Volvo and CMA-CGM to exit Flexis in ownership reshuffle

Renault Group is acquiring Volvo Group’s 45% and CMA-CGM’s 10% stakes in Flexis S.A.S., taking full ownership of the electric van joint venture. Volvo Group, via Renault Trucks, will remain a distribution partner for Flexis products from 2027.

The restructure mirrors the existing commercial arrangement between Renault Group and Renault Trucks for Renault-branded light commercial vehicles. Volvo Group has said the transaction will have no material impact on its earnings.

Flexis was established in October 2023 to develop a new generation of fully electric vans built around a software-defined vehicle platform. The deal remains subject to regulatory approval.