Renault Group Takes Full Ownership of Flexis to Build Next-Gen Electric Vans

Boulogne-Billancourt, France - Renault Group, an automobile manufacturer, Volvo Group, and CMA CGM Group have signed a binding agreement, subject to antitrust and other regulatory approvals, that will see Renault Group acquire full ownership of Flexis SAS - an automotive company, the joint venture created in 2024 to develop a new generation of fully electric vans for the light commercial vehicle (LCV) market.

Under the agreement, Renault Group plans to purchase Volvo Group’s 45% stake and CMA CGM Group’s 10% stake in Flexis. If cleared by competition authorities, the transaction could take effect by the end of the first half of 2026, positioning Renault as the sole owner to carry the program through to production, with the industrial roadmap remaining firmly rooted in France.

Renault confirmed that production is expected to begin by the end of 2026, in line with the original plan. The first model in the upcoming range will be the Renault Trafic Van E-Tech electric, scheduled to enter production at Renault Group’s Sandouville plant in Normandy, France by late 2026.

This project is designed to address rising demand for zero-emission commercial vehicles as cities and fleets accelerate decarbonization and last-mile delivery electrification.

Mr. Philippe Divry, CEO, Flexis S.A.S, said “The accomplishments of the team over the past few years fill me with tremendous pride. This agreement marks a pivotal milestone for Flexis, ensuring the long-term funding, industrial backing, and strategic commitment required to launch our new line of electric vehicles and redefine urban logistics. I have full confidence in Krishnan’s leadership as Flexis moves into this exciting new chapter, and I extend my best wishes to him and the entire Flexis team for continued success.”

Mr. Krishnan Sundararajan, COO Flexis, said “We are fully prepared to accelerate our growth and expand at scale. This agreement strengthens our capability to deliver on our ambitions, beginning with the launch of the Renault Trafic Van E-Tech electric and to position ourselves as a leader in sustainable light commercial vehicles. Our teams are highly motivated and deeply committed to this mission. With the strong support of Renault and the continued partnership of Volvo Group, we are well-equipped to achieve lasting success.”

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