Continental to acquire 5% stake in HERE Technologies

Continental has signed an agreement to acquire a 5% stake in the mapping and location services provider HERE Technologies. The tyre manufacturer will be acquiring shares from Audi AG, Daimler AG and the BMW Group.

In addition to this, Continental will also sign a collaboration agreement with HERE to develop new technologies that provide reliable and accurate data for the efficient transportation of people as well as goods. The companies will provide support to the automotive and mobility sectors.

Both companies will focus on developing systems that make use of HERE HD Live Map, map for automated vehicles and cloud connectivity to build new applications for vehicle automation and mobility services, while also dynamically maintaining and updating high-definition maps. The companies also intend to create more precise advanced driver assistance systems.