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Technology Stocks : NVT - Source of GPS Software, Data, and Maps

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From: JakeStraw7/25/2007 11:22:00 AM
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NAVTEQ Chosen as the Preferred Supplier for Korean-based Hyundai-Kia Automotive Group
Wednesday July 25, 10:46 am ET

In-Vehicle Navigation Introduced in North America and Europe

CHICAGO, July 25 /PRNewswire-FirstCall/ -- NAVTEQ (NYSE: NVT), a leading global supplier of digital map data for vehicle navigation and location-based solutions, today announced its selection as the preferred map provider for the Hyundai-Kia Automotive Group. NAVTEQ was chosen as the preferred supplier based on its high-quality map data, single specification, extensive marketing support programs, and collaboration Mando Map and Software (MMS), an affiliate of the Hyundai-Kia Automotive Group.

As early as this year, NAVTEQ will provide maps for a variety of new Hyundai and Kia vehicle models in the United States, Canada, and Eastern and Western Europe. Critical to NAVTEQ's selection as preferred map provider, was an extensive series of tests conducted by Hyundai that confirmed the quality of NAVTEQ® map data.
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