Lay out the new track! Dafee set up a new company with two famous enterprises!

Specifically, Groupe Renault and Groupe Volvo signed a binding agreement to set up a new company that will initially hold 50 percent equity in each and plan to invest 300 million euros each over the next three years. Cma CGM has signed a non-binding letter of intent with Groupe Renault and Groupe Volvo to join the new company, investing €120 million through its energy fund PULSE, which is dedicated to accelerating the decarbonisation of the transport and logistics sector.

Climate change is accelerating the need for an electrification transition, and future CO2 regulations on goods transport and urban access are revolutionizing the logistics ecosystem. Professional customers are already facing increasing usage cost pressures and their businesses require electrified, safer and fully connected vehicles. The European electric van market is set to triple by 2030, which is expected to provide huge opportunities for new LCVS, especially to address the booming e-commerce and leasing business. Pain points for logistics players will be addressed through the introduction of a new software-defined vehicle platform and an extensive ecosystem of customized solutions for superior safety solutions. The new company is expected to begin operations in early 2024, subject to the completion of all regulatory approval processes. The subsequent entry of CMA CGM into the company is also subject to regulatory approval. The headquarters will be in France. The new company will launch a new line of all-electric and software-defined vehicles. Production is scheduled to begin in 2026.

The flexibility of the new company is combined with a robust business plan and the expertise of the three leading companies

The new company will be fully independent, combining the flexibility of a start-up with the strong backbone of its industry-leading partners. Groupe Renault and Groupe Volvo aim to share R&D investments and bring the benefits of existing technologies, services and industrial footprints to the newly planned companies. With a smart allocation of capital by the leaders in each field, the new company will be built on a solid and efficient business model. As a global champion of light commercial vehicles and an innovation leader in electric vehicles, Groupe Renault will bring the knowledge of how to develop and manufacture an electric platform at scale, which will be equipped with its first software-defined vehicle architecture, providing an unprecedented experience for open source connectivity of vehicles to the logistics business environment. The Volvo Group is a global leader in trucks, with a strong customer base of specialist logistics companies, a global service network and extensive experience in uptime and productivity services. These services will be combined with innovative vehicle platforms to contribute to a comprehensive solution for decarbonized urban logistics. As a global player in all parts of the supply chain, CMA CGM will assist the new company in establishing the right solutions, based on end-to-end efficient solutions, to meet the needs of all transport and supply chain players.

Martin Lundstedt, President and Chief Executive Officer of Volvo Group, said: "We are pleased to take another step on the road to achieving sustainable mobility solutions by establishing a new company. The Volvo Group is keen to continue providing customers with complete transport solutions to help them decarbonise their value chain. We see a growing demand for clean, efficient and safe urban mobility, and partnerships are key. "

Luca de Meo, CEO of Groupe Renault, said: "Electrification and digitalisation are paving the way for a revolution in the LCV market. Groupe Renault intends to lead this transformation while ensuring robust and effective value creation. Today, we are very proud to embark on this journey with the Volvo Group to bring the best solutions to our professional customers." We are also looking forward to having CMA CGM join us. The new company features an unrivalled combination of three entrepreneurial and complementary leaders in their respective industries: a leading truck manufacturer, a tailor-made services specialist, a global supply chain leader, and a European EV pioneer and LCV leader. All of this is to create something truly unique.

Rodolphe Saade, Chairman and CEO of CMA CGM, said: "As a leader in transport and logistics, the CMA CGM Group is proud to join forces with major European car manufacturers and the world's leading truck manufacturers, Groupe Renault and Groupe Volvo, to create this new electric truck company. This is a comprehensive and innovative partnership: not only are we investing in the project, but we will also use our expertise to secure import and export port logistics, while some of these vehicles can eventually be used for fleet decarbonisation. "