Renault to Take Full Control of Flexis Electric-Van JV
By Nina Kienle
Renault said it would acquire Volvo AB's 45% stake and CMA-CGM's 10% stake in electric-van joint-venture Flexis for an undisclosed sum.
The French carmaker said Monday that it signed a binding agreement with Volvo AB and CMA-CGM to acquire the full ownership of Flexis and carry the project through completion, overseeing the development of its new, fully electric range of light commercial vehicles.
While the agreement is subject to approval, it could become effective by the end of the first half of 2026, with production expected to begin by the end of this year, the company said.
Swedish truckmaker Volvo AB in a separate statement said it would remain a partner and investor in the project through Renault Trucks, and is set to distribute Flexis-developed products from 2027. The transaction has no material impact on the group's earnings, it added.
The joint venture was established by the three companies in 2024.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
February 23, 2026 02:55 ET (07:55 GMT)
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