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December 18, 2024
Volvo Group and Renault Group Form Joint Venture to Develop Next-Generation Electric Vans for Decarbonized Logistics.
Date: October 9, 2023
Gothenburg, Sweden- Volvo Group., and Renault Group., join forces to address the growing need for decarbonized and efficient logistics by establishing a new firm to oversee the development of an entirely new generation of electrified vans. The two organisations are excited for CMA CGM to join the new entity. Renault and Volvo will continue to look for new investors and partners.
The new business will launch all-new totally electric and software-defined automobiles. Production is set to begin in 2026
Modularity and Safety: New electric vans built on a versatile skateboard platform for various body types, emphasizing cost-effectiveness and safety improvements.
Performance and Connectivity: These electric vehicles will feature Software Defined Vehicle technology, enhancing monitoring of delivery activity and reducing logistics costs by 30%. They will offer lifelong connected services and versatile options with unprecedented 800V battery capacity.
Market-Making Collaboration: A new, independent company combines startup agility with the expertise of Renault Group, Volvo Group, and CMA CGM. They will share R&D investments, knowledge, and industrial resources to establish a solid and efficient business model.
Renault's Expertise: Renault Group, a leader in Light Commercial Vehicles and electric innovation, will develop and manufacture the electric platform for Software Defined Vehicles.
Volvo's Contribution: Volvo Group, a global truck leader, will provide its experience and service network to support decarbonized urban logistics.
CMA CGM's Role: CMA CGM, a global logistics player, will help develop end-to-end efficient solutions for the transport and supply chain needs of various players, enhancing B2B offers.
Mr. Martin Lundstedt, President, and CEO of Volvo Group, said that, We are thrilled to take another step further in our pursuit of sustainable transportation solutions with the formation of a new firm. Volvo Group is committed to continuing to provide its customers with comprehensive transportation solutions that help them decarbonize their value chains. We are seeing an increase in the need for clean, efficient, and safe urban transportation. Partnership and teamwork are critical to achieving this goal.
Mr. Luca de Meo, CEO of Renault Group, said that, Electrification and digitalization are paving the way for an LCV market revolution. Renault Group aspires to drive this change while maintaining robust and effective value creation. Today, we are extremely proud to embark on this adventure with Volvo Group in order to provide the best solutions to our professional logistic customers. We are also excited about CMA CGM joining the company. The new firm is a start-up-minded, unrivalled merger of three champions' complementary assets: a leading truck producer, an expert in bespoke services, a champion of global supply chains, and a European EV pioneer and LCV leader. Everything is in place to create something genuinely unique.
Mr. Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said that, The CMA CGM Group is happy to join forces with a major European automobile and a leading global truck builder, Renault Group and Volvo Group, to form this new company of electric vans. This is a thorough and unique collaboration: we will not only invest in this initiative, but we will also provide our know-how and skills to ensure inbound and outward logistics, and some of these vehicles may eventually be utilised to decarbonize our fleet. We are pursuing our commitment to accelerate the decarbonization of our activity and sector through this new investment by our Pulse Fund in electric transportation.
Depending on the completion of all regulatory licencing processes, the joint venture is expected to begin operations in early 2024. The eventual incorporation of CMA CGM into the company is also contingent on the completion of the regulatory approval process.
This concept was submitted in response to a call for projects issued by France 2030, with the goals of innovation and electrification in mind.
The future company will be based in France and will operate under its own corporate name. Volvo Group, through its business division Renault Trucks, and Renault Group have been collaborating on light commercial vehicles for over 35 years, as seen by the distribution of the Renault Master and Trafic commercial vehicles in both networks.
