Following the joint venture binding agreements signed on 6 October, Renault Group and Volvo Group have obtained required regulatory approvals to officially launch their new company, Flexis, which will make electric vans based on a software defined vehicle (SDV) platform and provide accompanying dedicated services.
The new company will be based in France.
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The automakers plan to invest EUR300m each over the next three years.
Following its non binding agreement, also of 6 October last year, CMA CGM Group confirmed its interest in investing up to EUR120million in Flexis through Pulse, its EUR1.5bn investment fund for decarbonising the logistics value chain.
Production of the first van is scheduled to start in 2026.
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