GDANSK (Feb 23): Renault will buy out truckmaker Volvo's and shipping group CMA CGM's stakes in their new generation electric vans joint venture Flexis, the French carmaker said on Monday. The agreement will become effective by the end of the first half of 2026, as Renault CEO François Provost, who took over last year, accelerates his efforts to streamline the group's operations. Flexis was created in 2024 by former Renault CEO Luca de Meo in partnership with Sweden's Volvo, with CMA CGM joining later as a minority shareholder. Renault and Volvo each hold 45%, with CMA CGM owning 10%. It added that Volvo will also market the vehicle from 2027 onwards through Renault Trucks, part of the Volvo Group, as part of a long-term partnership for light commercial vehicles.

Source: The Edge Markets February 23, 2026 08:54 UTC