Nokia’s HERE Maps sold to automakers in $3.1B deal

Nokia has sold its HERE Maps mapping service to Audi, BMW and Daimler, CNET reports — a move that could set up the automakers to compete with Apple and Google in the self-driving car arena. It was reported in April that Nokia was looking to sell its maps division, and the company was believed to be courting Apple, among others.

As Apple Maps vans are rushing to map the streets of major metropolitan areas worldwide in an effort to catch up with Google — and fueling speculation about Apple’s long-rumored electric car project —  the automakers have invested $3.1 billion to acquire Nokia’s mapping technology. The deal is expected to help the companies’ vehicles collect real-time updates on traffic, parking and other variables that would make self-driving cars a more efficient means of transportation. With Apple reportedly interested in using BMW’s i3 electric car as a starting point for its own vehicle, the expensive map acquisition may even provide increased leverage for BMW in further negotiations.

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