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A lot of companies are working on WAVE/DSRC. Here's a demo from Volvo: http://youtu.be/tasa3D1vVTc

And yes the safety applications like emergency brake, intersection collision warning, or curve speed warning etc., have high priority but other Applications like mapping are also possible. I think current mapping applications use road side infrastructures (also through DSRC) but I guess you could share traffic information (Waze?) using inter-vehicle communication.

Here's an technical paper if anybody is interested: http://secs.oakland.edu/~gpcorser/vanet-kenny-DSRC.pdf



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