Volvo Group announced that the previously disclosed agreement with Renault Group and CMA CGM to make a strategic change to Flexis’s business model has received the required regulatory approvals and has now closed.
The agreement changes the ownership structure of Flexis S.A.S., the company connected to the partners’ electric commercial vehicle initiative. Under the completed transaction, Renault Group acquired Volvo Group’s 45% ownership stake in Flexis, along with CMA CGM’s 10% ownership stake.
Even though Volvo Group has sold its ownership position, the company will remain involved in the project through Renault Trucks. Volvo Group said Renault Trucks will continue to participate in the initiative and will distribute Flexis-developed products starting in 2027.
The closing of the agreement marks the completion of a strategic shift for Flexis as Renault assumes full ownership following the regulatory approval process. The change is intended to support the next phase of the Flexis business model while maintaining Volvo Group’s future commercial role in the distribution of products developed by Flexis.
Flexis was formed as part of a broader push to develop next-generation electric commercial vehicles and related solutions for professional customers. The project has been connected to efforts by Volvo Group, Renault Group, and CMA CGM to support more sustainable transportation and logistics through new vehicle platforms and operating models.
For Volvo Group, the transaction does not have a material impact on earnings. The company will continue focusing on transport and infrastructure solutions across trucks, buses, construction equipment, marine and industrial power solutions, financing, and services.
Founded in 1927 and headquartered in Gothenburg, Sweden, Volvo Group employs almost 100,000 people and serves customers in nearly 180 markets. In 2025, the company reported net sales of SEK 479 billion, or about €43 billion. Volvo Group shares are listed on Nasdaq Stockholm.
