Renault Group and Volvo Group have announced the forming of a new company together to help decarbonize the logistics industry. The new joint venture will specialize in developing a lineup of all-electric vans built atop a new LCV skateboard platform.
Volvo Group remains a massive Swedish manufacturing conglomerate approaching 100 years of service. Not to be confused with Volvo Cars, the Group specializes in construction equipment, outboard motors, and operates the Volvo Trucks subsidiary.
The Group has made inspiring commitments to electrification and is already delivering record numbers of zero-emission technology to the segments mentioned above. Meanwhile, Renault Group is a French multinational automobile manufacturer with 28 years more experience to Volvo Groups senior.
Currently responsible for Renault, Dacia, Alpine and Mobilize sub-brands Renault Group is working to become an entirely carbon-neutral company by 2040. The French automaker has already invested billions in developing and delivering electric passenger vehicles, but now looks to help electrify last-mile deliveries in Europe with the help of Volvo.
Renault and Volvo to deliver electric vans by 2026
Volvo Group shared details of its new joint venture with Renault Group today, which also includes CMA CGM Group – a global developer of logistics solutions for land, air, and sea. The release states that both Renault and Volvo Group have signed binding agreements that allow each respective 50-50 equity stakes, as both intend to invest 300 million euros each over the next three years.
CMA CGM Group has also signed a non-binding letter of intent to join the new company, vowing to invest 120 million euros. Together, the companies will work on developing and producing an all-new family of fully-electric, software defined vehicles designed specifically for logistics and rentals.
That lineup of light-commercial vehicles (LCVs) will begin with a new dedicated 800V skateboard platform that will be modular to support multiple EV sizes. Volvo Group president and CEO Martin Lundstedt spoke to the new joint venture with Renault and CMA CGM:
We are excited to take yet another step in our journey towards sustainable transport solutions through the intended establishment of a new company. Volvo Group is keen to continue to offer its customers complete transport solutions that help them decarbonize their value chains. We see a growing demand for clean, efficient, and safe urban transportation. Partnership and collaboration are key to achieve this.
The new to-be-named company is expected to begin operations in early 2024, following all regulatory approval processes and will operate out of Renault’s native France. EV production is expected to begin in 2026.