Press Release
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march 22, 2024 - Volvo
Volvo Group and Renault Group completes creation of a joint venture for an all-new generation of electric vans: Flexis SAS
Following the binding joint venture agreements signed on October 6th, 2023, Volvo Group and Renault Group have obtained all the required regulatory approvals and have now officially launched the new company Flexis SAS for the next generation fully electric and software defined vehicles.
The new company, which will be based in France, will address the growing needs of decarbonized and efficient urban logistics.
Volvo Group and Renault Group plan to invest respectively EUR 300 million over the next three years.
Following its non-binding agreement on October 6th, 2023, CMA CGM Group has confirmed its interest for a strategic investment up to EUR 120 million in Flexis through PULSE, its EUR 1.5 billion investment fund aimed at fostering the decarbonization of the logistics value chain.
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