Press Release Details

Strengthens Avis Budget Group’s resolve to achieve full fleet connectivity

Expands secure and seamless vehicle access to more markets in the United States; introduces service in Europe

PARSIPPANY, N.J. and SAN JOSE, Calif., Jan. 07, 2019 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) and Continental today announced that they have expanded their partnership. Under the enhanced collaboration, Avis Budget Group will boost its fleet of connected cars in the United States and Europe by equipping 50,000 vehicles with Continental’s enhanced Key as a Service (KaaS) technology.

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 Avis mobile app. In addition, Continental’s aftermarket solution also eliminates the need for physical car keys and enables Avis 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 greater Kansas City, Missouri area as part of Avis Budget Group’s “Mobility Lab” which serves as a test bed for fully connected vehicles and operations.

“Continental’s technology coupled with the Avis mobile app is another way that we are reinventing rental by making the overall customer journey more convenient, transparent, personalized and seamless,” said Arthur Orduña, executive vice president and chief innovation officer, Avis Budget Group. “We’re delighted to build upon the success of our KaaS pilot in the Kansas City area, and provide customers in other markets and countries with mobility on demand where and when they need it. Now, we’re another step closer to our goal of a fully connected 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.

About Avis Budget Group
Avis Budget Group, Inc. is a leading global provider of mobility solutions, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world’s leading car sharing network, with more than one million members. Avis Budget Group operates most of its car rental offices in North America, Europe and Australasia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group has approximately 31,000 employees and is headquartered in Parsippany, N.J. More information is available at www.avisbudgetgroup.com.

About Continental
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transport. In 2017, Continental generated sales of €44 billion and currently employs more than 244,000 people in 61 countries.

Contacts:  Alice Pereira Avis Budget Group (973) 496-3916   PR@avisbudget.com Eva Appold Interior Division, Continental +49-6196 87-2593 Eva.Appold@continental-corporation.com