Rivian and Mercedes suspend plans to jointly produce electric vans in Europe

Rivian says it has canceled plans to provide electrical vans with Mercedes-Benz in Europe. just three months after the announcement of their joint venture.

Rivian calls this a “pause” in partnership. The corporate says it needs to concentrate on its shopper enterprise and its present industrial enterprise, which produces vans for Amazon. The e-commerce big and (a Rivian investor) ordered 100,000 pickup vans from Rivian.

“When assessing development alternatives, we pursue the very best risk-adjusted returns on our capital investments. At this level, we imagine the concentrate on our shopper enterprise alongside our current industrial enterprise represents probably the most enticing short-term alternatives for Rivian to maximise worth.” RJ Scaringe, founder and CEO of Rivian, said in a statement:. “We share the identical aim with Mercedes-Benz Vans to assist the world transition to electrical automobiles, and we stay up for exploring alternatives with them at a extra opportune time for Rivian.”

Rivian and Mercedes had deliberate a brand new three way partnership manufacturing firm that will arrange a brand new manufacturing unit someplace in Europe. It wasn’t anticipated to have an effect on Rivian’s plans in Regular.

At the very least the second public partnership that deteriorated quickly. Rivian and Ford’s luxurious model Lincoln introduced plans to develop a car collectively, then abruptly canceled it. This was at the start of the epidemic.

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