French carmaker Renault will buy out the stakes of truck maker Volvo and shipping group CMA CGM in their joint venture to produce the next-generation Flexis electric vans.
The agreement will take effect by the end of the first half of 2026, as Renault CEO François Provost, who took over the company last year, steps up his efforts to streamline the group’s operations.
The carmaker had already planned to reincorporate its Ampere electric vehicle unit into the group and shut down its car-sharing services as part of a restructuring of its Mobilize division, which focuses on new mobility solutions, two sources told Reuters.
Flexis was founded in 2024 by former Renault CEO Luca de Meo in partnership with the Swedish company Volvo, and was later joined by CMA CGM as a minority shareholder. Renault and Volvo each own 45% of the shares, while CMA CGM holds 10%.
Production of the Renault Trafic Van E-Tech, the first model in the range, will begin as planned at Renault’s Sandouville plant in France by the end of 2026. Volvo will sell the vehicle from 2027 through Renault Trucks, part of the Volvo Group, as part of a long-term partnership in the light commercial vehicle sector.
