Groupe Renault has bought a 40 consistent with cent stake in Challenges Group, a writer with 5 magazines in its strong.
It’s a captivating acquisition for the French producer, motivated via the looming onset of autonomy.
According to the company, European commuters spend two hours in the auto each day. As the load of using is steadily passed over to computer systems, that point will want to be stuffed with different actions.
By taking a stake in Challenges Group, Renault says it has created a “lab for testing innovation” in each editorial content material and self reliant generation.
The French producer says 5000 newspaper kiosks cross into chapter 11 yearly in France, and pitches the acquisition to be able to give drivers and their passengers “free” get entry to to editorial content material from Challenges, Sciences & L’Avenir, La Recherche, L’Histoire and Historia.
Of path, it’s additionally an opportunity to turn commercials to a brand new, captive target market, however that’s no longer what they’d have you ever center of attention on.
“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,” stated Carlos Ghosn, Renault chairman and CEO.
“We are delighted to welcome Groupe Renault on board,” added Claude Perdriel, CEO of Challenges Group. “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.”
Money from Renault shall be used to fund building in virtual and “events-driven” media for Challenges.
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Renault buys media company in preparation for autonomy