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CARIAD and TomTom Co-Develop Volkswagen Group's Next-Gen Navigation

12/21/2021 | 01:31am EDT
  • TomTom to provide latest hybrid online/offline navigation technology and industry-leading traffic service as part of multi-year agreement with the Volkswagen Group
  • Continuous integration and innovation are central to the long-term partnership
  • First models from Volkswagen Group brands showcasing the next generation navigation product co-developed by CARIAD and TomTom will hit the road in 2023

AMSTERDAM, The Netherlands and WOLFSBURG and INGOLSTADT, Germany, Dec. 21, 2021 (GLOBE NEWSWIRE) -- Volkswagen’s automotive software and technology company CARIAD and the geolocation technology specialist TomTom (TOM2) today announced that they are co-developing a best-in-class navigation product for the Volkswagen Group. The innovative product will combine TomTom’s expertise in hybrid navigation and industry-leading traffic services, with CARIAD’s competences in premium 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 cooperation: TomTom has been a trusted traffic service partner for the Volkswagen Group for many years.

CARIAD, which is working on software and hardware platforms for all Volkswagen Group brands, will develop the navigation UI/UX as well as the map visualization, creating a unique navigation experience for the customers of Volkswagen Group brands. Volkswagen’s new software house aims to integrate the navigation tightly into its vehicle platforms providing a seamless operation across infotainment and the most advanced driver assistance systems. 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 has developed a unique navigation solution that will integrate flawlessly into the Volkswagen Group’s digital cockpits, delivering frequent over-the-air updates. TomTom’s state-of-the-art cloud-native navigation solution takes advantage of super-fast up-to-date routing and real-time traffic information, to deliver the best guidance and most accurate estimated times of arrival. When no data connection is available, the solution switches to its onboard software, making it available under all circumstances.

“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. These models will benefit from EV range and routing accuracy that is far more precise than anything available today. The development of other pioneering features including lane level navigation and lane dependent traffic as well as a more advanced and personalized EV experience are also underway as part of this cycle of continuous innovation.

"We are excited to deepen our ties with the Volkswagen Group by co-developing with CARIAD, a leader in the car industry,” said Antoine Saucier, Managing Director, TomTom Automotive. “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.”

This press release is published by TomTom N.V. and contains inside information within the meaning of article 7 (1) to (4) of the Market Abuse Regulation (Regulation (EU) No 596/2014)

About CARIAD
CARIAD is an automotive software company in the Volkswagen Group that is consolidating and further expanding the Group's software competencies to transform automotive mobility. The company is developing the leading tech stack for the automotive industry with the mission to make the automotive experience safer, more sustainable and more comfortable in a new way – for everyone, everywhere. Established in 2020 under the name Car.Software Organisation, around 4,500 engineers and developers around the world are now working at CARIAD to build a uniform software platform for all brands of Volkswagen Group, which includes a unified and scalable architecture, an operating system and automotive cloud. The new software platform will first be deployed at the end of 2025. In addition, CARIAD is working on outstanding digital automotive features, including ADAS systems, a standardized infotainment platform, software functions for linking powertrains, and chassis and charging technology, as well as new ecosystems and digital business models in and around the vehicle. CARIAD operates in software competence centers in Wolfsburg, Ingolstadt, the area of Stuttgart, Berlin and Munich, and is closely co-operating with international development teams in the Volkswagen Group in the US and China. Find out more: https://cariad.technology

About TomTom
At TomTom we’re mapmakers, providing geolocation technology for drivers, carmakers, enterprises and developers.

Our highly accurate maps, navigation software, real-time traffic information and APIs enable smart mobility on a global scale, making the roads safer, the drive easier and the air cleaner.

Headquartered in Amsterdam with offices in 30 countries, TomTom’s technologies are trusted by hundreds of millions of drivers, businesses and governments worldwide.

www.tomtom.com

For further Information:

Media TomTom:
tomtom.pr@tomtom.com

Investor Relations TomTom:
ir@tomtom.com 

Media CARIAD:
media@cariad.technology

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/60d0c0d1-54a2-4d8b-a19e-e0e00c3abf42

https://www.globenewswire.com/NewsRoom/AttachmentNg/dd54682e-23ba-48b6-b7c7-bad0d083fd3d


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CARIAD and TomTom Co-Develop Volkswagen Group’s Next-Gen Navigation 1

CARIAD and TomTom Co-Develop Volkswagen Group’s Next-Gen Navigation
CARIAD and TomTom Co-Develop Volkswagen Group’s Next-Gen Navigation 2

CARIAD and TomTom Co-Develop Volkswagen Group’s Next-Gen Navigation

ę GlobeNewswire 2021
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Sales 2022 522 M 543 M 543 M
Net income 2022 -62,9 M -65,4 M -65,4 M
Net cash 2022 274 M 285 M 285 M
P/E ratio 2022 -13,7x
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Capitalization 1 030 M 1 072 M 1 072 M
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EV / Sales 2023 1,29x
Nbr of Employees 4 424
Free-Float 46,0%
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