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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

Audi-only rental car company expands

With the lines and occasional hassle, getting a rental car after a long flight can be daunting, even if you already have a reservation. Now, a company called Silvercar is trying to inject some luxury and modern, high-tech features into the process to make it less of a chore. The business recently expanded to O'Hare International Airport to offer visitors to Chicago a fleet exclusively comprised of silver Audi A4s. Silvercar is based in Austin, TX, and is being run by Luke Schneider, a former chief technology officer at ZipCar. He told Crain's Chicago Business that the rental industry "hasn't innovated in 30 to 40 years." Silvercar's big innovation is in the booking process. Like ordering practically anything today, it's all done through a smartphone app. Customers then scan a QR code on the Audi's windshield to get going. At the end of the rental, the bill is emailed to you. Prices start around $59 a day on weekends and $89 during the week, according to Crain's. Because they're all A4s with GPS and Wi-Fi, everyone gets the same car. In the world of ridesharing companies like Uber and Lyft, rental cars might seem passe, but according to Crain's, the rental market at O'Hare alone amounts to over $300 million a year. Silvercar's location there isn't at the actual airport, though. Instead, a shuttle picks up customers to take them to the company's site nearby. The business is working on a national rollout to 10 airports by the end of June, including major locations like LAX and Denver. Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience.

Audi scores first CA autonomous car permit

Audi apparently knows how to get to the front of a line when it comes to driverless vehicles. The German automaker had the honor of being the very first company to receive one of California's new autonomous vehicle driving permits. It was a perfect followup to it being among the earliest ones to get a similar permit in Nevada a few years ago.
Getting the California permit is a big deal for the automaker because the state is also home to Audi's Electronics Research Lab. Among its current projects, Audi is working on the human-machine interface to communicate whether the person or vehicle is actually controlling the driving. All of this hard work is building toward offering autonomous motoring in freeway conditions in the next five years, Audi claims.
Obviously, autonomous vehicles from companies like Google have been testing in California for a while, but the new permits are meant to safeguard public safety when testing the driverless cars in public. The new rules include things like always having a person able to take control and more stringent standards like registering each autonomous car and the eligible drivers with the state. Any models testing on public roads also have to carry at least $5 million in insurance in case of injury, death or property damage.