Continental & Bosch buy minority stakes in digital map firm HERE.

Continental and Bosch, the world’s largest automotive suppliers, have each bought a 5 percent stake in digital mapping firm HERE, as the industry pools resources with major carmakers to develop self-driving cars. Financial terms were not disclosed. “Bosch is more than cars,” says Dr. Volkmar Denner, chairman of the board of management of Robert Bosch GmbH. “Industry 4.0, smart homes, and smart cities are rapidly growing areas of business for us, in which establishing and expanding data-based services will result in synergies with HERE.” “Digital maps and location-based services are key innovations for the future of connected mobility. By leveraging HERE’s technology, we look forward to generating further profitable growth in mobility services and automated driving,” said Dr. Elmar Degenhart, Continental CEO.