HERE welcomes Pioneer as new shareholder; HERE to invest in Pioneer

HERE Technologies (“HERE”) and Pioneer Corporation (“Pioneer”) have announced a capital alliance that will result in each company becoming a shareholder in the other. The capital alliance is intended to solidify the strategic collaboration between HERE, Pioneer and Pioneer’s mapping subsidiary Increment P Corporation, as outlined in previous communication. The aim of their partnership is to support innovations in the areas of in-vehicle infotainment and autonomous driving, as well as other industries where location intelligence can be applied. The partnership also enables HERE to offer map coverage of Japan to its customers. Through their mutual capital investment, HERE and Pioneer will use the same subscription price to purchase shares to ensure equal investment from each company. Upon completion, Pioneer will join AUDI AG, BMW Group, Daimler AG and Intel as shareholders in HERE.

www.here.com

www.pioneer.jp/en