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Renault announced Monday that it will acquire Volvo AB’s 45% stake and CMA-CGM’s 10% stake in Flexis, the electric van joint venture focused on developing a new generation of fully electric light commercial vehicles (LCVs). The deal will give the French automaker 100% ownership of Flexis, strengthening its position in the fast-growing electric van and sustainable mobility market. The financial terms of the transaction were not disclosed.
According to Renault, a binding agreement has been signed with Swedish truckmaker Volvo AB and global shipping group CMA-CGM. The acquisition remains subject to regulatory approval and is expected to be finalized by the end of the first half of 2026. Despite the ownership change, production of the new electric van range is scheduled to begin by the end of this year.
With full control of Flexis, Renault will oversee the completion of the project and lead the development and rollout of its next-generation electric light commercial vehicles. The move aligns with Renault’s broader electrification strategy and its commitment to expanding its zero-emission vehicle portfolio across Europe and other key markets.
Volvo AB confirmed in a separate statement that it will continue to be involved in the Flexis project through Renault Trucks. The company plans to distribute Flexis-developed electric vans starting in 2027. Volvo added that the transaction will not have any material impact on its financial performance.
The acquisition underscores Renault’s ambition to accelerate innovation in the electric commercial vehicle sector, where demand is rising due to stricter emissions regulations and the shift toward greener logistics solutions. By consolidating ownership of Flexis, Renault aims to streamline decision-making, enhance production efficiency, and strengthen its competitive edge in the global electric van market.
