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CMA CGM acquires 10% in stake in Volvo-Renault EV joint venture, Renault says

Published by Uma Rajagopal

Posted on April 3, 2024

1 min read

· Last updated: January 30, 2026

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CMA CGM announces 10% stake acquisition in Volvo-Renault EV joint venture - Global Banking & Finance Review
This image illustrates the recent announcement by CMA CGM acquiring a 10% stake in the Volvo-Renault EV joint venture, highlighting the growing investment in electric vehicle technology within the shipping and automotive sectors.
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CMA CGM acquires 10% in stake in Volvo-Renault EV joint venture, Renault says (Reuters) – French car manufacturer Renault on Wednesday announced that shipping group CMA CGM officially joined Flexis, its partnership with Volvo Group on electric vans. CMA CGM, through its energy fund, acquired a 10% stake in Flexis and has confirmed its interest […]

CMA CGM acquires 10% in stake in Volvo-Renault EV joint venture, Renault says

(Reuters) – French car manufacturer Renault on Wednesday announced that shipping group CMA CGM officially joined Flexis, its partnership with Volvo Group on electric vans.

CMA CGM, through its energy fund, acquired a 10% stake in Flexis and has confirmed its interest for a strategic investment of up to 120 million euros ($129 million) by 2026, Renault said in a statement.

The carmaker also announced the appointment of Philippe Divry as CEO of the new company.

In March, Renault and Volvo obtained regulatory approval to officially launch their joint venture.

($1 = 0.9280 euros)

(Reporting by Augustin Turpin; Editing by Tom Hogue)

Frequently Asked Questions

What is a joint venture?
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project or business activity, sharing profits, losses, and control.
What is an investment?
An investment is the allocation of resources, usually money, in order to generate income or profit. It can involve purchasing assets like stocks, bonds, or real estate.
What are electric vehicles?
Electric vehicles (EVs) are automobiles that are powered by electricity instead of traditional fuels. They use electric motors and rechargeable batteries to operate.
What is a stake in a company?
A stake in a company refers to the ownership interest that an individual or entity has in that company, typically represented by shares of stock.

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