Renault Group and Volvo Group are pushing ahead with plans to develop a “revolutionary” generation of electric vans following the creation of their joint venture.
Dubbed Flexis SAS, the newly established JV will introduce a new family of fully electric vans from 2026, based on a software-defined vehicle (SDV) platform and providing dedicated services.
The two firms plan to invest respectively €300m (£257m) over the course of the next three years.
French logistics company CMA CGM Group has also confirmed its interest for a strategic investment up to €120m (£109m) in Flexis through Pulse, its €1.5bn (£1.3bn) investment fund aimed at fostering the decarbonisation of the logistics value chain.
The launch of the JV follows the binding agreements signed in October 2023. Renault and Volvo have now obtained the required regulatory approvals to officially launch the new company, which will be based in France and will address the growing needs of decarbonised and efficient urban logistics.
Speaking last year, Luca de Meo, CEO of Renault Group, said: “The new company is the start-up minded, unmatched combination of the complementary assets of three champions: a leading truck maker, expert in tailored services, a champion of the global supply chains and a European EV pioneer & LCV leader. All the ingredients are there to come up with something truly unique.”
Renault Group will bring the knowhow to develop and manufacture at scale the electric platform, while Volvo Group will draw on its strong customer base of professional logistic companies, global service network, and wide experience in uptime and productivity services. The two companies have been working together on light commercial vehicles for more than 35 years through Volvo Group’s Renault Trucks subsidiary, and both firms’ networks already distribute the Renault Master and Trafic commercial vehicles.
CMA CGM will assist the new company with its knowledge on transport and supply chain needs.
However, Volvo Group and Renault Group will remain competitors in all other areas.
