Renault plans to acquire the remaining stake in Flexis, ending the joint venture structure created in April 2024 with Volvo Group and CMA CGM.
The French automaker and Volvo Group together hold a combined 90% stake in the commercial vehicle venture, with each owning 45%.
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French shipping and logistics group CMA CGM owns the rest.
The commercial vehicle venture was set up to develop battery-electric vans using a centralised computing platform.
French newspaper Le Monde reported that tensions emerged following the appointment of François Provost as Renault’s CEO.
It prompted Flexis management to seek mediation through the Nanterre economic activities court and the appointment of conciliator Marc Sénéchal.
The three shareholders have since reached an agreement allowing Renault to take 100% ownership.
In December 2025, the company said it was maintaining its development schedule, covering vehicle engineering, service roll-out, field trials, partnerships and customer collaboration.
It added that 40 letters of intent had been signed, that the first models would reach the market at the end of 2026, and that some services were already operating.
Flexis, led by Philippe Divry, has hired 150 staff and was intended to become a stand-alone manufacturer offering integrated services, drawing on Volvo Trucks’ experience in that area.
The venture also worked closely with Ampere, Renault’s electric vehicle unit created by former CEO Luca de Meo, which has since been reintegrated into Renault’s engineering operations.
Renault views light commercial vehicles as a strategic segment, having held a 28.7% share of the French market in 2025 compared with Stellantis’s 38.2%.
The group has argued that electrification of vans/utility vehicles will advance more slowly than European regulation anticipates, affecting Flexis’s valuation.
Under the original arrangement, Renault and Volvo each planned to invest €300m ($357.50m) over three years, while CMA CGM committed €120m via its transport decarbonisation investment fund.
