Group 1 - Renault Group has signed a binding agreement with Volvo Group and CMA CGM to acquire all shares of the joint venture Flexis SAS, which will focus on the development of electric trucks after obtaining antitrust approval [1] - Flexis SAS is set to be established on March 22, 2024, with initial ownership split between Renault and Volvo at 50% each, later adjusted to Renault 45%, Volvo 45%, and CMA CGM 10% after a strategic investment of up to €120 million from CMA CGM [1] - Renault will take full responsibility for the project after the acquisition, which is expected to be finalized by mid-2026 following necessary regulatory approvals [1] Group 2 - Approximately 1,300 employees are currently involved in the project, located at Renault's technical centers in the Île-de-France region [2] - The first model, the "Renault Trafic Van E-Tech electric version," is expected to begin production at the Sandouville plant in France by the end of 2026 [2] - Renault Group reported a revenue of €57.9 billion for the year 2025, a 3.0% increase year-on-year, with global sales reaching 2,336,807 vehicles, also a 3.2% increase [2]

Group 1 - Renault Group is leveraging its Chinese R&D center to design new models for markets outside Europe while aiming to reduce production costs and accelerate development by learning from the Chinese market [1][3] - The Shanghai R&D center, established in 2024, focuses on developing electric vehicles for the Ampere and Renault brands, targeting markets outside Europe [3] - Renault has achieved a significant reduction in vehicle development time, creating a budget-friendly electric vehicle, Twingo, in just 21 months, with a projected price of under €20,000 (approximately 163,000 RMB) [5] Group 2 - The Shanghai R&D center aims to reduce the cost of Renault's next-generation electric vehicles by 40% by 2028, with plans to double electric vehicle sales growth rates in 2025 and 2026 [7] - Renault is engaging with several Chinese component suppliers to establish factories in Europe, promoting a "market for technology" approach [7] - The global electric vehicle market saw over 17 million units sold last year, with China accounting for over 60% of the total, highlighting the country's dominance in the sector [8]