Apr 20, 2017

BMW profits boosted by Intel map investment

The German car giant reported pre-tax profits of 3bn euros, a 27% jump from the same period in 2016. BMW said the value of the stake in Here had risen by 183m euros. The car manufacturer also cited improved earnings from its Chinese joint venture, BMW Brilliance Automotive, for its higher profits. The US chip giant Intel said in January it would buy 15% of Here, which is co-owned by Audi, BMW and Daimler. Here develops technology that feeds mapping information to autonomous and semi-autonomous cars.

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