Rivian pauses plans to make electric vans in Europe with Mercedes-Benz

Rivian said Monday it was pausing plans to manufacture electrical commercialized vans successful Europe and would "no longer pursue" the statement it made with Mercedes-Benz conscionable 3 months ago.

"We've decided to intermission discussions with Mercedes-Benz Vans regarding the Memorandum of Understanding we signed earlier this twelvemonth for associated accumulation of electrical vans successful Europe," Rivian CEO RJ Scaringe said, noting the institution was pursuing "the champion risk-adjusted returns" connected its superior investments.

"At this constituent successful time, we judge focusing connected our user business, arsenic good arsenic our existing commercialized business, correspond the astir charismatic near-term opportunities to maximize worth for Rivian," helium added.

The U.S.-based electrical conveyance shaper said it remains unfastened to exploring aboriginal enactment with Mercedes-Benz "at a much due clip for Rivian." The companies signed their archetypal memorandum of knowing successful September.

Mercedes-Benz said Rivian's determination would not interaction the timeline of its electrification strategy oregon the planned ramp-up of its caller electrical conveyance manufacturing tract successful Jawor, Poland.

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