Renault, Volvo, CMA CGM Join Forces To Develop New Electric Vans

Mobility Outlook Bureau
06 Oct 2023
03:18 PM
1 Min Read

The JV is a response to the growing demand for electric vans, which is expected to triple in Europe by 2030.

Renault, Volvo, CMA CGM mobility outlook

Renault Group, Volvo Group, and CMA CGM Group have announced a joint venture to develop a new generation of electric vans. The new company will be based in France and is expected to start operations in early 2024. Volvo Group and Renault Group will, however, remain competitors in all other areas.

The new vans will be built in a new fully electric LCV skateboard platform offering high modularity for different body types at low cost and breakthrough safety requirements. The van will offer high polyvalence for tailor-made solutions and different battery capacities with an unprecedented 800V feature for vans.

The vans will also be equipped with software-defined vehicle architecture, enabling them to be connected to the logistic business environment and offer unprecedented capabilities to monitor the delivery activity and user business performance.

Renault Group and Volvo Group signed binding agreements to launch a new company where they will initially hold respective 50-50 equity stakes, and are planning to invest € 300 million each over the next three years. CMA CGM Group signed a non-binding letter of intent with Renault Group and Volvo Group to join the new company, investing € 120 million through PULSE, its Energy Fund dedicated to accelerating the decarbonisation of transport and logistics sectors.

Renault Group will bring its expertise in developing and manufacturing electric vehicles to the joint venture. Volvo Group will bring its expertise in commercial vehicles and uptime and productivity services. CMA CGM Group will bring its global logistics and supply chain management expertise.

The new company is expected to be a major player in the emerging electric van market. Given their combined expertise and resources, the joint venture partners are well-positioned to develop and market a successful electric van product.

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