Renault to take full control of electric van firm Flexis, buying out Volvo, CMA CGM

Renault will buy out truckmaker Volvo Group's and shipping firm CMA CGM's stakes in their new-generation electric vans joint venture Flexis, the French carmaker said on Monday. The agreement will become effective by the end of the first half of 2026, as Renault CEO François Provost, who took over last year, accelerates his efforts to streamline the group's operations. The automaker was already planning to fold its Ampere electric-vehicle unit back into the group, two sources told Reuters in January, and has shut down its car-sharing services. Flexis was created in 2024 in partnership with Sweden's Volvo, with CMA CGM joining later as a minority shareholder. Renault and Volvo each hold 45 percent, with CMA CGM owning 10 percent. A spokesperson for Renault said the automaker would pay a combined price of "several hundred million euros" for the stakes, in line with initial bids from Volvo and CMA CGM. The sellers declined to comment on the financial details of the deal. "We have had different views on how to drive this project. And we think that this is the best strategic solution going foWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times