UPDATE 1-EU nations vote against a wifi-based car standard - EU official [Reuters]
Ericsson - American Depositary Shares each representing 1 underlying Class B share (ERIC)
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Source: Reuters
UPDATE 1-EU nations vote against a wifi-based car standard - EU official - Reuters 2 Min Read (Adds background) BRUSSELS, July 4 (Reuters) - European Union nations on Thursday voted against the EU executive’s proposal for a wifi-based car standard in a blow to its backer Volkswagen , an EU official said. Twenty one countries - including Germany, France and Italy which have powerful auto industries - voted against the proposal at a meeting of EU representatives in Brussels of the bloc’s 28 member states, the official said. EU lawmakers in April endorsed the wifi plan over 5G technology promoted by BMW and Qualcomm. The executive European Commision wants to set benchmarks for internet connected cars, a market that could generate billions of euros in revenues for carmakers, telecoms operators and equipment makers, according to analysts. The issue has split the auto and tech industries and triggered fierce lobbying from both sides seeking a share of a potentially lucrative market. Wifi te
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