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Mercedes and VW battling Uber and Apple to spend billions on Nokia mapping division

Whether for autonomous driving or simply better navigation, digital mapping is closely linked with the future of motoring. The sale of a major player in that industry is spurring a showdown between automotive behemoths and tech giants, and it's a fascinating battle to watch unfold. Nokia is selling its Here mapping division, and while the company might not have the name recognition of Google, it controls about 70 percent of the auto market. The business is valued at $785 million, according to Reuters, but is likely to sell for significantly more. Case in point: Uber reportedly submitted a $3 billion bid. Apple has also been rumored to be among those interested in purchasing Here. A trio of German automotive heavyweights is mounting a challenge to Silicon Valley, though. According to Reuters speaking to two unnamed insiders, Daimler, BMW, and Audi are teaming up to submit a joint bid for an undisclosed sum. They're worried that if Here falls under the control of tech companies, then automakers might have limited availability to these vital maps in the future. Nokia bought Here for $8.1 billion in 2007, according to Reuters. The company operates a fleet of vehicles with cameras and LIDAR that drive around the world to create high-definition maps. It also generates even more information by using the GPS data from shipping and trucking companies.

Lexus GX and TX, and Volvo EX30 revealed | Autoblog Podcast # 784

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd. They've been driving the Mercedes-Benz GLB Class, as well as the Kia EV6 and EV6 GT. In the news, the new Lexus GX and TX SUVs have been revealed, Ram previewed its compact Rampage truck, Chevy has a Panther-inspired Camaro Collector's Edition, and Volvo unveiled is EX30 city EV. Our hosts take to Reddit for car recommendations, and to the Mailbag for beer tips. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast # 784 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2023 Mercedes-Benz GLB Kia EV6 vs. EV6 GT 2024 Lexus GX revealed 2024 Lexus TX revealed Ram Rampage is a 1500-like unibody truck for Latin America 2024 Chevy Camaro Collector's Edition pays tribute to Panther code name 2025 Volvo EX30 revealed Spend my Money Mailbag Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video:

Geely and Mercedes-Benz invest $780 million to make electric Smart cars

BEIJING/SHANGHAI — Zhejiang Geely and Mercedes-Benz on Wednesday said they would each invest $388.77 million (2.7 billion yuan) in a China-based venture to build "premium and intelligent electrified" vehicles under the Smart brand. The 50:50 venture has received regulatory approval and will be based in the Chinese coastal city of Ningbo, the Chinese and German automakers said in a statement. Like Mercedes-Benz, smart is a Daimler marque. The venture will have manufacturing capacity in China and sales operations in China and Germany, the automakers said. Geely will lead in engineering the cars while Mercedes-Benz will take charge of their overall look, they said. The partners will each have three executives on the board of directors, with Geely's Tong Xiangbei becoming the venture's global chief executive. Geely has expanded rapidly through mergers and acquisitions since buying Sweden's Volvo in 2010 from U.S. parent Ford. In 2018, it built a stake of almost 9.7% in Daimler and set up a ride-hailing venture in China with the Stuttgart-based carmaker. Its latest announcement comes just over a month after China's Great Wall and Germany's BMW formed a venture to build electric Mini-branded cars in China, the world's biggest market for electrified vehicles where demand for smaller EVs is on the rise. Related Video: