Mobileye teamed up with Here, a digital mapping company, to develop an accurate global map. The digital mapping company is owned by a group of German automakers. The global map soon to be developed can be extremely helpful when it comes to a self-driving car. Some experts argue that these plans may surpass the use of Google Maps. The three German owners of Here are Audi, Mercedez-Benz, and BMW. Volkswagen is known to be Audi’s parent company.
Together, these three automakers purchased the mapping company from Nokia back in August 2015. They paid $3 billion for the digital mapping company. Nokia wasted many years on the development and necessary research on Here. What is more, Nokia has also created this business after several purchases that included about $8.1 billion of Navteq back in 2007.
Here together with Mobileye are bound to connect their self-driving technologies developing an advanced offering meant to lead the industry for automakers. These two companies are required to examine new possible opportunities where their services and products evolve into a complementary way. They are meant to support automotive businesses in promoting their self-driving technology and their mobility strategies.
The stock of Mobileye increased from 9.8% to 38.44, reaching a one-month high and even exceeding the 50-day moving average after its failure on November 11. The stock may have decreased then due to a correction which started in August. The core products of Mobileye are based on the production of software technology and chips. They provide analysis and image processing used in vehicles equipped with systems based on cameras meant to help in assisted driving.
The company represents a part of the auto sector of IBD which was ranked as No. 14 out of 33 other areas. Last July, Mobileye had announced its agreement with BMW and Intel prone to develop technology meant to be used in 2021 in a fleet of autonomous vehicles intended to be introduced by BMW. Intel is supposed to provide a broad set of technologies like artificial intelligence and machine learning.
Every giant company in the car industry, such as Ford, General Motors, and Tesla Motors, has already developed self-driving vehicle programs. The investments are more likely to develop business opportunities but also rivalries for all automakers as well as for numerous tech company partners.
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