Renault to acquire 40% stake in media firm

Renault unveiled plans on Wednesday to purchase a 40% stake in French firm Challenges Group as it gears for rapid take-up of driverless cars.

Challenges Group is a media company publishing five magazines; Challenges, Sciences & Avenir, La Recherche, L'Histoire and Historia.

Renault hopes to provide Challenges content to the users of autonomous vehicles.

"With the development of the connected driverless vehicle, users will have more time to spend on other activities while in the car," said Renault.

Strategy

The car maker said the move was consistent with its strategy of offering high-quality connected services and to improve the overall customer experience.

Claude Perdriel will retain a controlling stake in Challenges, with 60% of the shares, as well as heading up the company as chief executive.