Renault assumes full ownership of Flexis JV
Flexis to begin distribution as part of Renault in 2027
Volvo Group, Renault Group and CMA CGM have agreed to restructure their joint venture Flexis, with Renault set to acquire Volvo’s 45% stake and CMA CGM’s 10% stake.
Renault will assume full ownership of Flexis, while Volvo Group, through Renault Trucks, will remain a partner and investor and distribute Flexis-developed products starting in 2027, according to a Volvo release today. The move aligns Flexis with the existing business model between Renault Group and Renault Trucks for Renault-branded light commercial vehicles.
Flexis was established in October 2023 to develop fully electric vans and associated services built on a software-defined vehicle platform, according to the release. The venture focuses on customizable mobility solutions supported by a broader ecosystem.
The agreement reflects the longstanding relationship between Renault and Volvo and supports the commercialization of the electric van lineup.
The transaction is subject to regulatory approval, according to the release. Volvo Group reported 2025 net sales of 479 billion Swedish krona ($52.9 billion) and serves customers in about 180 markets.
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