Volvo Group, Renault Group and CMA CGM Group join forces to address the growing needs of decarbonized and efficient logistics with an all-new generation of electric vans
· Climate change accelerates the need of electrification transition, future CO2 regulations on transport of goods and access to cities are drastically transforming the logistic ecosystem.
· The professional customers already face increasing pressure on cost of usage, need for electrification safer and fully connected vehicles with their business.
· By 2030, the European market for electrified vans will triple, promising a huge opportunity for a brand-new LCV offer, particularly addressing booming e-commerce and rental businesses.
· Renault Group, Volvo Group and CMA CGM are joining forces to pioneer and lead this new market with an all-new generation of fully electric vans and associated services.
· The pain points of the logistics players will be addressed with superior and safe solutions onboarding the new Software Defined Vehicle platform and a wide ecosystem of customized solutions.
· Renault Group and Volvo Group sign binding agreements to launch a new company where they will initially hold respective 50-50 equity stakes, are planning to invest EUR 300 million each over the course of the next three years. CMA CGM Group signs a non-binding letter of intent with Renault Group and Volvo Group to join the new company, investing EUR 120 million through PULSE, its Energy Fund dedicated to accelerating the decarbonization of transport and logistics sectors.
· The creation of the new company is expected early 2024 and remains subject to the completion of all regulatory approval processes. The future company is planned to operate under its own corporate identity and will be based in France.