Renault Group Assumes Full Ownership of Flexis Electric Van Joint Venture

The Renault Group has completed the full acquisition of Flexis SAS, transitioning the electric light commercial vehicle entity into a wholly owned subsidiary. The finalization follows the receipt of all necessary regulatory and antitrust approvals required to execute a binding restructuring agreement originally signed by the founding partners in February 2026. Under the terms of the closed transaction, Renault purchased Volvo Group's 45 percent ownership stake and Marseille-based shipping conglomerate CMA CGM Group's 10 percent share in the joint venture.

The corporate consolidation repositions the governance structure of the venture, which was initially established as a multi-stakeholder project in 2024 to design zero-emission urban transport solutions. Despite the complete ownership transfer, Volvo Group confirmed in an exchange release that the transaction carries no material impact on its corporate earnings. The strategic realignment does not alter the core product development timeline or the established manufacturing roadmap for the vehicle line. Renault Group teams will oversee the completion of the advanced commercial fleet program from its existing engineering sites in the Île-de-France and Normandy regions.

The vehicle architecture relies on a specialized, EV-native skateboard platform configured to support an 800-volt electric motor powertrain. The engineering design incorporates a Software Defined Vehicle electronic architecture tailored specifically to manage real-time fleet diagnostics, charging infrastructure, and urban final-mile logistics operations. Serial assembly of the first model in the product range, designated as the Renault Trafic Van E-Tech electric, remains on track to commence at Renault's Sandouville manufacturing plant in France by the end of 2026.