5 Minutes Read
Renault to infuse $320 million, recruit 550 workers to make electric vans in Northern France
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
The project to build a light van, designed in particular for last-mile delivery of parcels, is part of Renault’s electric vehicle unit Flexis, a joint venture with Volvo and CMA CGM, as per Reuters.
French car maker Renault plans to invest 300 million euros ($323.25 million) in its assembly plant located in Sandouville in northern France to make new-generation electric vans from 2026.
The company will add 550 staff to its 1,850 payroll at the plant over the next four years, it said in a statement.
The project to build a light van, designed in particular for last-mile delivery of parcels, is part of Renault’s electric vehicle unit Flexis, a joint venture with Sweden’s Volvo and French shipping and logistics giant CMA CGM.
In March, Renault and Volvo obtained the necessary regulatory approval to officially launch the joint venture in which CMA CGM Group has confirmed its interest to invest up to 120 million euros, Renault said.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
