Each partner will receive a half share, and the talks should be concluded "very quickly", said Mercedes-Benz Vans director Mathias Geisen. German Mercedes-Benz Vans and American Rivian plan to establish a joint company that would produce electric vans in Poland, Hungary or Romania.
The companies have signed a memorandum of understanding and are now preparing to produce the model on a joint production line, Mercedes-Benz announced on Thursday. Each partner will receive a half share, and the talks should be concluded "very quickly", said Mercedes-Benz Vans director Mathias Geisen.
"Our expertise in industrial production (of vans) is rich... but Rivian brings great expertise in new technology in the field of electric mobility. It's a real win-win (partnership) match," added Geisen. The two companies will produce two models of large vans, one based on Mercedes-Benz's VAN.EA platform and the other on the Rivian Light Van electric platform.
Rivian is making 100,000 electric delivery vans for Amazon
We know Rivian already has the ability to manufacture large vans since it's in the process of making some 100,000 electric delivery vans for Amazon. The agreement notes that the automakers will produce the future vans at an electric-only factory in Europe, which will be built on one of Mercedes' existing properties.
While most people may immediately assume that Rivian teaming up with Mercedes could only lead to good things, there's really no way to know how it's going to work out. We thought Rivian and Ford would work together on something magical, but that never panned out.
However, the reason some analysts are bullish about the partnership is that it's a potential gateway to Rivian creating an international presence. Wedbush analyst Daniel Ives explained: “We view this as a smart strategic move by Rivian to penetrate Europe while ramping production of the EDV [Electric Delivery Vehicle] platform to meet its long-term growth and profitability targets."