Volvo and CMA CGM sold their shares to Renault in the Flexis electric van joint venture
Renault will buy out its partners' shares in the Flexis Mobility joint venture, becoming its sole owner. The deal comes as the first model prepares for production launch.
What is known
Renault signed an agreement to purchase 45% of the shares from Volvo Group and 10% from CMA CGM. The deal is expected to close in the first half of 2026 after antitrust approvals. The Flexis joint venture was established in 2024.
Renault emphasized in a press release that the change in ownership structure will not affect the timelines and goals of the project. Production of the first of three planned models — Renault Trafic Van E-Tech electric — is set to begin at the factory in Sandouville, France, by the end of 2026.
The Flexis platform is created on a "skateboard" principle. It provides for the placement of the battery at the base of the body. The 800-volt electrical system allows the batteries to be charged from 10% to 80% in just 20 minutes. It also uses so-called software-defined vehicle architecture. This simplifies the implementation of network connectivity features, over-the-air updates, and integration with logistics services. Three versions are under development: step-in van, cargo van, and panel van.
Prospective Flexis Models. Photo: Flexis Mobility
Volvo Group will continue to participate in the project as a distributor. Through its Renault Trucks division, the company will sell the Flexis line starting in 2027. CMA CGM will completely exit the project after the deal is completed.
The share buyout follows the departure of Renault CEO Luca de Meo in June 2025, who actively promoted electrification. His successor, François Provost, maintained the main strategic directions but focused on improving efficiency and reducing risks. In the case of Flexis, Renault gains direct control over software development and production schedules.
This is the second project the company is bringing under direct management in 2026. In January, Renault announced plans to reintegrate the Ampere division, created for the development of electric vehicles and software solutions, back into the group's structure by mid-2026. Previously, it was planned to take Ampere public, but the stock offering was canceled due to unfavorable market conditions.
Source: Automotive World
