Volvo, Renault investing €300 million each in e-van firm Flexis
The Renault Group, the French auto manufacturer, said on Wednesday that its CMA CGM Group had purchased a 10% joint venture stake in Flexis SAS, making it a founding member. The joint venture for the next generation of electric vans was founded on March 22 by Renault and the Volvo Group, holding each a 45% stake. Both companies plan to invest €300 million ($323 million) each over the next three years. CMA CGM, through PULSE, its energy fund, acquired the stake in Flexis and has confirmed its int
Source: yahoo.com