Wejo Expands Partnership with Renault Group to Give Fleet Solution Providers and Fleet Managers Transformative Remote Asset and Activity Management Services

Rhea-AI Summary

Wejo Group Limited (NASDAQ: WEJO) has expanded its partnership with Renault Group to include direct access to vehicle data via the Easy Connect for Fleet platform. This integration signifies Wejo's entry into the $38 billion fleet management market by 2024. The data will assist telematics service providers and fleet owners in improving operational efficiency through insights into vehicle performance. The partnership is expected to significantly enhance Wejo's capabilities in Europe, providing fleet managers with crucial metrics for better decision-making regarding their operations.

Positive

• Partnership with Renault Group expands Wejo's access to vehicle data.
• Entry into a growing $38 billion fleet management market by 2024.
• Enhanced operational efficiency for telematics service providers and fleet owners.

Negative

• None.

Telematics Service Providers, Fleet Management Service Companies and Fleet Managers to streamline efficiencies with Renault Group Easy Connect for Fleets cloud platform for fleet management and Wejo integration

MANCHESTER, England--(BUSINESS WIRE)-- Wejo Group Limited (NASDAQ: WEJO), a global leader in Smart Mobility for Good™ cloud and software solutions for connected, electric and autonomous vehicle data, today announced its partnership with Renault Group (OTCMKTS: RNLSY) has expanded to provide Wejo with direct access to vehicle data from Renault Group through Renault Group cloud platform, Easy Connect for Fleet solutions for fleet management. The expanded partnership and integration with Easy Connect for Fleet Solutions represent the next step in Wejo’s entrance into the fleet management market - anticipated at $38 billion by 2024.

The data Wejo receives from the Renault Group Easy Connect for Fleets platform will come directly from participating fleet vehicles and be processed through Wejo’s ADEPT data processing and analytics platform. The data can then be leveraged by telematics service providers (TSPs), fleet owners and fleet management service (FMS) companies interested in utilizing data from embedded vehicle hardware to support fleet services instead of more unreliable aftermarket hardware.

“Our expanded partnership with Renault Group and further integration of fleet solution capabilities underpin Wejo’s rapid expansion in Europe,” said Benoit Joly, chief commercial officer at Wejo. “Integrating with Renault Group Easy Connect for Fleets platform was a natural next step in our ongoing collaboration. We are committed to working closely with Renault Group to deliver a robust vision regarding the future of mobility. This partnership is a critical catalyst for Wejo’s success in the European market.”

TSPs and FMS companies with Wejo and Renault Group Easy Connect for Fleets platform will gain the insights needed to inform operations, including geographic locations, fuel insights, odometer and speed readings, and tire pressure. Additionally, Wejo will have access to driver behavior information that includes the necessary data to promote safe driving. By leveraging driver performance, Wejo’s customers will be able to identify opportunities for improvement and training, ultimately allowing fleet owners peace of mind, knowing that they are leveraging data for the good of their fleets and drivers while protecting their investments and reducing exposure to liability.

About Wejo

Wejo is a global leader in Smart Mobility cloud and software solutions for connected, electric, and autonomous vehicle data, revolutionizing the way we live, work and travel by transforming and interpreting historic and real-time vehicle data. The Company enables Smart Mobility for Good™ products and services by organizing trillions of data points from approximately 20 million vehicles and more than 85 billion journeys globally, across multiple brands, makes and models, and then standardizing and enhancing those streams of data on a vast scale. Wejo partners with ethical, like-minded companies and organizations to turn that data into insights that unlock value for consumers. With the most comprehensive and trusted data, information and intelligence, Wejo is creating a smarter, safer, more sustainable world for all. Founded in 2014, Wejo has offices in Manchester in the UK and in regions where Wejo does business around the world. For more information, visit www.wejo.com or connect with us on LinkedIn, Twitter, and Instagram.

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. For more information, please follow this link: https://www.wejo.com/forward-looking-statements

View source version on businesswire.com: https://www.businesswire.com/news/home/20230222005638/en/

Media:

Ben Hohmann, Wejo

Ben.Hohman@Wejo.com

Katie Obrien, RH Strategic, on behalf of Wejo

kobrien@rhstrategic.com

Investors:

Tahmin Clarke, Wejo

tahmin.clarke@wejo.com

Source: Wejo Group Limited

FAQ

What is the significance of Wejo's partnership with Renault Group?

The partnership provides Wejo with direct access to vehicle data, enhancing its fleet management solutions.

How much is the fleet management market expected to grow by 2024?

The fleet management market is anticipated to reach $38 billion by 2024.

What insights will Wejo provide to fleet managers through the Renault partnership?

Wejo will offer insights on vehicle performance, including fuel usage, speed, and tire pressure.

How does the Renault Easy Connect platform benefit Wejo?

It allows Wejo to process data from fleet vehicles directly, improving data reliability and operational insights.