Volvo Group, Renault Group and CMA-CGM have made an agreement to make a strategic change to the business model of Flexis. This strategic move reaffirms the parties' commitment to innovation and collaboration and reflects their strong and positive relationship. Renault will buy Volvo's 45 % ownership and CMA-CGM's 10% in Flexis S.A.S. Volvo Group, through Renault Trucks, will remain a partner and investor in the project and will distribute Flexis developed products from 2027. This change will align with the current successful business model between Renault Group and Renault Trucks for Renault branded light commercial vehicles. The transaction has no material impact on the Volvo Group earnings.
In October 2023, Renault, Volvo and CMA-CGM joined forces to lead the market with an all-new generation of fully electric vans and associated services built around a Software Defined Vehicle platform and a wide ecosystem of customized solutions.
The partners remain confident in the innovative products that have been developed under Flexis, and the new agreement stands as a testament to the shared belief in the future of Software Defined Vehicle mobility solutions and reflects the strong, long standing and positive relationship between Renault and Volvo.
This agreement is subject to regulatory approval.
Journalists wanting further information, please contact:
Claes Eliasson, Head of Media Relations
+46 76 553 7229
press@volvo.com
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The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs almost 100,000 people and serves customers in almost 180 markets. In 2025, net sales amounted to SEK 479 billion (EUR 43 billion). Volvo shares are listed on Nasdaq Stockholm.