Renault (EU:RNO) announced Monday that it has agreed to buy out Volvo AB’s 45% interest and CMA-CGM’s 10% stake in the Flexis electric van joint venture, taking full ownership of the business for an undisclosed consideration.
The French automaker said it has entered into a binding agreement with both Volvo AB and CMA-CGM that will allow Renault to assume complete control of Flexis and lead the project through its next development phase, including the rollout of a new lineup of fully electric light commercial vehicles.
The transaction remains subject to regulatory approvals and is expected to be finalized by the end of the first half of 2026. Renault added that production of the new electric vans is still scheduled to begin before the end of this year.
In a separate statement, Swedish truck manufacturer Volvo AB said it will continue to participate in the initiative as a partner and investor via Renault Trucks and plans to distribute vehicles developed under the Flexis programme starting in 2027. Volvo noted that the deal is not expected to have a material effect on its financial results.
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