Nokia sells map techology to car makers

Rumours are swirling that Nokia has sold its HERE map technology to a consortium of car makers that includes BMW, Volkswagen and Daimler for US$2.7 billion, but there has been no official announcement from the multinational as yet.

The last release on the subject dates back to April this year, when the company announced it was initiating a review of strategic options for the business, including a potential divestment. Nokia purchased NAVTEQ technology back in 2007 for more than US$8 billion and rebranded it as HERE.

In July this year, the company said it was making making high-definition (HD) mapping data of sections of public roads in four countries (the United States, France, Germany and Japan) available to all automotive companies to support their highly automated vehicle initiatives.

Potential buyers of HERE technology that were bandied about included Facebook, Uber and Alibaba, among others. The original asking price is believed to be US$4.0 billion.

According to reports, the German consortium will offer the platform to other car manufacturers, allowing them to use the mapping service for free, without licensing issues.