Rivian suspended negotiations with Mercedes-Benz after planning to build an electric van

CTOnews.com, Dec. 13 (Xinhua)-- Electric car startup Rivian has announced that it has suspended negotiations with Mercedes-Benz on a partnership with Mercedes-Benz to build electric box vans in Europe, the Wall Street Journal reported.

CTOnews.com learned that Rivian and Mercedes-Benz said in September that they were in talks to set up a joint venture at a Mercedes-Benz plant in Poland. The plant was supposed to use van trucks for the two carmakers.

However, Rivian executives have been wary of overexpanding their business because of tight capital markets and concerns about the economy.

Rivian suspended joint venture talks with Mercedes-Benz after re-evaluating growth opportunities and choosing to focus on projects that are expected to achieve the best return on investment, local time said in a statement.

According to the data, Rivian produced 7363 vehicles in the third quarter of 2022, up 67% from a year earlier and delivered 6584 vehicles. As of September 30, the company had produced more than 15000 cars.