Renault Group will acquire Volvo Group’s 45% stake and CMA CGM’s 10% stake in Flexis S.A.S., the joint venture created to develop a new generation of fully electric vans, Volvo Group announced in a press release dated 20 February 2026.
Under the agreement, Volvo Group said it will remain involved through Renault Trucks, continuing as a partner and investor in the project and distributing Flexis-developed products from 2027.
Volvo added that the transaction will have no material impact on Volvo Group earnings. It described the deal as a “strategic change” to Flexis’ business model and said it will align with the existing cooperation model between Renault Group and Renault Trucks for Renault-branded light commercial vehicles. The agreement is subject to regulatory approval.
Renault also confirmed that it has reached an agreement with Volvo Group and CMA CGM, enabling it to take full ownership of Flexis, stating that completion depends on regulatory approvals and presenting the move as a new phase for the project.
Background: a 2023–2024 joint venture focused on SDV electric vans
Flexis was conceived in October 2023 when Renault, Volvo and CMA CGM said they would jointly develop fully electric vans and related services around a software-defined vehicle platform. Volvo Group later confirmed that Flexis SAS was officially launched in March 2024 after the partners obtained the required approvals.
In earlier project communications, the partners had outlined investment plans of €300m each for Renault and Volvo over three years, with CMA CGM set to invest up to €120m.
