Renault will acquire the remaining stakes in electric-van joint venture Flexis, buying out partners Volvo AB and CMA-CGM. The French automaker currently holds a 45% share and will purchase Volvo's 45% stake alongside CMA-CGM's 10% stake, though the financial terms remain confidential.

This consolidation gives Renault complete operational control over Flexis, a venture designed to develop and produce battery-powered light commercial vehicles. The move streamlines decision-making for a key segment of the auto industry's electric transition, removing the need for consensus with two significant industrial partners.

The transaction reflects Renault's strategy to aggressively pursue the lucrative electric van market independently. Full ownership eliminates joint-venture complexities, allowing faster product development and direct capture of profits from a sector with growing regulatory and corporate demand.