Flexis SAS formed from Volvo, Renault JV

Following the binding joint venture agreements signed on October 6, 2023, Volvo Group and Renault Group have obtained the required regulatory approvals and have now officially launched the new company Flexis SAS for development of next-generation fully electric and software-defined vehicles.

An all-new family of fully electric and software-defined vehicles will be introduced by Flexis SAS, with production planned to start in 2026. The vans will be built on a new fully electric LCV skateboard platform that will offer high modularity for different body types at low cost and breakthrough on safety requirements, according to the announcement issued following the JV agreements signed last year.

Adopting the new Software Defined Vehicle architecture, the vehicles will onboard capabilities to monitor the delivery activity and user business performance, reducing the global cost of usage for the logistic players with 30%, the announcement noted. The connected services enabled by the software-defined vehicle technology will ensure vehicles are up to date vehicles throughout their lifecycle. The vans will offer compacity for urban mobility, high polyvalence for tailor-made solutions and different battery capacities with 800V feature for vans.

The new company, based in France, will address the growing needs for decarbonized and efficient urban logistics. The company will be fully independent, combining the agility of a startup with the strong backbone of its industry partners. Renault Group and Volvo Group aim to share investments in research and development and bring the benefit of existing know-how, services and industrial footprint to the new company.

“We are excited to take yet another step in our journey towards sustainable transport solutions through the intended establishment of a new company. Volvo Group is keen to continue to offer its customers complete transport solutions that help them decarbonize their value chains. We see a growing demand for clean, efficient and safe urban transportation. Partnership and collaboration are key to achieve this,” said Martin Lundstedt, president, and CEO of Volvo Group, in announcing the JV agreement last Fall.

“Electrification and digitalization are paving the way for a revolution in the LCV market. Renault Group intends to be a leader in this transformation while ensuring a robust and effective value creation. Today, we are very proud to embark in this journey with Volvo Group to bring the best of solutions to our professional logistic customers,” added Luca de Meo, CEO of Renault Group.

Volvo Group and Renault Group plan to invest EUR 300 million each in Flexis over the next three years. Following its non-binding agreement on October 6, 2023, CMA CGM Group has confirmed its interest for a strategic investment of up to EUR 120 million in Flexis through Pulse, its EUR 1.5 billion investment fund aimed at fostering the decarbonization of the logistics value chain.