The Flexis joint venture will be financed equally by the two parent companies. Renault Group and Volvo Group will each invest 300 million euros over three years.
The business objective of the new division is to develop and produce innovative electric vans based on a software-based 800-volt platform. Production is scheduled to start in 2026.
The third partner of the JV is to be the French logistics company CMA CGM with an investment of 120 million euros. However, it has not yet formally joined the project.
Renault and Volvo are so far only providing some details on the planned vans. In particular, it is reported that the 800-volt platform will provide "high modularity for different body types at low cost and a breakthrough in safety". The vans will also get advanced performance monitoring systems to reduce costs for logistics operators by 30 per cent.
According to the initiators, the planned joint venture will operate with the flexibility of a start-up while benefiting from its large shareholders. Renault said it will primarily contribute to the development and production of the electric platform, while Volvo Group will score points with its logistics service provider customer base, its global service network and expertise in operational and productivity services.
