FILE PHOTO: The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes//File Photo
PARIS (Reuters) - Renault will work with fellow carmaker Volvo and shipping group CMA CGM on an electric van project that Renault has been developing to boost its position in the booming electric vehicle market.
Renault and Volvo signed binding agreements to launch a new company where they will initially each hold a 50% equity stake and each invest 300 million euros ($316 million) over the next three years, they said in a statement on Friday.
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