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Audi, BMW, Daimler buy Nokia's Here digital mapping business

The fight for control of Nokia's Here digital mapping service appears to have drawn to a close as a consortium of German automakers has announced a deal to jointly acquire the business from the Finnish telecom giant. As anticipated, ownership in Here will now be taken over jointly by Audi, BMW, and Daimler, beating out reported rivals bids from the likes of Apple and Uber. Here is one of the largest and most advanced digital mapping and location systems. It started out in Chicago in 1986 as Navteq before Nokia acquired it in 2007, and is now slated to change ownership again. The cloud-based service maintains high-definition digital maps for nearly 200 countries and supports over 50 languages, gathering data from users to update the data continuously. Rather than transition the service into their own proprietary technology, however, the automakers insist that it will remain open "to all customers from the automotive industry and other sectors." Ownership will be shared equally between the three companies, with "none of them seek[ing] to acquire a majority interest" in Here. For another, Here's management is promised to remain independent, and "the consortium will not interfere into operational business." Though the purchase price has not been disclosed, it is rumored to be worth in the neighborhood of $2.7 billion. Assuming it passes regulatory approval, the acquisition is slated to be completed in the first quarter of next year. The German automakers anticipate implementing the service to provide connected vehicles with accurate, up-to-date information on road and other conditions. Examples it outlines include warning other drivers of icy conditions based on outside temperature and ABS activation. It could also warn drivers of impending traffic jams, or even guide traffic through green lights in an urban environment. In the future, the highly detailed maps are envisioned to enable fully automated driving as well. Related Video: AUDI AG, BMW Group and Daimler AG agree with Nokia Corporation on joint acquisition of HERE digital mapping business Ingolstadt, Munich, Stuttgart, Aug 03, 2015 - Acquisition will secure and strengthen HERE as an independent company serving customers from all industries - Real-time maps and location based services will be the basis for the mobility of tomorrow - Transaction expected to close in first quarter 2016 Ingolstadt, Munich, Stuttgart – August 3rd, 2015.

Maybach lost upwards of $500k on each vehicle sold

Daimler is shuttering Maybach in 2013 after seven years of production. In that time, the company's ultra-ultra-luxury arm managed to sell just 3,000 units, and CAR reports Daimler lost somewhere around $500,000 on each and every one of them.
Even with a ludicrous price tag of over $370,000 for an "entry" Maybach 57, the brand couldn't quite recoup the dizzying $1.33 billion Daimler poured into it since its (re)inception. Rumors ignited over a possible tie up with Aston Martin that would have resulted in a range of new and attractive models, but Daimler has instead decided to snuff out Maybach altogether.
We can hardly blame them.

Mercedes-AMG previews new C63 Coupe ahead of August 19 reveal

Mercedes has been spending the month of July preparing us all of the debut of the new AMG-fettled C-Class coupe. It dropped an enigmatic teaser video on us at the beginning of the month, followed by a handful of teaser images, and another video after that. Now it's released another batch of images to give us a taste of what to expect. These prototype pictured is still heavily camouflaged, so there's little more to tell from them than we already saw from the spy shots we brought you back in April. We can see the front end a bit better, bearing what looks like the same lower air dam as the C63 sedan, but everything save for the front part of the greenhouse is covered up in the swirly stuff. While the photos posted on the Mercedes-Benz Facebook page refer to this as the C63 Coupe, the AMG post references the Mercedes-AMG C-Class Coupe. Either way, we're expecting it to pack the same 4.0-liter twin-turbo V8 as the sedan (as well as the AMG GT), likely to be made available once again in 469- and 503-horsepower states of tune. Affalterbach has also posted a countdown timer on its website, with 23 days left to go until the new muscle coupe makes its debut. So mark your calendars for August 19, and watch this space for more as the German automaker is sure to keep trickling out more photos, videos, and information between now and then. Related Video: