Electric Van Revolution: New Venture Flexis SAS from CMA CGM, Renault and Volvo
Electric Van Revolution: New Venture Flexis SAS from CMA CGM, Renault and Volvo
CMA CGM Group, Renault Group and Volvo Group have announced they have commenced operations as founding members in a new-generation electric van venture called Flexis SAS. CMA CGM has acquired a 10% stake in Flexis SAS through its energy investment vehicle PULSE and stated it plans to make strategic investments of up to €120 million (US$129 million) through 2026. CMA CGM Group's Energy Fund PULSE was established in 2022 by Rodolphe Saadé with a €1.5 billion commitment to reduce carbon emissions across the logistics value chain. Volvo Group and Renault Group each hold a 45% stake in Flexis SAS and aim to invest €300 million (US$323 million) over the coming three years.
Vehicles built on a new fully electric LCV (light commercial vehicle) skateboard platform will offer high modularity for different body types and be cost-competitive. Additionally, they will set new benchmarks in safety requirements. Through this new electronic platform, the truck will provide users with unprecedented capacity to monitor delivery activities and business performance, and will reduce global operating costs for logistics companies by up to 30%. Vehicles will be manufactured at Renault Group's Sandouville facility, which specializes in LCV production, and will employ 550 workers over the coming four years. CMA CGM, Renault Group and Volvo Group announced the electric van venture in October 2023.
Key Points:
CMA CGM Group, Renault Group and Volvo Group have formed a partnership in an electric van venture called Flexis SAS.
CMA CGM has acquired a 10% stake in Flexis SAS and plans to invest €120 million through 2026.
Total investment in Flexis SAS will exceed €300 million (by Volvo and Renault) over the coming three years.
Vehicles will be built on a new fully electric LCV skateboard platform, offering high modularity and cost-efficiency.
The truck will feature a new electronic platform that will reduce global operating costs for logistics companies by up to 30%.
Manufacturing will take place at Renault Group's Sandouville facility and will employ 550 personnel over the coming four years.