The new joint venture Flexis SAS formed by Renault and Volvo dedicated to the production of next generation electric vans begins to take shape. In fact, a third international player is added to the two automotive giants mentioned above: it is the CMA CGM Groupwhich in addition to contributing to its customers has acquired a 10% stake in the new company.
Millionaire investments
Not only that: the group has also promised investments up to 120 million euros by 2026. An important sum, although not at the level of those promised by Renault and Volvo: both the French and Swedish groups, which will hold 45% of the capital respectively, plan to invest 300 million euros each over the next three years.
Nominations and production
Meanwhile, the first ones have arrived nominations at the head of Flexis SAS: Philippe Divry will be the new CEO, while Krishnan Sundararajan will take on the role of COO. Chapter production: the assembly operations of the 100% electric vans mentioned at the beginning equipped with a connected electronic platform will take place at the Renault plant in Sandouville in France, where 550 people are expected to be hired over the next four years.
Growing market
“Having to deal with climate change and the growing burden of regulations on CO2 emissions and to the boom in e-commerce and related logistics, professional operators have new expectations at the level of electrified vans – we read in an official note signed by Renault – The European market for these vehicles is expected to grow by 40% per year on average until 2030. To respond to this demand and carry forward the decarbonisation process of the transport and logistics sectors, the Volvo Group, the Renault Group and the CMA CGM Group have created Flexis SAS”.
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