CMA CGM, Renault, Volvo commences operations for electric van venture

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CMA CGM, Renault, Volvo commences operations for electric van venture

CMA CGM Group has announced that it would be a founding member in Flexis SAS, the next generation of electric van enterprise, along with Renault Group and Volvo Group.

CMA CGM bought a 10 per cent ownership in Flexis SAS through its energy investment vehicle, PULSE, and has expressed interest in a strategic investment of up to €120 million ($129 million) by 2026.

Rodolphe Saadé established CMA CGM Group’s Energy Fund PULSE in 2022, with a €1.5 billion ($1.6 billion) commitment for decarbonisation of the logistics value chain with a focus on direct and indirect investments in both innovative firms and sustainable industrial projects.

Volvo Group and Renault Group, who each own a 45 per cent share in Flexis SAS, intend to invest €300 million ($323 million) over the next three years.

READ: Maersk strengthens Indian network with more than 500 EVs

According to CMA CGM, the vehicles will be built on a new fully electric LCV skateboard platform that will offer high modularity for different body types at a competitive cost, and breakthrough on safety requirements.

Adopting the new linked electronic platform, the truck is set to have unprecedented capabilities to monitor users’ delivery activities and business success, lowering worldwide usage costs by up to 30 per cent for logistics companies.

The vehicles will be constructed at Renault Group’s Sandouville facility, which specialises in LCV manufacturing and will employ 550 workers over the next four years.

In October 2023, CMA CGM, Renault Group, and Volvo Group announced the electric van firm.

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