Mercedes-Benz AG and Rivian Automotive Inc. plan to jointly manufacture electric vans in Europe as both companies try to share the rising costs of churning out battery-powered vehicles.
Mercedes and Rivian aim to invest in and operate a new assembly plant at an existing Mercedes facility in central or eastern Europe, the companies said Sept. 8.
“We will both benefit significantly from this joint venture,” Mathias Geisen, who heads Mercedes’ Vans business, told reporters, adding the move would help the automakers share the multibillion-euro cost of scaling up electric-van manufacturing.
