# CMA CGM acquires 10% in stake in Volvo-Renault EV joint venture, Renault says
Author:  Pal Sinha,Barnali
Author URL: https://fintechherald.com/author/pal-sinha-barnali
Published: 2024-04-03
Category: Headlines
Category URL: https://fintechherald.com/category/headlines
Meta Title: CMA CGM Acquires 10% Stake in Volvo-Renault EV Joint Venture
Meta Description: Renault and CMA CGM announce strategic partnership on electric vans with up to 120M euros investment by 2026. Philippe Divry appointed as CEO of joint venture.
URL: https://fintechherald.com/cma-cgm-acquires-10-in-stake-in-volvo-renault-ev-joint-venture-renault-says

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## 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)


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