The shipowning group CMA CGM and the Renault car manufacturers and Volvo to set up a van development company electric, an initiative that will be open to other possible partner. The three groups specified that the new company, which will be based in France, will become operational at the beginning next year and will be fully independent, will begin vehicle production in 2026.

Renault and Volvo have signed binding agreements for the creation of the new company that will initially be a joint venture jointly owned by the two groups that will each invest €300 million over the next three years. CMA CGM has signed a non-binding letter of intent with the two car manufacturers to join the new company investing €120 million through its PULSE fund which is dedicated to accelerating the decarbonisation of transport and logistics sectors.

The shipping company will French contribute to the partnership its experience to ensure that the means designed are suitable for all the needs of the transport and supply chain.