Renault will acquire full ownership of the Flexis electric van joint venture

2026-02-23 18:20:20

Investing.com – Renault announced on Monday that it will acquire its 45% stake in the electric van joint venture Flexis, which is held by Volvo Group, as well as the 10% stake held by CMA CGM, with the acquisition amount not disclosed.

The French automaker stated that it has signed binding agreements with Volvo Group and CMA CGM to acquire full ownership of Flexis and to drive the completion of the project, overseeing the development of its new all-electric light commercial vehicle series.

The company said that the agreement is subject to approval and is expected to become effective before the end of the first half of 2026, with production expected to begin by the end of this year.

Swedish truck manufacturer Volvo Group stated in another release that it will continue as a partner and investor in the project through Renault Trucks, and plans to start distributing products developed by Flexis beginning in 2027. The group added that the transaction will not have a significant impact on its earnings.

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