Collaboration of Renault Group, Volvo Group, and CMA CGM Group to take on the rising demands of eco-friendly and efficient logistics by introducing a cutting-edge line of electric vans.
New Balance Joint Venture to Revolutionize Electric Vehicles
A groundbreaking joint venture between Daimler Truck, Volvo, Pantonium, and potentially CMA CGM is set to revolutionize the electric vehicle industry. The new balance company, scheduled to start operations in early 2024 (subject to regulatory approval), aims to introduce an all-new family of fully electric and software-defined vehicles, with production slated for 2026.
The joint venture promises to offer up-to-date vehicles for a lifetime, reducing the global cost of usage for logistic players by an impressive 30%. This reduction is expected to be achieved through the connected services enabled by the software-defined vehicle technology.
Martin Lundstedt, President and CEO of Volvo Group, expresses his excitement about the new balance company's contribution to sustainable transport solutions. Rodolphe Saadé, Chairman and CEO of CMA CGM Group, also shows commitment to accelerating the decarbonization of their activity through the joint venture, should CMA CGM gain regulatory approval to join the company.
Volvo Group, a global leader in trucks with a strong customer base of professional logistic companies, and Renault Group, a global champion of Light Commercial Vehicles and an innovative leader in electric vehicles, are collaborating to develop this new balance company. Renault Group will bring its expertise in developing and manufacturing electric platforms, while Volvo Group will contribute its solid business model and smart capital allocations.
The vehicles will be built on a fully electric Light Commercial Vehicle (LCV) skateboard platform, offering high modularity and breakthroughs on safety requirements. The future company is also planned to operate under its own corporate identity and will be based in France.
The new balance company will be fully independent, combining the agility of a start-up with the strong backbone of its industry-leading partners. It aims to seek additional investment and business partners to expand the news around electric heavy-duty vehicles and infrastructure.
The vehicles will adopt the new Software Defined Vehicle architecture, enabling unprecedented capabilities to monitor delivery activity and user business performance. CMA CGM intends to assist the new balance company in building solutions for all transport and supply chain players' needs.
Luca de Meo, CEO of Renault Group, sees the joint venture as a unique combination of complementary assets. The new balance company's mission is to create a sustainable and efficient transportation system for the future.
It's an exciting time for the electric vehicle industry, as this joint venture promises to bring innovative solutions and significant cost reductions to logistics players. Stay tuned for more updates as the company moves closer to its 2024 start date.
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