TomTom N.V. (OTC:TMOAF) and Uber Technologies Inc. (NYSE:UBER) on Tuesday announced the renewal of their partnership to enhance Uber's routing and location services across its global ride-hailing and delivery operations.
Uber will continue to integrate TomTom’s maps, APIs, and live services to improve routing, fare estimates, and pickup and drop-off accuracy. The companies said the upgrades are designed for challenging environments, such as airports, transit hubs, and stadium districts.
Better location data can reduce wrong turns, decrease rider wait times, and minimize driver downtime. Uber also expects to see improved operational efficiency as its platform handles high-volume demand in densely populated areas.
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TomTom updates its mapping platform using billions of inputs from thousands of sources. Uber trip data also feeds back into TomTom’s maps, helping refresh road changes, closures, and turning restrictions faster.
The renewed mapping deal arrives as Uber explores additional future-mobility projects. The company has also partnered with Lucid Group Inc. (NASDAQ:LCID) on autonomous ride concepts, described in a recent collaboration announcement.
“Accurate mapping is key to delivering a fast and intuitive experience across our mobility and delivery platforms,” said Amit Fulay, Vice President of Product at Uber. Mike Schoofs, Chief Revenue Officer at TomTom, stated that the expanded partnership enables the delivery of fresher, more precise location data.
UBER Price Action: Uber Technologies shares were up 1.56% at $82.00 during premarket trading on Tuesday, according to Benzinga Pro data.
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