XM Reaches Accord With Saab, Opens NASDAQ Trading And Offers Traffic Data
XM Satellite Radio [XMSR], a Washington-based satellite services provider in the U.S. market, announced today that the new Saab 9-7X sports utility vehicle will offer factory-installed XM equipment in first quarter 2005. Saab also will offer XM as a dealer-installed option this fall on all of its models and will further expand the availability of XM as a factory-installed feature on additional Saab models in the 2006 model year.
Also today, XM President and CEO Hugh Panero and Chairman Gary Parsons presided over the opening of the NASDAQ market in New York City. That recognition comes while XM products and services are on prominent display during the nine-day New York International Auto Show that begins this week. Rival Sirius Satellite Radio [SIRI] was similarly honored Jan. 29 when its CEO Joe Clayton was featured at the opening of NASDAQ trading.
Yesterday, XM unveiled a new satellite data information service called XM NavTraffic. The service is powered by NAVTEQ Traffic, a new product from NAVTEQ, a global provider of digital map data for vehicle navigation systems. XM NavTraffic is the nation’s first satellite traffic information service that enables a vehicle’s on-board navigation system to display current traffic information for a driver’s chosen route.
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