Now the joint venture is regulator approved and agreed between the three companies, the CMA CGM, Renault and Volvo groups have provided more details of the new company which will build their 'next generation' electric vans and the vehicles.

CMA CGM, through its energy fund Pulse, holds a 10% stake in Flexis SAS and has reconfirmed its interest to make a "strategic" investment of up to EUR120m by 2026.

Volvo and Renault, each with a 45% stake, plan to invest EUR300m each over the next three years.

The trio described the JV as "a coalition of three champions in their respective fields to address the needs for electrified vans".

It said new expectations for electrified vans were emerging as professional buyers faced increasing pressure from climate change and CO2 regulations while e-commerce and logistics were booming.

"The European market for electrified vans is expected to grow by 40% per year until 2030."

Flexis "combines the industrial expertise of world class automotive manufacturers and the know how of the [claimed] number one company for automotive logistics".

Renault is now well versed in electric vehicles and software, reflected in various electrified or full electric variants of its passenger car range, and also makes electric LCVs, primarily vans.

Volvo brings expertise in tailored services, uptime, and productivity to the JV while CMA GGM specialises in logistics, notably for the automotive industry, and as "a pioneer in the decarbonisation of supply chain".

The new LCVs will, as previously announced, be made in France in a retooled Renault plant in Normandy.

The vehicles will be built on a new, full electric LCV skateboard platform which will offer "high modularity for different body types at a competitive cost, and breakthrough on safety requirements".

Adopting a new connected electronic platform, the vehicle will have claimed "unprecedented capabilities" to monitor users’ delivery activity and business performance, reducing by up to a claimed 30% the global cost of usage for logistics users.

Connected services will keep vehicle technology with over the air software updates during their entire life cycle.

The van itself will be customisable and offered with different battery capacities, as well as the claimed first 800 volt architecture for vehicles in this category.