U.S. markets closed
  • S&P 500

    3,923.68
    -165.17 (-4.04%)
     
  • Dow 30

    31,490.07
    -1,164.52 (-3.57%)
     
  • Nasdaq

    11,418.15
    -566.37 (-4.73%)
     
  • Russell 2000

    1,774.85
    -65.45 (-3.56%)
     
  • Crude Oil

    108.66
    -0.93 (-0.85%)
     
  • Gold

    1,815.40
    -0.50 (-0.03%)
     
  • Silver

    21.38
    -0.16 (-0.76%)
     
  • EUR/USD

    1.0473
    +0.0008 (+0.07%)
     
  • 10-Yr Bond

    2.8860
    -0.0820 (-2.76%)
     
  • GBP/USD

    1.2350
    +0.0008 (+0.06%)
     
  • USD/JPY

    128.2100
    -0.0870 (-0.07%)
     
  • BTC-USD

    28,889.93
    -1,572.57 (-5.16%)
     
  • CMC Crypto 200

    650.57
    -20.11 (-3.00%)
     
  • FTSE 100

    7,438.09
    -80.26 (-1.07%)
     
  • Nikkei 225

    26,911.20
    +251.45 (+0.94%)
     

EU lawmakers vote for wifi-based standard for connected cars

BRUSSELS, April 17 (Reuters) - EU lawmakers on Wednesday backed a European Commission plan to promote the use of wifi technology in internet-connected cars, a standard which has the support of Europe's largest carmaker Volkswagen.

The EU executive 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.

VOWG, Renault and Toyota are championing wifi-based ITS-G5 technology while Daimler, Ford , Deutsche Telekom, Qualcomm and Samsung are pushing for the rival 5G technology. (Reporting by Foo Yun Chee Editing by Alissa de Carbonnel)