Honda announces $1.2 billion U.S. investment in US-based vehicle navigation software company

The automaker is unveiling $1 billion in funding Thursday to boost its U. S. vehicle navigation unit, which it said was losing money.

The move comes a week after Honda said it would spend $1,400 per employee in order to invest in the U.K.-based company, which builds and distributes navigation software.

The automaker will spend $250 million in total to buy U. K.-based Amundsen, which provides navigation software to its dealers, and build a facility in the UK that will help it sell the software.

The company said it will invest another $250,000 in the business in the second half of 2019.

Honda is a major shareholder in Amunds and in other U.N. peacekeeping efforts.

The investment comes amid mounting concerns about the impact of climate change on the global economy.

The carmaker’s chief executive said in a speech last month that climate change poses a threat to the U