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TomTom NV, a Dutch digital mapping business, announced on Tuesday that it will expand its supply agreement with Volkswagen (DE: VOWG p), integrating its mapping and navigation technology into Volkwagen’s vehicles, including electrified vehicles.
“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 said.
TomTom’s technology will be integrated into the user interface of Volkswagen vehicles as part of the agreement, the specifics of which were not disclosed. On Monday, TomTom shares closed at 8.265 euros.
Story by : Norvisi Mawunyegah