Panasonic, Mitsui Sumitomo and NEC all booked exits after Honda's R&D unit acquired connected driving assistant technology developer Drivemode.

Drivemode, a US-based connected driving assistant technology developer backed by corporates Panasonic, Mitsui Sumitomo Insurance and NEC, has been acquired by the R&D division of carmaker Honda, The Bridge reported yesterday. Honda paid an undisclosed sum and is Drivemode’s sole shareholder following the transaction. Founded in 2014, Drivemode develops products which give motorists the ability…

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