrust authorities, the transaction is expected to close in the first quarter of 2016. HERE is laying the foundations for the next generation of mobility and location based services. For the automotive industry this is the basis for new assistance systems and ultimately fully autonomous driving. 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. On the basis of the shared raw data, all automobile manufacturers can offer their customers differentiated and brand-specific services. “Our environment is constantly changing. That’s why the information in digital maps has to be continually updated so that maximum utility can be offered,” stated Rupert Stadler, Chairman of the Board of Management of AUDI AG. The high-precision cameras and sensors installed in modern cars are the digital eyes for updating mobility data and maps; in this way, information such as speed limits or critical driving situations are already recognized today. All data gained will be processed in compliance with strict data-protection rules. “HERE will play a key role in the digital revolution of mobility, combining high definition maps and data from vehicles to make travel safer and easier for everyone,” explained Harald Krüger, Chairman of the Board of Management of BMW AG. This knowledge will be to the benefit of all carmakers and their customers. “High-precision digital maps are a crucial component of the mobility of the future. With the joint acquisition of HERE, we want to secure the independence of this central service for all vehicle manufacturers, suppliers and customers in other industries,” stated Dieter Zetsche, Chairman of the Board of Management of Daimler AG. Swarm intelligence will create new information density for road maps "HERE will be able to offer users a continuously improving product, bringing highly automated driving and location based services a step further. As the volume of anonymized data from the vehicles increases, services will become more convenient, more connected and further tailored to the users’ individual requirements,” said Ulrich Hackenberg, Member of the Board of Management of AUDI AG for Technical Development, Klaus Fröhlich, Member of the Board of Management of BMW AG for Development, and Thomas Weber, Member of the Board of Management of Daimler AG for Group Research. It is the explicit intention that all HERE customers are to benefit from this continuous optimization. The social benefits of swarm intelligence are enormous: They facilitate warnings of hazards in real time, of icy roads for example, based on calculations of individual data such as ABS activations and outside temperature. Upcoming traffic jams will be identified more precisely in the future, significantly reducing the risk of accidents. In this way, the vision of accident-free driving is gradually becoming reality. In a further stage, the data could be used to learn about critical bends on the road, in order to warn drivers in good time or to activate assistance systems. Anticipation of green phases of stoplights could navigate vehicles through an urban area on a “green wave” with the appropriate engine performance and minimized fuel consumption. High-precision maps are important for autonomous driving and many other forms of assistance systems, as these technologies require an up-to-date plan of a vehicle’s surroundings exact to the nearest centimeter, in order to react in real time. While HERE already produces extremely precise static maps, they can be verified more exactly and continually updated with a constant flow of data from vehicles’ surroundings. HERE will continue to offer its services and products across industries. HERE provides mapping and location intelligence for nearly 200 countries in more than 50 languages and is one of the main providers of mapping and location services. The company will continue to develop its position as a strong and independent provider of maps and location-based services, will expand its product offering and continue to make it available to all customers across industries. The management of HERE will continue to be independent – with the goal of moving the HERE business case forward as a platform, open to all customers. The consortium will not interfere into operational business. View full article -
Audi, BMW, and Mercedes-Benz Buy Nokia's HERE Maps
William Maley posted an article in Automotive Industry
A consortium of German automakers which include Audi, BMW, and Mercedes-Benz have agreed to buy Nokia's HERE mapping business for around $3.1 billion dollars. The deal is currently pending approval of antitrust authorities. If the deal is given the go-ahead, the three automakers will own a stake by early 2016. HERE is one of the most advanced and largest digital mapping and location systems. It was originally started back in 1986 with Navteq before being acquired by Nokia in 2007. The service maintains digital maps for nearly 200 countries, and updates continuously by gathering data from users. Now why are three automakers interested in a mapping service? The end goal is for the system to be used with autonomous vehicles. But the three automakers are also interested in integrating it with their connected car technology. An example is warning drivers of icy conditions via outside temperature and ABS activation. Now the three automakers insist that HERE will remain open "to all customers from the automotive industry and other sectors." Also, the new owners will stay out of the day to day business of HERE. "High-precision digital maps are a crucial component of the mobility of the future. With the joint acquisition of HERE, we want to secure the independence of this central service for all vehicle manufacturers, suppliers and customers in other industries," stated Dieter Zetsche, Chairman of the Board of Management of Daimler AG. Source: Audi, BMW, Mercedes-Benz Press Release is on Page 2 AUDI AG, BMW Group and Daimler AG agree with Nokia Corporation on joint acquisition of HERE digital mapping business August 03, 2015 | INGOLSTADT, MUNICH, STUTTGART, Germany Acquisition will secure and strengthen HERE as an independent company serving customers from all industriesReal-time maps and location based services will be the basis for the mobility of tomorrow Transaction expected to close in first quarter 2016 AUDI AG, the BMW Group and Daimler AG have agreed with Nokia Corporation that they will acquire its mapping and location services business 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. Subject to the approval of the relevant antitrust authorities, the transaction is expected to close in the first quarter of 2016. HERE is laying the foundations for the next generation of mobility and location based services. For the automotive industry this is the basis for new assistance systems and ultimately fully autonomous driving. 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. On the basis of the shared raw data, all automobile manufacturers can offer their customers differentiated and brand-specific services. “Our environment is constantly changing. That’s why the information in digital maps has to be continually updated so that maximum utility can be offered,” stated Rupert Stadler, Chairman of the Board of Management of AUDI AG. The high-precision cameras and sensors installed in modern cars are the digital eyes for updating mobility data and maps; in this way, information such as speed limits or critical driving situations are already recognized today. All data gained will be processed in compliance with strict data-protection rules. “HERE will play a key role in the digital revolution of mobility, combining high definition maps and data from vehicles to make travel safer and easier for everyone,” explained Harald Krüger, Chairman of the Board of Management of BMW AG. This knowledge will be to the benefit of all carmakers and their customers. “High-precision digital maps are a crucial component of the mobility of the future. With the joint acquisition of HERE, we want to secure the independence of this central service for all vehicle manufacturers, suppliers and customers in other industries,” stated Dieter Zetsche, Chairman of the Board of Management of Daimler AG. Swarm intelligence will create new information density for road maps "HERE will be able to offer users a continuously improving product, bringing highly automated driving and location based services a step further. As the volume of anonymized data from the vehicles increases, services will become more convenient, more connected and further tailored to the users’ individual requirements,” said Ulrich Hackenberg, Member of the Board of Management of AUDI AG for Technical Development, Klaus Fröhlich, Member of the Board of Management of BMW AG for Development, and Thomas Weber, Member of the Board of Management of Daimler AG for Group Research. It is the explicit intention that all HERE customers are to benefit from this continuous optimization. The social benefits of swarm intelligence are enormous: They facilitate warnings of hazards in real time, of icy roads for example, based on calculations of individual data such as ABS activations and outside temperature. Upcoming traffic jams will be identified more precisely in the future, significantly reducing the risk of accidents. In this way, the vision of accident-free driving is gradually becoming reality. In a further stage, the data could be used to learn about critical bends on the road, in order to warn drivers in good time or to activate assistance systems. Anticipation of green phases of stoplights could navigate vehicles through an urban area on a “green wave” with the appropriate engine performance and minimized fuel consumption. High-precision maps are important for autonomous driving and many other forms of assistance systems, as these technologies require an up-to-date plan of a vehicle’s surroundings exact to the nearest centimeter, in order to react in real time. While HERE already produces extremely precise static maps, they can be verified more exactly and continually updated with a constant flow of data from vehicles’ surroundings. HERE will continue to offer its services and products across industries. HERE provides mapping and location intelligence for nearly 200 countries in more than 50 languages and is one of the main providers of mapping and location services. The company will continue to develop its position as a strong and independent provider of maps and location-based services, will expand its product offering and continue to make it available to all customers across industries. The management of HERE will continue to be independent – with the goal of moving the HERE business case forward as a platform, open to all customers. The consortium will not interfere into operational business. -
Earlier this week saw a big announcement from Volvo. The Swedish automaker has purchased a part of Polestar Performance - the company behind some of the hottest Volvos in recent years. The deal will have Volvo taking in Polestar Performance division and the Polestar trademarks. The racing arm of Polestar was not included in the deal and will go with a new name. Driving a Volvo Polestar is a special experience. We have decided to bring this experience to more Volvo drivers, placing the full resources of Volvo behind the development of Polestar as the model name for our high performance cars," said Håkan Samuelsson, president and chief executive of Volvo Cars in a statement. The two companies have been working together since 1996 - racing in a variety of series from Swedish Touring Cars to V8 Supercars. The past few years have seen the two work on production models with a bit more oomph. Volvo says in their statement that more S60 and V60 Polestar models will be built in the coming year (750 to 1,000-1,500 models). Also, Polestar is beginning to work on building performance-oriented hybrid models. Source: Volvo Press Release is on Page 2 Volvo Cars buys 100 per cent of Polestar Volvo Cars, the premium car maker, has acquired 100 per cent of Polestar, the Swedish high performance car company, including the Polestar brand. Polestar will now be used as the model name for special high performance Volvos. Polestar will also in future utilise Volvo’s twin engine electrification technology to develop next generation performance cars. Volvo is the largest manufacturer of plug in hybrid cars in Europe and leader in advanced vehicle electrification technology. Volvo currently develops and manufactures some of the most powerful, most environmentally-friendly hybrid engines in the automotive industry. Volvo and Polestar share a long history. They have been working in motor sport since 1996 and in recent years signed a cooperation agreement to jointly develop Polestar versions of Volvo cars that combine a comfortable Volvo driving experience with a very high level of power and handling. “Driving a Volvo Polestar is a special experience. We have decided to bring this experience to more Volvo drivers, placing the full resources of Volvo behind the development of Polestar as the model name for our high performance cars,” said Håkan Samuelsson, president and chief executive of Volvo Cars. In 2015, Volvo expects to sell 750 Polestar versions of the V60 wagon and S60 sedan globally. Polestar sales are forecast to increase to between 1,000 and 1,500 cars a year in the medium term under Volvo’s ownership. The Polestar brand is already firmly established internationally through the sale of Polestar-branded Volvos. Volvo will also benefit from the sale of aftermarket Polestar performance optimisation kits for existing Volvos. No financial details of the deal have been disclosed. Existing Polestar Performance employees will become Volvo employees. The Polestar racing team will remain under the control of Christian Dahl, the former owner of Polestar, and will be renamed. The Polestar brand will continue to work alongside Christian Dahl. “We are extremely satisfied with the way the performance business with Volvo has developed. But we are a racing team first and foremost. This is an opportunity to return our full attention to our core business – to develop and race Volvo cars,” said Christian Dahl. View full article
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Earlier this week saw a big announcement from Volvo. The Swedish automaker has purchased a part of Polestar Performance - the company behind some of the hottest Volvos in recent years. The deal will have Volvo taking in Polestar Performance division and the Polestar trademarks. The racing arm of Polestar was not included in the deal and will go with a new name. Driving a Volvo Polestar is a special experience. We have decided to bring this experience to more Volvo drivers, placing the full resources of Volvo behind the development of Polestar as the model name for our high performance cars," said Håkan Samuelsson, president and chief executive of Volvo Cars in a statement. The two companies have been working together since 1996 - racing in a variety of series from Swedish Touring Cars to V8 Supercars. The past few years have seen the two work on production models with a bit more oomph. Volvo says in their statement that more S60 and V60 Polestar models will be built in the coming year (750 to 1,000-1,500 models). Also, Polestar is beginning to work on building performance-oriented hybrid models. Source: Volvo Press Release is on Page 2 Volvo Cars buys 100 per cent of Polestar Volvo Cars, the premium car maker, has acquired 100 per cent of Polestar, the Swedish high performance car company, including the Polestar brand. Polestar will now be used as the model name for special high performance Volvos. Polestar will also in future utilise Volvo’s twin engine electrification technology to develop next generation performance cars. Volvo is the largest manufacturer of plug in hybrid cars in Europe and leader in advanced vehicle electrification technology. Volvo currently develops and manufactures some of the most powerful, most environmentally-friendly hybrid engines in the automotive industry. Volvo and Polestar share a long history. They have been working in motor sport since 1996 and in recent years signed a cooperation agreement to jointly develop Polestar versions of Volvo cars that combine a comfortable Volvo driving experience with a very high level of power and handling. “Driving a Volvo Polestar is a special experience. We have decided to bring this experience to more Volvo drivers, placing the full resources of Volvo behind the development of Polestar as the model name for our high performance cars,” said Håkan Samuelsson, president and chief executive of Volvo Cars. In 2015, Volvo expects to sell 750 Polestar versions of the V60 wagon and S60 sedan globally. Polestar sales are forecast to increase to between 1,000 and 1,500 cars a year in the medium term under Volvo’s ownership. The Polestar brand is already firmly established internationally through the sale of Polestar-branded Volvos. Volvo will also benefit from the sale of aftermarket Polestar performance optimisation kits for existing Volvos. No financial details of the deal have been disclosed. Existing Polestar Performance employees will become Volvo employees. The Polestar racing team will remain under the control of Christian Dahl, the former owner of Polestar, and will be renamed. The Polestar brand will continue to work alongside Christian Dahl. “We are extremely satisfied with the way the performance business with Volvo has developed. But we are a racing team first and foremost. This is an opportunity to return our full attention to our core business – to develop and race Volvo cars,” said Christian Dahl. -
Sooner or later self driving cars are going to come on the market IMO, with some companies like Google already investing in developing them. The million question however is whether people will buy them or not. So, what about you, would you buy one if some manufacturer were selling them already?
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The price for a barrel of oil has nosedived over the past half a year or so, and that has started to be felt at the pump, with petrol and diesel prices being significantly lower than they were a year ago. Will this change drivers' behaviour, steering them toward gas guzzlers again because they'll be so much cheaper to run due to the lower fuel costs?
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By William Maley Staff Writer - CheersandGears.com May 30, 2013 According to Bloomberg, Fiat is reportedly seeking $10 Billion in financing to buy out the remaining 41.5% of Chrysler that is being held by the retiree trust of the United Auto Workers and refinance the two automakers' debt. Fiat has been in talks with a number of banks such as Bank of America Corp., Deutsche Bank AG, and Goldman Sachs Group Inc., to secure financing. Earlier reports said Fiat was seeking around $4 Billion, but that figure has risen considerably. This is most likely due to a court case in Deleware between Fiat and the UAW arguing the total price for the remaining shares. “The merger is the right choice for Marchionne and the only possible option to avoid Fiat being marginalized or bought by a competitor in the medium term. I see it as likely that they will get favorable financing by the end of the summer and then list in the U.S,” said Emanuele Vizzini, chief investment officer of Investitori Sgr in Milan. The cquisition of remaining shares could happen by this summer, but the merging of the two companies isn't likely to happen until till next year. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. -
By William Maley Staff Writer - CheersandGears.com May 30, 2013 According to Bloomberg, Fiat is reportedly seeking $10 Billion in financing to buy out the remaining 41.5% of Chrysler that is being held by the retiree trust of the United Auto Workers and refinance the two automakers' debt. Fiat has been in talks with a number of banks such as Bank of America Corp., Deutsche Bank AG, and Goldman Sachs Group Inc., to secure financing. Earlier reports said Fiat was seeking around $4 Billion, but that figure has risen considerably. This is most likely due to a court case in Deleware between Fiat and the UAW arguing the total price for the remaining shares. “The merger is the right choice for Marchionne and the only possible option to avoid Fiat being marginalized or bought by a competitor in the medium term. I see it as likely that they will get favorable financing by the end of the summer and then list in the U.S,” said Emanuele Vizzini, chief investment officer of Investitori Sgr in Milan. The cquisition of remaining shares could happen by this summer, but the merging of the two companies isn't likely to happen until till next year. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article
