Renault to take full ownership of electric-van joint venture Flexis

[PARIS] Renault will buy out the stakes of Volvo and shipping group CMA CGM in their new-generation electric-van joint venture Flexis, the French carmaker said on Monday (Feb 23).

The agreement will become effective by the end of the first half of 2026, as the company’s CEO Francois Provost, who took over in 2025, accelerates his efforts to streamline its operations.

The automaker was already planning to fold its Ampere electric-vehicle unit back into the group, two sources told Reuters in January.

It has shut down its car-sharing services, as part of restructuring its Mobilize division which is focused on new transport solutions.

Flexis was created in 2024 by former Renault CEO Luca de Meo in partnership with Sweden’s Volvo, with CMA CGM joining later as a minority shareholder.

Renault and Volvo each holds 45 per cent, while CMA CGM owns 10 per cent.

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Production of the Renault Trafic Van E-Tech electric, the first model of the range, will begin as planned at its Sandouville plant in France by the end of 2026, the company said.

It added that Volvo will also market the vehicle from 2027 through Renault Trucks, part of the Volvo Group, under a long-term partnership for light commercial vehicles. REUTERS