Renault said Wednesday night it has secured all required regulatory approvals to buy out Volvo Group’s 45% stake and CMA CGM’s 10% stake in Flexis, the electric light commercial vehicle joint venture the three companies launched in 2024.
The move makes Renault the sole owner of Flexis, giving the French automaker full control of the venture’s industrial and technology decisions as it pushes deeper into the fast-growing electric van market in Europe.
Renault buys out Volvo Group and CMA CGM to own 100% of Flexis
Renault—best known in Europe for its passenger cars and vans—said the transaction follows the receipt of “all required regulatory authorizations” to acquire its partners’ holdings in Flexis. Volvo Group, the truck and heavy-vehicle manufacturer, held 45%, while CMA CGM, the Marseille-based shipping and logistics giant, held 10%.
Renault co-founded Flexis with the two groups in 2024 to produce electric light commercial vehicles. By buying out its partners, Renault no longer has to balance outside interests as it sets Flexis’ industrial roadmap and technology choices.
The company framed the deal as consistent with a strategy it has been pursuing for several years: establishing itself in electric vans as European CO2 rules tighten on freight transport and demand rises for lower-emission delivery fleets.
Alstom wins four Egypt rail corridor modernization contracts worth €690 million
In a separate announcement Thursday, French rail manufacturer Alstom said it won four contracts, as part of a consortium, from Egyptian National Railways (ENR) to modernize the country’s rail corridors.
The total value of the four contracts is €690 million (about $745 million). Alstom said roughly €300 million (about $324 million) of that total would go to the French company.
The contracts align with Egypt’s broader push to modernize rail infrastructure. For Alstom, which has been working through a turnaround after several difficult financial years, the win is a positive signal of its ability to secure complex international tenders in partnership with other firms.
Vinci reports flat-to-slightly higher May traffic; Air France-KLM signs €1 billion credit line
French infrastructure group Vinci reported modest year-over-year traffic gains in May: airport traffic rose 0.1%, while highway traffic increased 0.3%.
Air France-KLM, meanwhile, signed a new multi-purpose credit facility of €1 billion (about $1.08 billion), according to information published Wednesday night. The airline group, headquartered in Tremblay-en-France outside Paris, said the facility strengthens its financing capacity as it continues rebuilding margins after recent years of turbulence.
