STOCKHOLM--Volvo, Renault and CMA CGM are joining forces to produce a new generation of electric vans, pooling their efforts to decarbonize the transport and logistics sector and address booming e-commerce and rental businesses.
Shipping and logistics firm CMA CGM also plans to join the new company, investing EUR120 million, while Volvo and Renault will also continue to seek additional investment and business partners. Creation of the new company is expected in early 2024, subject to regulatory approval, with production of a new family of fully-electric and software-defined vehicles expected to start in 2026.
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