Renault is reportedly investigating a move to take full control of its Flexis electric van joint venture, according to a report originating from Le Monde and carried by ReutersExternal link image.

The French automaker is said to be considering the buyout of stakes currently held by Volvo Group and logistics giant CMA CGM, following a reappraisal of Flexis’ business outlook. The review comes amid softer-than-expected growth in parts of the European electric vehicle market, including light commercial vehicles.

Flexis was formed in 2023 under then Renault CEO Luca de Meo as a specialist electric van venture, with Renault and the Volvo Group each taking a 45% stake. CMA CGM later joined as a minority partner with a 10% stake, reflecting the project’s logistics and fleet ambitions.

While Renault has not confirmed the reported plans, the company acknowledged that discussions are ongoing. A Renault spokesperson declined to comment directly on the ownership speculation but indicated that relations between Flexis and its shareholders remain positive.

The report also suggested that financial implications could follow from any restructuring, though Renault has pushed back on claims that an asset impairment is likely to appear in its forthcoming results.

Any move to assume full ownership of Flexis would fit within a broader period of strategic change at Renault. The company has been actively reshaping its structure, including planning to reintegrate its Ampere electric vehicle unit and scaling back parts of its Mobilize operations.

Flexis was conceived as a key pillar of Renault’s future electric LCV strategy, intended to develop dedicated software-defined electric vans rather than adapted combustion-engine platforms.

Neither Renault nor Flexis has issued detailed comment on the report, and the claims have not been independently verified.

Phil Huff
Latest posts by Phil Huff (see all)
Published on