Maps for autonomous driving
Measuring the world with millimeter precision is an expensive undertaking.
(Photo: Corbis/Getty Images)
High-resolution road maps are regarded as a key component so that one day cars will be able to handle city traffic completely autonomously. The German premium car manufacturers Audi, BMW and Mercedes-Benz therefore bought a majority stake in the Here Technologies map service a few years ago. The suppliers Continental and Bosch are now also involved.
But measuring the world with millimeter precision is an expensive undertaking – and in view of the ongoing losses, the German car manufacturers sometimes have to step in to provide Here with sufficient liquidity. In the first half of the year alone, Audi, BMW and Mercedes transferred a total of 354 million euros to the ailing card subsidiary via their holding company There Holding, according to Handelsblatt information.
Of this, 91 million euros are used to strengthen equity and the rest to pay off a loan that Here was unable to repay on its own.
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