Published by Global Banking & Finance Review®
Posted on February 9, 2026
2 min readLast updated: February 9, 2026
Add as preferred source on GoogleRenault plans to acquire full control of its electric van venture Flexis, buying out Volvo and CMA CGM, as market growth lags.
PARIS, Feb 9 (Reuters) - Renault plans to buy out stakes held by Volvo Group and shipping firm CMA CGM in their electric van joint venture Flexis, French newspaper Le Monde reported on Monday, following a review of the business plan as market growth falls short of expectations.
CEO François Provost, who took over last year, is accelerating efforts to streamline Renault's operations.
The French automaker is already planning to fold its Ampere electric-vehicle unit back into the group, two sources told Reuters in January, and has shut its car-sharing services as part of a restructuring of its Mobilize division.
A Renault spokesperson declined to comment on the Le Monde report, saying only that discussions were under way, and relations with Flexis and its shareholders remained good.
Reuters could not independently verify the report.
Flexis was created in 2023 by former Renault CEO Luca de Meo in partnership with Sweden's Volvo, with CMA CGM joining later as a minority shareholder. Renault and Volvo each hold 45%, with CMA CGM owning 10%.
Le Monde said Renault would take full control of the venture, though the price negotiated by Provost for the partners' exit was not disclosed. The paper added that an asset impairment was likely to appear in Renault's financial results due on February 19.
(Reporting by Gilles Guillaume; Writing by Gianluca Lo Nostro; Editing by Mark Potter)
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project while remaining independent entities.
Electric vehicles (EVs) are automobiles that are powered entirely or partially by electricity, using electric motors instead of traditional internal combustion engines.
Corporate strategy refers to the overall plan and direction a company takes to achieve its goals and objectives, including decisions on mergers, acquisitions, and resource allocation.
Asset impairment occurs when the carrying value of an asset exceeds its recoverable amount, leading to a reduction in the asset's book value on the balance sheet.
Market growth refers to the increase in demand for products or services in a specific market over time, often measured by sales or revenue.
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