Renault Group and Volvo Group complete creation of Flexis SAS, joint venture for the revolutionary generation of electric vans

Renault Group and Volvo Group completed creation of Flexis SAS, joint venture for the revolutionary generation of electric vans. Following the joint venture binding agreements signed on October 6th, 2023, Renault Group and Volvo Group have obtained the required regulatory approvals to officially launch the new company for the next generation of fully electric vans based on a Software Defined Vehicle (SDV) platform and its dedicated services. The new company will address the growing needs of decarbonized and efficient urban logistics and will be based in France.

Renault Group and Volvo Group plan to invest respectively ?300 million over the course of the next three years. Following its non-binding agreement as of October 6th, 2023, CMA CGM Group has confirmed its interest for a strategic investment up to ?120 million in Flexis through PULSE, its ?1.5bn investment fund aimed at fostering the decarbonization of the logistics value chain. The new family of fully electric vans equipped with SDV will be introduced by the new company.

The production of the first van is planned to start in 2026.

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