Renault to acquire full ownership of Flexis electric van joint venture

Renault will acquire full ownership of Flexis joint venture. We anticipated the news, which has been made official today, in this post, following press rumours last week. As stated by Flexis itself, Renault Group, Volvo Group, and CMA CGM Group have reached an agreement, enabling Renault Group to acquire full ownership of the company.

Namely, Renault Group is acquiring the shares currently held by Volvo Group (45%) and CMA CGM Group (10%). According to the official release, “this change in governance would strengthen the project without altering its product ambition or industrial roadmap”. Although being out of the partnership, Volvo Group is expected to remain “partner of Flexis”, with Renault Trucks “set to distribute the vehicles from 2027 onwards”.

Flexis under the Renault brand: new CEO effective today

At the same time, Flexis CEO Philippe Divry has decided to hand over the CEO role to Krishnan Sundararajan, effective 23 February 2026. Here are the official statements coming from the former and new Flexis CEOs.

“What the teams have achieved over the past years makes me immensely proud. This agreement represents a transformative moment for Flexis. It secures the long-term financing, industrial resources, and commitment needed to bring our new range of electric vehicles to market and truly reshape urban logistics. I have complete confidence in Krishnan’s leadership as we enter this new phase of the Flexis story. I wish him and Flexis team the very best”, commented Philippe Divry.

“We are now ready to accelerate and scale. The agreement solidifies our ability to execute our ambitions: starting with delivering Renault Trafic Van E-Tech electric from and establishing leadership in sustainable light commercial vehicles. Our teams are energized and fully committed to this mission. With Renault’s backing and Volvo Group’s continued partnership, we have everything we need to succeed”. added Krishnan Sundararajan.