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Mitsubishi and NTT to buy 30% stake in HERE digital mapping company

Digital mapping company HERE Technologies sold a 30% stake to Mitsubishi and Nippon Telegraph and Telephone Corp (NTT), diluting German carmakers’ stake to 54% amid uncertainty about the profit potential from autonomous cars. Mitsubishi and NTT will co-invest in the Amsterdam-headquartered company through their newly established, jointly owned holding firm COCO Tech Holding B.V. in the Netherlands, HERE said on Friday. “Their investment also means we are further diversifying our shareholder base beyond automotive, which is important given the appeal and necessity of location technology across geographies and industries,” HEREÂ’s Chief Executive Edzard Overbeek said. The Japanese companies said they would collaborate with HERE to develop services such as ways to tackle road congestion and improve supply chain efficiencies. High definition maps can also be used in fleet management, asset tracking, last-mile delivery, long-distance package delivery by drones and indoor mapping applications, Overbeek told Reuters. Financial details of the transaction, which they said would close next year, were not disclosed. German carmakers BMW, Audi and Daimler saw high definition mapping as a strategic asset and bought HERE from Finnish telecoms group Nokia for around 2.5 billion euros ($2.8 billion) in 2015 to avoid becoming dependent on AlphabetÂ’s Google. FridayÂ’s deal dilutes the stake held by each German carmaker from 25% to just under 18%, HERE said. REALITY CHECK Tech companies and automakers raced to develop self-driving vehicles after Google presented a prototype car in 2012, leading German manufacturers to develop robotaxis as a way to enter the ride-hailing business to take on Uber. However, the technology costs and regulatory hurdles have spiraled, and ride-hailing businesses have struggled to reach sustainable profitability, leading to a reassessment of the business potential of robotaxis and ride hailing. “There has been a reality check setting in here,” Daimler Chief Executive Ola Kaellenius said last month, adding that spending on robotaxis would be “rightsized.” The move comes as BMW and Daimler this week announced they will exit the North American car-sharing market, halting operations in Montreal, New York, Seattle, Washington D.C., and Vancouver, as they focus on the European market. Last year, GermanyÂ’s Continental and Bosch, the worldÂ’s largest automotive suppliers, bought a 5% stake in HERE.

Jeep Wrangler 4xe, new Honda Civic and EV infrastructure | Autoblog Podcast #677

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and Yahoo Finance Senior Producer/Reporter Pras Subramanian. They start things off by talking about what they've been driving, including the Jeep Wrangler 4xe, Chevy Bolt EUV, Nissan 370Z Nismo and Mitsubishi Eclipse Cross. They discuss the reveal of the next-generation Honda Civic, opine about the Mercedes-AMG One hybrid supercar, talk about EV charging infrastructure and reminisce about the Hyundai Genesis Coupe. Finally, they reach into the mailbag to help a listener pick a used grand tourer. Autoblog Podcast #677 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving:2021 Jeep Wrangler 4xe 2022 Chevrolet Bolt EUV 2020 Nissan 370Z Nismo 2022 Mitsubishi Eclipse Cross News 2022 Honda Civic revealed Mercedes-AMG One spy photos Green infrastructure Why the gas stations of the future might not include EV chargers — yet Ultium Charge 360 Used Vehicle Spotlight: 2010-2016 Hyundai Genesis Coupe  Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes 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:

James May was hospitalized after Mitsubishi Lancer Evolution crash

British auto journalist and TV host James May was reportedly whisked to the hospital after a crash during filming of The Grand Tour. The presenter was said to have been driving a yellow Mitsubishi Lancer Evolution VIII at 75 mph when he crashed into a tunnel wall.  Fortunately, The Sun reports that May, 59, broke a rib during the crash and required x-rays and a brain scan before being released from the hospital in mostly good health. This was not always the case with the former BBC Top Gear hosts. Famously, Richard Hammond received severe injuries from a 2006 crash at 280 mph in a drag racer. Hammond was also involved in a fiery crash of a Rimac One in 2017, but walked away mostly uninjured.  The details of the crash are a bit vague, but apparently it involved a challenge where May was supposed to drive the Evo down a long tunnel at a naval base in Norway. The Sun describes the stunt as taking place in the pitch black passage, with lights only illuminating as the car drove by. With mere seconds to react, May was unable to brake in time from 75 mph and slammed the Evo into a wall. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The segment apparently involved May, Hammond, and Jeremy Clarkson taking AWD sedans to the Arctic Circle. Two other cars have been posted to social media by Clarkson himself and by fans, as discovered by Motor 1. Those cars are a Subaru Impreza WRX STI and an Audi RS4. After the Evo's destruction, the Subaru and Audi continued on without it. The cars were driving in Norway six months ago, but May's hospitalization is only now coming to light.  Thankfully Captain Slow, as May is nicknamed, is alright. As for the state of the increasingly endangered Evo, however, we'll just have to wait until the next season of Grand Tour airs.