Mitsubishi, NTT to buy 30per cent stake in digital mapping company HERE

📆 12/20/2019 8:13 AM
📰 ChannelNewsAsia

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Digital mapping company HERE Technologies sold a 30per cent stake to Mitsubishi Corp and Nippon Telegraph and Telephone Corp (NTT) , diluting ...

REUTERS: Digital mapping company HERE Technologies sold a 30per cent stake to Mitsubishi Corp and Nippon Telegraph and Telephone Corp , diluting German carmakers' stake to 54per cent amid uncertainty about the profit potential from autonomous cars.

High definition maps can also be used in fleet management, asset tracking, last-mile delivery, long-distance package delivery by drones and indoor mapping applications, Overbeek told Reuters.AdvertisementGerman carmakers BMW , Audi and Daimler saw high definition mapping as a strategic asset and bought HERE from Finnish telecoms group Nokia for around 2.5 billion euros in 2015 to avoid becoming dependent on Alphabet's Google .

"There has been a reality check setting in here," Daimler Chief Executive Ola Kaellenius said last month, adding that spending on robotaxis would be"rightsized."

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