Renault and Volvo get green light for electric vans joint venture

Renault Group and Volvo Group have obtained the required regulatory approvals to officially launch the new company Flexis SAS 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 decarbonised and efficient urban logistics and will be based in France.

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.

Renault Group and Volvo Group plan to invest respectively €300 million over the course of the next three years.

They signed a joint venture binding agreements on October 6 last year.

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.

Founded in 1927, The Volvo Group produces trucks, buses, construction equipment and power solutions for marine and industrial applications. It is separate from Volvo Cars.

• Renault is gearing up for its 21st appearance at the UK’s annual Commercial Vehicle Show with a special focus on the UK premiere of the new Master van alongside its latest 100% electric LCV line-up.

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• Source: https://www.am-online.com/news/manufacturer/2024/03/22/renault-and-volvo-get-green-light-for-electric-van-joint-venture