Feb 23 (Reuters) - Renault will acquire truckmaker Volvo's and shipping group CMA CGM's respective stakes in new generation electric vans joint venture Flexis, the French carmaker said on Monday. The
Renault to Acquire Full Stake in Electric Van Venture Flexis
By Mathias de Rozario and Marie Mannes
Feb 23 (Reuters) - Renault will buy out truckmaker Volvo Group's and shipping firm CMA CGM's stakes in their new-generation electric vans joint venture Flexis, the French carmaker said on Monday.
Renault's Strategic Move in Electric Vans
The agreement will become effective by the end of the first half of 2026, as Renault CEO François Provost, who took over last year, accelerates his efforts to streamline the group's operations.
The automaker was already planning to fold its Ampere electric-vehicle unit back into the group, two sources told Reuters in January, and has shut down its car-sharing services as part of restructuring its division focused on new transport solutions.
Flexis was created in 2024 by former Renault CEO Luca de Meo in partnership with Sweden's Volvo, with CMA CGM joining later as a minority shareholder. Renault and Volvo each hold 45%, with CMA CGM owning 10%.
Diverging Views Among Partners
"We have had different views on how to drive this project. And we think that this is the best strategic solution going forward," a spokesperson for Volvo Group told Reuters, adding the recent market slowdown also affected the decision.
New van registrations in the European Union fell by 8.8% in 2025, data from European carmaker association ACEA showed. Around 11% of the newly registered vans were electrically chargeable.
Volvo spokesperson declined to comment on the financial details or the purchase price. Renault and CMA CGM did not immediately respond to requests for comment.
Financial Commitments and Investments
Volvo and Renault had committed to invest 300 million euros ($354 million) each over a three-year period, while CMA was set to invest 120 million euros.
The Swedish group had invested about 240 million euros into Flexis by the end of 2024, its annual report showed, in addition to the 2.4 billion Swedish crowns ($265 million) it paid initially for the 45% stake.
Production of the Renault Trafic Van E-Tech electric, the first model of the range, will begin as planned at Renault's Sandouville plant in France by the end of 2026, the French automaker said.
Volvo will also market the vehicle from 2027 onwards through Renault Trucks, part of the Volvo Group, under a long-term partnership for light commercial vehicles.
($1 = 0.8471 euros)
($1 = 9.0400 Swedish crowns)
(Reporting by Mathias de Rozario and Marie Mannes, editing by Milla Nissi-Prussak)
