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Daimler, BMW, Audi consortium nabs Nokia maps for $2.72B

A consortium of German automakers made up of Daimler, BMW, and Audi has reportedly banded together to buy Nokia's Here mapping division for the equivalent of about $2.7 billion. The particulars of the deal aren't yet official but could be announced at the end of July. Reuters claims that this info comes from anonymous insiders speaking to Manager Magazin in Germany. It might be too soon, however, to declare a buyer. Reuters also spoke to two other insiders, and they said that no deal has been completed yet. None of the firms involved has officially spoken about the negotiations. Some of the other bidders for the division have reportedly bowed out. Here is a high-definition digital mapping company that controls about 70 percent of the auto market. The company has a fleet of vehicles with cameras and LIDAR (pictured above) to generate all of the necessary information. It also partners with trucking companies to use their GPS data. Nokia started looking for potential buyers for Here earlier this year. Tech giants that reportedly included Uber and Apple were rumored to be interested, while German automakers also teamed up to submit a joint bid in part to protect their access to the maps. On paper, Here is only valued at around $785 million, but a sale in the billions now seems assured. Related Video: News Source: ReutersImage Credit: Nokia Here Earnings/Financials Audi BMW Technology here nokia here

Germany says nein to EU ban on new fossil-fuel cars from 2035

BERLIN (Reuters) - Germany's government will not agree to European Union plans to effectively ban the sale of new cars with combustion engines from 2035, Finance Minister Christian Lindner said on Tuesday. In its bid to cut planet-warming emissions by 55% by 2030 from 1990 levels, the European Commission has proposed a 100% reduction in CO2 emissions from new cars by 2035. That means it would be impossible to sell combustion engine cars from then. European Parliament lawmakers backed the proposals this month, before negotiations with EU countries on the final law take place. Speaking at an event hosted by Germany's BDI industry association, Lindner said there would continue to be niches for combustion engines so a ban was wrong and said the government would not agree to this European legislation. Lindner, a member of the pro-business Free Democrats, which shares power with the Social Democrats and Greens, said Germany would still be a leading market for electric vehicles. (Reporting by Christian Kraemer; Writing by Madeline Chambers; Editing by Miranda Murray and Edmund Blair) Green Government/Legal Green Audi BMW Mercedes-Benz Volkswagen Opel SEAT Skoda

Audi execs mulling turbocharged, entry-level R8

The just-launched, second-generation Audi R8 is apparently a pretty fantastic example of Vorsprung durch Technik. While it's sublime to drive, Audi might already be missing some potential sales due to the lack of an true entry-level version in the supercar's lineup. Lending further credence to an earlier rumor about just such a model, company execs are saying to expect an entry-level, turbocharged R8 to launch in the coming years. "It is inevitable that we will go to a turbocharged motor for it at some point," Audi technical development board member Dr. Ulrich Hackenberg said to Motoring. "It would be in this model cycle, to give us a fuller range." The executive certainly isn't mincing words about forced induction, but the V10's position in the lineup is also secure. "It doesn't mean we are not going to do a turbo, but naturally aspirated is here to stay as well," he said. If Dr. Hackenberg's direct assertion isn't enough, Quattro GmbH chief Heinz Peter Hollerweger further clarified to Motoring that the turbocharged engine would slot into the bottom of the R8's range. An unnamed "senior sales and marketing source" within the Audi also said that the company's turbo five-cylinder was among the currently favored choices for the application. The first rumors about the R8 getting a forced induction version arose just a few months ago. At the time, Audi's electrically turbocharged, 2.5-liter inline five-cylinder was considered an option. The model would solve a problem in markets, like China, that severely tax big displacement engines. Customers might not even need to worry about giving up too much performance either. In the Audi TT Clubsport Turbo concept, the powerplant has a total output of 600 horsepower and 479 pound-feet of torque. While 10 fewer ponies than the latest R8 V10 Plus, it would bring 66 lb-ft more twist to the supercar.