Here's Why Automakers Want to Buy Nokia's Mapping Service

By Markets Fool.com

It's no surprise that automakers are continually outpaced by the tech industry. Automotive companies plan, design, and build cars on a several-year time frame -- which is a lifetime in the tech world.Theproliferation of smartphone navigation -- driven by Google Maps -- has taken in-car navigation out of the hands of car companies and given all the control to the tech industry.

Continue Reading Below

And that's got carmakers worried. As semi-autonomous and autonomous cars become the norm, automakers want to ensure that they don't lose control over how their vehicles move around. That's why, according to a recent Wall Street Journalarticle, a group of automakers is looking to buy Nokia's HERE maps business. Click through the slideshow belowto find out more about the car companies' plans.

The article Here's Why Automakers Want to Buy Nokia's Mapping Service originally appeared on Fool.com.

Chris Neiger has no position in any stocks mentioned. The Motley Fool both recommends and owns shares of Apple, Google (A shares), and Google (C shares). Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.