TomTom (TOM2) stock up 6% as it expands development with VW
11:49, 21 December 2021
Volkswagen’s automotive software and technology company CARIAD and geolocation specialist TomTom announced on Tuesday that they are co-developing a best-in-class navigation product for the Volkswagen Group.
A TomTom statement said that the product will combine the company’s expertise in hybrid navigation and traffic services with CARIAD’s competences in user experience and vehicle integration.
“This multi-year deal between TomTom and the Volkswagen Group covers all markets globally excluding China and is the continuation of a successful and long co-operation: TomTom has been a trusted traffic service partner for the Volkswagen Group for many years,” the statement said.
It added that CARIAD, which is working on software and hardware platforms for all Volkswagen Group brands, will develop the navigation interface and user experience, as well as the map visualisation.
“By leveraging the Volkswagen Group’s global fleet size and making use of its data, CARIAD will continuously improve the quality and coverage of the navigation services. By 2030, CARIAD aims to connect up to 40 million vehicles globally to Volkswagen Group’s Automotive Cloud,” TomTom said.
Development of innovative solutions
Francisco Moreno, head of navigation at CARIAD, commented on the deal.
“By partnering with TomTom, we are taking another step towards transforming Volkswagen Group cars into an automotive experience that seamlessly integrates into the driver’s digital life,” said Francisco Moreno, head of navigation at CARIAD. “With TomTom’s trusted support and expertise, backed by the Volkswagen Group’s extensive connected fleet, we will bring many exciting innovations to market that will contribute towards a safer, more time-efficient and intuitive driving experience.”
“Co-development of additional innovative solutions is in progress. The first models to showcase the next-generation navigation technology will be electric, hitting the road in 2023,” Moreno said.
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Moreno added that the models will benefit from much-improved EV range and routing accuracy.
“We are excited to deepen our ties with the Volkswagen Group by co-developing with CARIAD, a leader in the car industry,” Antoine Saucier, managing director at TomTom Automotive said.
“Today marks another milestone in our relationship, as we announce that our state-of-the-art navigation solution will power the Volkswagen Group’s next-generation digital cockpits – from volume to premium car lines – with the promise of greater integration and continuous innovation in the years to come,” Saucier added.