HERE is a key company owned by a consortium of organizations such as BMW, Audi, and Daimler since December 2015. Its main mission is to bring to the world the first high definition map. This technology will help upgrade the self-driving cars as well as the Internet of Things industries to the next level. Intel has just stepped into the middle of this game by acquiring 15% stake in HERE.
HERE was first started by Nokia Corp. in 2008, but the company sold it to its present consortium of owners in 2015 for a total of $2.6 billion. Since then, BMW, Daimler, and Audi have been working together to implement the best platform for autonomous cars.
Intel has proceeded to enter this circle by purchasing 15% stake from this Netherlands-based company. This transaction is also a ticket to the latest auto technology, namely the high definition maps. The two parties agreed that they would conjoin their efforts to maximize the efficiency of their new project. Moreover, this means that the two sides will collaborate to create a better generation of automated cars. Intel will have access to real-time updates on the development of high definition maps.
HERE is currently working on making self-driving vehicles as predictable and safe as possible. Even though there are already a series of autonomous cars at this hour, the technology is not as precise as consumers need it to be. HERE aims to make an efficient localization possible. Once its project is successfully ended, their high definition maps will be able to trace the location of the vehicle within inches. As it is a prerequisite for an autonomous vehicle to possess a precise digital cartography capability, HERE organization can open the auto market to the safest possible product.
Brian Krzanich, the CEO of Intel, stated that cars are about to become the smartest devices for consumers. They can also proceed further than today only with Internet of Things technology. By making them connected to real world facts, the vehicles of the future will be able to absorb all the necessary information to avoid wasted hours in traffic and accidents. Back in November, the company announced a budget of $250 million as an investment in autonomous vehicle technologies. It is possible that these funds will go to the development of high definition maps at HERE.
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