Here's Why Automakers Want to Buy Nokia's Mapping Service

Here's Why Automakers Want to Buy Nokia's Mapping Service from The Motley Fool

1. 1. Here's Why Automakers Want to Buy Nokia's Mapping Service
2. 2. Automakers want back in the navigation game.
3. 3. The Wall Street Journal reported last week that Audi, BMW and Daimler are nearing a deal to buy Nokia’s HERE mapping service.
4. 4. Though the deal hasn’t been finalized yet, the car companies are expected to pay about $2.7 billion for Nokia’s maps. Source: WSJ.
5. 5. The rise of Google Maps and Apple Maps has overtaken the car industry’s control over navigation.
6. 6. And it’s only getting worse.
7. 7. Earlier this month, Uber bought part of Microsoft’s Bing Maps for its on- demand driving service.
8. 8. Automakers are worried they’ll soon be too reliant on tech companies for mapping services.
9. 9. As semi-autonomous and autonomous cars become more prevalent, automakers want to be the ones directing how vehicles get around.
10. 10. So they’re looking to Nokia’s HERE maps to make that happen.
11. 11. If the bid goes through, the current group of automakers would likely open up the deal to other carmakers.
12. 12. That would pit the tech companies against the automotive companies in a fight for in-car navigation control.
13. 13. It won’t be an easy battle for carmakers.
14. 14. But buying Nokia’s maps is the first step to securing more control over autonomous cars.
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