Volvo Group, Renault Group and CMA-CGM have agreed on a strategic change in the business model of Flexis S.A.S., their joint venture focused on next-generation electric vans and mobility solutions.
Under the new agreement, Renault Group will acquire Volvo Group’s 45% stake and CMA-CGM’s 10% stake in Flexis, consolidating ownership of the venture. Despite the ownership change, Volvo Group, through Renault Trucks, will remain a partner and investor in the project and will distribute Flexis-developed products from 2027.
The strategic move is aimed at aligning Flexis with the existing and successful business model between Renault Group and Renault Trucks for Renault-branded light commercial vehicles. Volvo Group stated that the transaction is not expected to have any material impact on its earnings.
Flexis was established in October 2023 as a collaboration between Renault, Volvo and CMA-CGM to develop a new generation of fully electric vans built on a software-defined vehicle (SDV) platform, supported by a broad ecosystem of customized services and solutions. The partners reiterated their confidence in the innovative products developed under the Flexis project and their shared belief in the future of SDV-based mobility.
The agreement is subject to regulatory approvals and reflects the long-standing collaboration and strategic alignment between Renault and Volvo in commercial vehicle development.
Volvo Group, headquartered in Gothenburg, Sweden, is a global provider of transport and infrastructure solutions, employing nearly 100,000 people and serving customers in almost 180 markets. The company reported net sales of SEK 479 billion (EUR 43 billion) in 2025.
