Rivian will not be partnering with Mercedes-Benz to produce electric vans

According to a recent release from Rivian, the company plans to "pause" its partnership with Mercedes-Benz. Back in September, the two companies signed a Memorandum of Understanding to produce electric vans in Europe. Rivian has decided to prioritize its "current consumer product development roadmap" over venturing into a new endeavor.

In a recent quote, RJ Scaringe, Chief Executive Officer of Rivian, said, “We’ve decided to pause discussions with Mercedes-Benz Vans regarding the Memorandum of Understanding we signed earlier this year for joint production of electric vans in Europe. As we evaluate growth opportunities, we pursue the best risk-adjusted returns on our capital investments. At this point in time, we believe focusing on our consumer business, as well as our existing commercial business, represent the most attractive near-term opportunities to maximize value for Rivian. We share the same goal as Mercedes-Benz Vans, to help the world transition to electric vehicles, and we look forward to exploring opportunities with them at a more appropriate time for Rivian.”