The French shipping company CMA CGM has entered with a stake of up to 10% in the new company created by the car manufacturers Volvo and Renault. The company will be in charge of manufacturing a new range of electric vans and each of the companies will keep 45% of the firm.
Through a statement published today, Wednesday, just a few hours after a press conference in Paris of the CEOs of the three companies, Renault explained that CMA CGM will invest up to 120 million euros between now and 2026 in this new subsidiary, named Flexis SAS.
For their part, Renault and Volvo each plan to invest 300 million euros in the next three years in Flexis SAS, for which Philippe Divry, from the Swedish company, has been appointed executive director.
Will be based in France
This joint venture will be based in France and aims to develop a light electric van platform with a configuration that allows different body modules to be adapted at a relatively low cost.
Last Friday, the CEO of Renault, Luca de Meo, presented the plans to convert the plant that his group has in Sandouville, near the French port of Le Havre, and its industrial complex, into the production center for these electric vans. . .
The investment of 300 million euros will result in the adaptation of the Sandouville facilities, where 1,850 employees now work, and in the hiring of 550 in the next four years.
The Trafic Van E-Tech has recently begun to be assembled there, an electric version of its Trafic van model, of which more than one million units have been manufactured in those same facilities.
