Groupe Renault is to take a stake in a French publisher of magazines in a move that it says will help it to develop 'editorial services' for the passengers of autonomous cars in the future.
The company says it and publisher the Challenges Group will combine efforts to develop' editorial services for connected, autonomous cars and to respond to new opportunities for innovative ways of distributing content'.
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Groupe Renault will acquire 40% of the capital of the Challenges Group, which publishes five magazines: Challenges, Sciences & Avenir, La Recherche, L'Histoire and Historia.
Upon conclusion of the operation, Claude Perdriel will be a majority shareholder (60% of shares) and will be CEO of the new group 'strengthening the ability of the Challenges Group to produce high-quality editorial content'.
Renault points out that French and European commuters spend about two hours in their car every day. With the development of the connected driverless vehicle, users will have more time to spend on other activities while in the car, it says. Renault maintains that the Challenges Group and Groupe Renault have 'everything that is needed to create a "lab for testing innovation" to develop new editorial content and relevant technologies'.
Renault also notes that in France, some 5,000 newspaper kiosks are going out of business every year. This project, it says, will enable millions of drivers and their passengers to have completely free access to a choice of high-quality information and content.
Groupe Renault will acquire its stake partly by means of an increase in capital that will enable the Challenges Group to finance new development, 'particularly in the digital domain and in the fast-growing field of events-driven operations'.
"This project is totally in line with Groupe Renault's strategy, which aims to offer new, high-quality connected services and to improve the customer experience," said Carlos Ghosn, Renault Chairman and CEO.
"We are delighted to welcome Groupe Renault on board. This process corresponds to our strategy: to develop our activities not only in the press, but also in the digital and events sectors. With Groupe Renault, we will be able to innovate to a greater extent so as to offer top quality services and content to all our readers," stated Claude Perdriel, CEO of the Challenges Group.
