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Groupe Renault Furthers Autonomous Vehicle Development By Forming New Joint Venture

This step will allow Renault and the Renault-Nissan Alliance to continue delivering a menu of advanced technologies by furthering autonomous vehicle development testing in a virtual environment.

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French automobile manufacturer Groupe Renault has announced the signature for the acquisition of a 35 percent stake in a new joint venture, Autonomous Vehicle Simulation (AVS), formed together with Oktal, a subsidiary of Sogeclair, a French aerospace and Simulation Company.

This step will allow Renault and the Renault-Nissan Alliance to continue delivering a menu of advanced technologies by furthering autonomous vehicle development testing in a virtual environment.

“This acquisition supports Groupe Renault’s strategy to deliver the vehicle of the future: electric, connected and autonomous. We are very pleased to partner with Oktal to form AVS and thereby support French innovation. This partnership will help us to speed up building our offer of new services and improve our customer experience,” said Gaspar Gascon, Executive Vice President, and Product Engineering of Groupe Renault.

The newly formed AVS partnership will also benefit the Renault-Nissan Alliance, which has committed to launch more than 10 vehicles with autonomous capabilities by 2020.

The automaker has also signed an agreement for cooperation in the Chinese light commercial vehicle (LCV) market with Brilliance China Automotive Holdings Ltd (CBA).

To facilitate the formation of the joint venture, CBA will acquire 100 per cent holding in Chinese LCV market Shenyang Brilliance JinBei Automobile (SBJ), after which Groupe Renault will purchase from CBA 49 per cent equity interest in SBJ resulting in a restructured joint venture company held by CBA (51 per cent) and Groupe Renault (49 per cent).

“As a top global automotive company, Groupe Renault is entering into a promising and high potential Chinese LCV market which accounts for upwards of 3 million vehicles per year. By joining hands with CBA, Groupe Renault aims to become a major LCV player in China. We will bring our management expertise and know-how on the products and technology,” said Carlos Ghosn, Chairman and CEO of Renault.