• EV Tech Insider
  • Posts
  • Renault and Volvo create joint venture for urban electric vans, ‘Flexis SAS’

Renault and Volvo create joint venture for urban electric vans, ‘Flexis SAS’

April 01, 2024

Renault Group and Volvo Group have officially launched a new company dedicated to the production of next-generation, fully electric vans. This follows the joint venture binding agreements signed on October 6th, 2023, and subsequent regulatory approvals. The new company will focus on a Software Defined Vehicle (SDV) platform and its associated services, addressing the increasing demand for decarbonized and efficient urban logistics. The company will be based in France.

Over the next three years, Renault Group and Volvo Group have committed to investing €300 million to support the development and production of the new family of fully electric vans equipped with SDV technology. The production of the first van is slated to begin in 2026.

In addition to the joint venture, CMA CGM Group has confirmed its interest in a strategic investment in Flexis. Following a non-binding agreement as of October 6th, 2023, the group plans to invest up to €120 million through PULSE, its €1.5bn investment fund. This fund is specifically aimed at fostering the decarbonization of the logistics value chain.