Volvo Group, Renault Group, and CMA-CGM have reached an agreement to change the business model of Flexis. Under this new arrangement, Renault will acquire Volvo’s 45 percent stake and CMA-CGM’s 10 percent ownership in Flexis S.A.S. Despite selling its shares, Volvo Group will continue as a partner and investor in the project through Renault Trucks and plans to distribute products developed by Flexis starting in 2027.
The companies stated that this move aligns with the existing collaboration between Renault Group and Renault Trucks for Renault-branded light commercial vehicles. The transaction is not expected to have a significant effect on Volvo Group’s earnings.
In October 2023, the three firms began working together on developing a new generation of fully electric vans and related services based on a Software Defined Vehicle platform. They aim to offer a range of customized solutions built around this technology.
A joint statement from the partners said: “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.”
The completion of this agreement depends on regulatory approval.
Volvo Group continues to focus on transport and infrastructure solutions across several sectors including trucks, buses, construction equipment, marine power systems, industrial applications, financing, and services. The company was founded in 1927 and is headquartered in Gothenburg, Sweden. As of 2025, it employs nearly 100,000 people globally with net sales reaching SEK 479 billion (EUR 43 billion). Volvo shares are traded on Nasdaq Stockholm.
For more information about this development or further inquiries, journalists can contact Claes Eliasson, Head of Media Relations at Volvo Group.
