# CMA CGM acquires 10% in stake in Volvo-Renault EV joint venture, Renault says
Author:  Pal Sinha,Barnali
Author URL: https://economystandard.com/author/pal-sinha-barnali/
Published: 2024-04-03
Category: Headlines
Category URL: https://economystandard.com/category/headlines/
Meta Title: CMA CGM buys 10% stake in Volvo-Renault EV venture
Meta Description: Shipping group CMA CGM acquires 10% stake in Renault's partnership with Volvo on electric vans. Strategic investment up to 120 million euros by 2026.
URL: https://economystandard.com/cma-cgm-acquires-10-in-stake-in-volvo-renault-ev-joint-venture-renault-says/

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qsu1py003nwirgoap5agsl/images/2024-04-03t054737z1lynxnpek3204jrtroptp4ukraine-crisis-shipping-scaled-1737053980810-compressed.webp)

## CMA CGM acquires 10% in stake in Volvo-Renault EV joint venture, Renault says   (Reuters) – French car manufacturer Renault on Wednesday announced that shipping group CMA CGM officially joined Flexis, its partnership with Volvo Group on electric vans.    CMA CGM, through its energy fund, acquired a 10% stake in Flexis and has confirmed its interest for a strategic investment of up to 120 million euros ($129 million) by 2026, Renault said in a statement.    The carmaker also announced the appointment of Philippe Divry as CEO of the new company.    In March, Renault and Volvo obtained regulatory approval to officially launch their joint venture.    ($1 = 0.9280 euros)        (Reporting by Augustin Turpin; Editing by Tom Hogue)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---