CMA CGM joins Renault and Volvo: a joint venture for the revolutionary generation of electric vans

CMA CGM Group joined Flexis SAS founded on March 22, 2024, by Renault Group and Volvo Group for the next generation of electric vans.

CMA CGM, through PULSE, its energy fund, acquired a 10% stake in Flexis SAS and has confirmed its interest for a strategic investment up to EUR 120 million by 2026.

Volvo Group and Renault Group, holding each a 45% stake in Flexis SAS, plan to invest respectively EUR 300 million over the next three years.

New expectations for electrified vans are emerging as professional customers are facing increasing pressure from climate change and CO2 regulations, while e-commerce and logistics are booming. The European market for electrified vans is expected to grow by 40% per year until 2030.

To address this market, Volvo Group, Renault Group and CMA CGM Group are creating Flexis SAS, to lead the decarbonization of transport and logistics sectors. A coalition of three leading companies with an agile start-up approach, Flexis combines the industrial expertise of world class automotive manufacturers and the know-how of the number one company for automotive logistics.

The three companies are renowned for their leadership in:

• Electric vehicles and software, as well as LCV manufacturing for Renault Group
• Transport solutions with expertise in tailored services, uptime, and productivity for Volvo Group.
• Logistics, notably for the automotive industry, and as a pioneer in the decarbonization of supply chain for CMA CGM

Source: media.renaultgroup.com