Rivian, a startup all-electric automaker, and Mercedes-Benz Vans announced to build of two new large electric commercial vans for the European market, with an “efficient” using a shared all-new EV-dedicated plant. As cosy housemates in their new European plant, each company’s new van was to be built on independent platforms, aiming to simplify manufacture for all parties.
What Happens to the Plan?
In September, there was still some regulatory this-and-that and final documentation to be signed, which is moving slowly. Rivian has issued”. At this time, we think that focusing on our consumer most appealing near-term potential to maximise value for Rivian,” said Chief Executive Officer RJ Scaringe in a statement released by Rivian, according to Automotive News. According to Mercedes-Benz, the disruption was caused by an “ongoing reprioritisation” at Rivian.
What did Rivian Say?
Rivian announced Monday that it will halt plans to produce commercial electric vehicles in Europe and would “no longer pursue”. “Stop discussions with Mercedes-Benz Vans about the Memorandum of Understanding,” Rivian CEO RJ Scaringe stated, adding that the business sought “the best risk-adjusted returns” on its capital expenditures. “At this time, we feel that focusing on our consumer business, and our existing commercial business provides the most appealing near-term possibilities to maximise value for Rivian,” he continued.
Comment about the Agreement:
The company based in the US stated that it is open to future collaboration with Mercedes-Benz “at a more appropriate time for Rivian.”
In September, the corporation inked of intent. According to Bank of America, two global chips by 75% due to EV car sales. Tesla supporter for many years, Toni Sacconaghi believes cuts stimulate demand. Mercedes-Benz stated that Rivian’s decision would not influence the company.
The New Project To Begin:
The new van’s manufacture was slated to begin “in a few years” in an “all-new electric-only production plant” on a Mercedes-Benz site in Poland. This would have been for them to announce that the factory would have a carbon-neutral footprint to define ethical resource acquisition for the raw materials used in these new EVs. Still, there was no such specificity at this time. Rivian’s large EV van was to be based on its second-generation Rivian Light Van platform, while Mercedes-Benz will still manufacture its large EV van in the new plant using its Van Electric Architecture.
There is no news, and to ramp up the manufacture of electric vans swiftly. Translate to a lower asking price for the client, although no pricing details were released. The recent U.S. Inflation Reduction Act outlined new rules for federal EV rebates, including strict stateside materials-sourcing requirements. EV vans built in Europe are ineligible for government incentives if shipped over and sold in the U.S.