Rivian Automotive
has paused its joint venture to build commercial vans with
Mercedes-Benz Group
in Europe just three months after it was announced. The electric-vehicle maker, whose stock has collapsed this year, may be taking a second look at investments.
Rivian (ticker: RIVN) and Mercedes-Benz (MBG.Germany) agreed to a venture in September to jointly produce large electric vans for both the EV maker and German automotive giant. It represented a move to leverage shared investments and costs to scale up production. The deal has now been paused, the companies said Monday.
Source: https://www.barrons.com/articles/rivian-pauses-mercedes-electric-van-partnership-51670840359?siteid=yhoof2&yptr=yahoo