Renault Group to take full ownership of Flexis electric van firm
The agreement sees Renault acquire Volvo's 45% stake and CMA CGM's 10% stake in Flexis.
Renault Group has agreed to take full ownership of Flexis, its electric van joint venture with Volvo Group and CMA CGM Group.
The agreement sees Renault acquire Volvo’s 45% stake and CMA CGM’s 10% stake in Flexis.
The venture was launched in 2024 by Renault and Volvo, while CMA CGM came in later as a minority shareholder.
Despite the change in ownership, the company aims to continue with its electric medium van range, beginning with the Renault Trafic E-Tech electric van later in 2026.
Subject to approval by competition authorities, the ownership transition will be completed by the end of H1 2026.
As of 23rd February, Krishnan Sundararajan has become CEO of Flexis, taking over from Philippe Divry.
Volvo Group will distribute Flexis electric vans through the Renault Trucks brand, which it owns, from 2027.
Divry said: “What the teams have achieved over the past years makes me immensely proud. This agreement represents a transformative moment for Flexis.
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