FLEXIS ENTERS NEW PHASE AS RENAULT GROUP TAKES FULL OWNERSHIP

• Renault Group, Volvo Group and CMA CGM Group have concluded an agreement enabling Flexis to enter a new phase of its development.
• Under this agreement, Renault Group will acquire full ownership of Flexis and carry the project through to completion, which will remain firmly rooted in France.
• This agreement remains subject to the completion of all regulatory approval processes.
• By the end of 2026, production of the Renault Trafic Van E-Tech electric, the first model of the range, will begin at Renault Group’s Sandouville plant, France.
• In continuation of the long‑standing partnership between Renault Group and Volvo Group for light commercial vehicles, Volvo Group, through Renault Trucks, will also market the vehicle from 2027 onwards.

Boulogne-Billancourt (France), Gothenburg (Sweden), Marseille (France) – February, 20, 2026
Renault Group, Volvo Group and CMA CGM Group today signed a binding agreement, subject to antitrust approvals, enabling Renault Group to acquire full ownership of Flexis SAS, the joint venture established by the three companies in 2024 to create a groundbreaking new generation of electric vans.
Renault Group will thus oversee the development of this entirely new, fully electric, range of light commercial vehicles, incorporating state‑of‑the‑art technologies. Production is expected to begin by the end of 2026, as initially planned.

The agreement provides for Renault Group to acquire Volvo Group’s and CMA CGM Group’s respective stakes in Flexis (45% and 10%). It could become effective by the end of the first half of 2026, subject to approval by the competition authorities.

This change in governance does not alter either the product ambition or the original industrial plan aiming to provide breakthrough products and services in the electric medium van range. The value of the project, the foundations laid since 2024, and the technologies developed — unique skateboard platform, 800V motor, and SDV (Software Defined Vehicle) architecture — are more than ever aligned with the challenges of urban logistics and its growing decarbonization needs.

Renault Group’s teams will continue to fully pursue this ambitious project, convinced of the potential of this new generation of range of electric vans, beginning with Renault Trafic Van E‑Tech electric from late 2026 onward.

In France, nearly 1,300 people are working on its development across various Renault Group sites in the Île‑de‑France region (notably the Guyancourt Technocentre and the Villiers‑Saint‑Frédéric Light Commercial Vehicle Center of Excellence), through to industrialization at the Group’s Sandouville plant in Normandy.

Volvo Group, through Renault Trucks, will distribute these products from 2027, in continuity with the long‑standing relationship between Renault Group and Renault Trucks for light commercial vehicles.

Committed to energy transition, the CMA CGM Group is proud to have supported this project during this crucial phase of development.

CONTACTS

About Renault Group
Renault Group is at the forefront of a mobility that is reinventing itself. The Group relies on the complementarity of its three automotive brands – Renault, Dacia, Alpine – and its financial captive – Mobilize Financial Services – to offer sustainable and innovative mobility solutions to its customers. Established in more than 100 countries, Renault Group sold 2.337 million vehicles in 2025. It employs more than 100,000 people who embody its Purpose every day, so that mobility brings people closer.

Ready to pursue challenges both on the road and in competition, the Group is committed to an ambitious and value-generating transformation focused on the development of new technologies and services, and a new range of even more competitive, balanced, and electrified vehicles. In line with environmental challenges, Renault Group’s ambition is to achieve carbon neutrality in Europe by 2040 and worldwide by 2050.

More information: renaultgroup.com

About Volvo Group
The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers’ uptime and productivity.

Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions.

The Volvo Group is headquartered in Gothenburg, Sweden, employs almost 100,000 people and serves customers in almost 180 markets.

In 2025, net sales amounted to SEK 479 billion (EUR 43 billion). Volvo shares are listed on Nasdaq Stockholm.

About CMA CGM Group
The CMA CGM Group is a global player in sea, land, air and logistics solutions, true to its corporate Purpose, We imagine better ways to serve a world in motion.

Present in 177 countries, it employs 160,000 people, of which nearly 6,000 in Marseilles where its head office is located.

The world's 3^rd largest shipping company, CMA CGM, serves more than 420 ports across 5 continents with a fleet of over 650 vessels. In 2024, CMA CGM carried over 23 million TEU (twenty-foot equivalent unit) containers. Its subsidiary CEVA Logistics, one of the world's top five players, operates 1,000 warehouses and handled 15 million shipments in 2024. CMA CGM AIR CARGO, the Group's air freight division, will operate a fleet of 6 cargo aircraft by 2025.

CMA Media, France's 3^rd largest private media group, includes RMC-BFM and several national and regional press titles (La Tribune Dimanche, La Tribune, La Provence and Corse Matin).

Committed to energy transition, the CMA CGM Group is aiming for Net Zero Carbon by 2050.

The CMA CGM Foundation provides humanitarian aid in crisis situations and is committed to education for all and equal opportunities throughout the world. To date, the CMA CGM Foundation has transported 63,000 tons of humanitarian aid to 97 countries and supported over 550 educational projects.

More information: cmacgm-group.com