Renault Group and Volvo Group have officially established their joint venture, Flexis, to develop a new generation of electric vans. The venture, funded by both parent companies with 300 million euros each over three years, aims to lead the battery-powered van market in Australia.
Flexis, created following a binding joint venture agreement signed in October, will focus on developing and producing innovative electric vans based on an 800-volt platform. Production is slated to begin in 2026.
Initially, the joint venture will be equally owned by Renault Group and Volvo Group. They have agreed to invest 300 million euros each over the next three years. French logistics company CMA CGM is also expected to join as a third partner, investing 120 million euros.
Renault Group CEO Luca de Meo highlighted the significance of the collaboration, stating, “Renault Group intends to be a leader in this transformation while ensuring robust and effective value creation.” He emphasized the partnership’s aim to provide the best solutions to professional logistic customers and welcomed the involvement of CMA CGM.
The joint venture will leverage the strengths of both Renault and Volvo, with Renault focusing on expertise in electric platform development and manufacturing, and Volvo contributing its customer base of logistics providers and global service network.
Martin Lundstedt, President and CEO of Volvo Group, emphasized the company’s commitment to offering customers complete transport solutions that aid in decarbonizing their value chains. He stated, “Partnership and collaboration are key to achieve this.”
While the joint venture marks a significant collaboration, Renault and Volvo remain competitors in other areas, except in the heavy commercial vehicle sector, where they have a longstanding cooperation through Renault Trucks, a part of the Volvo Group.
Flexis aims to revolutionize the light commercial vehicle market through electrification and digitalization. The joint venture represents a unique combination of assets from three champions: a leading truck maker, an expert in tailored services, and a European pioneer in electric vehicles and light commercial vehicles.
