Intel (NASDAQ:INTC) is seeking out a larger hold on the self-driving car industry. The technology company have announced that they will be purchasing a 15% stake in HERE, a mapping company, to aid in the development of autonomous positioning systems used in driver-less motors.
HERE was sold in August 2015 to Daimler, Audi and BMW for $3.1 billion. The luxury automakers are trying to keep the leading map data of their rival’s hands. Companies such as Facebook (NASDAQ:FB), Google (NASDAQ:GOOGL), Apple (NASDAQ:AAPL) and Alibaba (NYSE:BABA) all want a piece of the autonomous car industry.
It is clear that there are big plans for HERE. The strategies laid out for the mapping systems range from the electric power to the transport industry. HERE’s abilities stretch further than just autonomous diving. The technical mogul intend to dive into mobility services such as ride-sharing and business to business (B2B) applications.
HERE possess highly precise maps which help diver-less cars locate their surroundings within a 10 centimeter accuracy. In a joint statement on Tuesday, Intel and HERE announced that they will focus on “maps for highly and fully automated driving.”
Intel reached highs of 36.93 yesterday. The company are due to release their earnings on January 12th. The estimation is that there will be an increase of $0.01 from last year’s price of 75.