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Electronics news

Renault, Volvo and CMA CGM create electric vehicle venture

Renault, Volvo and CMA CGM have joined forces in a joint venture to develop new electric vans with software-defined architecture. The vehicles will be built on an all-electric 800V LCV skateboard platform using batteries with different capacities.

Renault Group and Volvo Group have signed an agreement to create a new company with equal shareholdings. They have each committed to invest €300 million over the next three years. CMA CGM signed a non-binding cooperation agreement with Renault Group and Volvo Group, investing 120 million euros.
The new company will be based in France and is expected to start operations in early 2024. Production is scheduled to start in 2026. By 2030, the European market for electrified vans will grow threefold, opening up a major opportunity for an entirely new light electric vehicle, Renault believes.
Renault Group and Volvo Group intend to bring the advantages of existing know-how, services to the new company.
As a global player in all segments of the supply chain, CMA CGM intends to assist the new company in creating appropriate solutions that can meet the needs of all participants in the transportation and supply chain.
As a leader in transportation and logistics, CMA CGM is proud to join forces with Europe's largest automaker and the world's leading truck manufacturer Renault Group and Volvo Group to create the new electric van company.