The publication within the Official Journal of the European Union specified that new automobile fashions ought to use the expertise beginning in July 2022, and that every one automobiles bought ought to have it by 2024.
see imagesTomTom works with automobile producers to offer expertise that helps drivers adhere to hurry limits
Shares of Dutch navigation and mapping firm TomTom closed 9.3% larger on Wednesday, following guidelines revealed by the European Union that automobiles should embody company-supplied expertise beginning in 2022.
TomTom works with automobile producers to offer expertise that helps drivers adhere to hurry limits, referred to as “intelligent speed assist.”
The publication within the Official Journal of the European Union specified that new automobile fashions ought to use the expertise beginning in July 2022, and that every one automobiles bought ought to have it by 2024.
Chief govt Harold Godijn was because of meet with buyers at a convention through the day, though it was unclear whether or not he mentioned the potential monetary advantages to the corporate.
A TomTom spokesperson couldn’t instantly remark. Sebastian Marland, fairness analysis analyst at AFS Group, mentioned he believed the information was the explanation for the inventory’s rally.
“This creates a momentous opportunity for TomTom as it provides the technology needed to ‘add-ons’ cars,” he mentioned.
However, “from 2024 onwards, all cars in the EU will have to install it, making TomTom’s technology redundant in the long term.”
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The inventory closed at 7.92 euros in Amsterdam.
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With inputs from NDTV
