Mercedes-Benz and Electric Car-Maker Rivian Partnership To Co-Develop EVs on Hold
Electric car-maker Rivian has put a pause on plans to co-develop multiple new electric delivery vans with luxury German automaker Mercedes-Benz.
London, December 13 : Electric car-maker Rivian has put a pause on plans to co-develop multiple new electric delivery vans with luxury German automaker Mercedes-Benz. Rivian was concerned about spending a lot of money on an expensive new vehicle development project amid a slowing economy, reports The Verge. Mercedes-Benz GLB SUV Launched in India; Find Specs, Features, Prices and All Important Details Here.
"At this point in time, we believe focusing on our consumer business, as well as our existing commercial business, represent the most attractive near-term opportunities to maximize value," RJ Scaringe, CEO, Rivian, said in a statement.
The companies were supposed to build the vehicles together at a manufacturing site in Europe, but the German automaker is not going to pause its own plans. "The ramp-up plan for our new EV manufacturing site in Jawor, Poland is not affected," said Mathias Geisen, head of vans, Mercedes-Benz. 2024 Mercedes-Benz E-Class Gets Spied Revealing Design Details Prior Global Debut.
"We will continue with full speed and determination to scale up electric vehicle production in our first dedicated electric van plant," he added. In September, Mercedes-Benz and Rivian had signed a memorandum of understanding for a joint venture to build large commercial electric vans, the report said.
(The above story first appeared on LatestLY on Dec 13, 2022 11:38 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).