Continental’s enhanced KaaS solution allows for two-way data communication between a vehicle and Avis Budget Group’s cloud-based system and its Avis mobile app, which effectively “connects” the car. Connected vehicles empower Avis customers to manage their entire rental experience through the recently updated Avis mobile app. In addition, Continental’s aftermarket solution eliminates the need for physical car keys and enables customers to use the Avis mobile app to unlock the car and start the engine. Until now, the KaaS solution only allowed for keyless entry and ignition and was only available in the Avis Budget Group “Mobility Lab” in Kansas City, USA which serves as a test bed for fully connected vehicles and operations.

Mark Servodidio, President, International, Avis Budget Group said, “Continental’s technology combined with the new, self-serve capabilities of the Avis mobile app in Europe is another example of how we are reinventing rental by making the overall customer journey more convenient, transparent, personalised and seamless. We’re excited to build upon our successful Key as a Service pilot in the United States, and provide our European customers with mobility on demand where and when they need it. Now, we’re another step closer to our goal of a fullyconnected fleet by the end of 2020.”

“Avis Budget Group is showcasing the power of the Internet of Things by connecting cars to the cloud and consumer apps,” said Helmut Matschi, member of the executive board, at Continental. “Our KaaS solution highlights Continental’s ability to quickly iterate a new product for shared mobility that is keyless, connected, and secure.  We are excited to enable new use cases for Avis that will provide their customers with a magical experience.”

Continental’s aftermarket KaaS technology offers scalability across car manufacturers, vehicle models and regions and quicker time to market with no circuitry changes or modifications in the vehicle architecture. It includes services and hardware.

Avis Budget Group and Continental will showcase the offering during the Consumer Electronics Show in the North Hall of the Las Vegas Convention Center on January 8-11, 2019.

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September 15, 2016: Avis Budget Group, a leading provider of vehicle rental services, announced it has agreed to purchase France Cars, a privately-held vehicle rental company based in France, to significantly expand its presence in the French market. Terms of the transaction were not disclosed.

This purchase will give Avis Budget Group the second-largest light commercial vehicle fleet in France. It is also a key step in affirming the company’s commitment to the local market, further increasing its ability to serve customers of all sizes, from entrepreneurs to multinationals to leisure travelers. The acquisition will add 8,000 cars, vans and light trucks to the Avis Budget Group fleet and will also add more than 60 locations to the Company’s rental network. France Cars generates vehicle rental revenues of approximately €60 million annually.

Mark Servodidio, President, International, Avis Budget Group, said, “We’re excited to announce our agreement to acquire France Cars.  We are committed to strengthening our presence in the local market, and this acquisition will complement our existing operations in the country. France Cars will bring a strong presence in the French local market business and a leading position in the light commercial vehicle segment.”

This transaction represents continued execution on Avis Budget’s strategy to expand its presence in urban and suburban markets within Europe. Last year, the Company acquired Maggiore Group, Italy’s fourth-largest vehicle rental business.

Thierry Jardin, Chief Executive Officer of France Cars, commented, “We are excited by Avis Budget Group’s commitment to acquire France Cars and are looking forward to working closely together.”

Closing of the acquisition is subject to consultation with France Cars’ employee representatives and customary conditions, including merger control clearance, and is expected to be completed prior to the end of 2016. This acquisition does not affect Avis Budget Group’s previously announced intention to repurchase $350 to $400 million of its stock in 2016.

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