Renault Group has signed a binding agreement to purchase the remaining stakes in Flexis SAS, the electric van joint venture it originally founded in 2024 alongside Volvo Group and CMA CGM Group.
Under the terms of the deal, Renault Group will acquire Volvo Group's 45% stake and CMA CGM Group's 10% stake, bringing the company into full ownership, subject to regulatory and antitrust approvals expected by the end of the first half of 2026.
The restructuring does not affect the core development timeline or product roadmap. Production of the Renault Trafic Van E-Tech electric — the first model in the Flexis range — remains on track to begin at Renault Group's Sandouville plant in Normandy, France, by the end of 2026.
The vehicle will incorporate a purpose-built skateboard platform, an 800V electric motor, and a Software Defined Vehicle architecture designed for urban logistics applications.
Approximately 1,300 personnel across multiple Renault Group sites in the Île-de-France region and Normandy are currently engaged in the project's development and industrialization phases. Despite the ownership change, Volvo Group will maintain a commercial role in the venture through its Renault Trucks subsidiary, which is set to begin distributing the vehicles from 2027, continuing a long-standing partnership between the two groups in the light commercial vehicle segment.
CMA CGM Group, the Marseille-based shipping and logistics conglomerate, said it was proud to have supported the project during its foundational development phase.