Groupe Renault announced the acquisition of French company PVI, short for Power Vehicle Innovation, with a view to accelerating the growth of its Light Commercial Vehicle business.
The assets of PVI, which boasts recognised expertise in the design and conversion of commercial vehicles running on natural gas or electricity, complement those of Renault.
This acquisition also includes Escal, a subsidiary in which PVI has a 95 percent stake. Escal specialises in the distribution, installation and maintenance of security systems for lifting vehicles. Escal itself manages PVI's service, maintenance and mechanical integration activities. Both PVI and Escal, with a combined workforce of 93 employees, are attached to the Groupe Renault's LCV Division.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.