Volvo Group, Renault Group and CMA CGM have agreed on a strategic shift in the ownership and structure of their Flexis joint venture, marking a new phase for the electric van project launched in 2023.
Under the agreement, Renault Group will acquire Volvo Group’s 45 percent stake and CMA CGM’s 10 percent share in Flexis S.A.S. Despite the change, Volvo will remain involved through Renault Trucks, continuing as a partner and investor. From 2027, Renault Trucks will also distribute vehicles developed under the Flexis programme. Volvo stated the transaction will have no material impact on its financial results.
Flexis was created by the three partners to develop a new generation of fully electric vans built on a software defined vehicle platform, supported by a broader ecosystem of digital services and tailored mobility solutions. The initiative aimed to position the partners at the forefront of next generation urban logistics and electrified commercial transport.
The revised structure aligns with the existing cooperation model between Renault Group and Renault Trucks for Renault branded light commercial vehicles. According to the companies, the change reinforces their long standing collaboration while simplifying governance and accelerating development and market rollout.
All parties expressed continued confidence in the Flexis product roadmap and the long term potential of software driven mobility solutions. The agreement reflects a shared commitment to innovation and ongoing cooperation, even as ownership evolves.
The transaction remains subject to regulatory approval.
