Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Renault expects closing of electric vans JV with Volvo and CMA CGM by early April

Published 13/03/2024, 13:53
Updated 13/03/2024, 13:56
© Reuters. A Renault logo is pictured in Brussels, Belgium March 4, 2024. REUTERS/Yves Herman/File Photo

PARIS (Reuters) - Renault (EPA:RENA) expects the closing of its joint venture in electric vans with Volvo and French shipping group CMA CGM to happen by the beginning of April, a spokeswoman told Reuters on Wednesday.

Renault and Volvo signed binding agreements last fall to launch a new company where they would initially each hold a 50% equity stake and each invest 300 million euros ($316 million) over the next three years.

CMA CGM also signed at the time a non-binding letter of intent with Renault and Volvo to join the new company and invest 120 million euros through PULSE, its energy fund focused on decarbonisation of transport and logistics sectors.

The three companies plan to present the JV on April 3.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.