Rivian and Mercedes-Benz are planning a joint venture to produce electric vans, including a new production line at a Mercedes facility in Europe.
The move comes as Rivian, which already supplies electric delivery vans to Amazon, works to scale up production after a rocky start this year owing to supply chain disruptions. The Irvine, California-based company, which also counts Ford as an investor, is the best-funded automotive startup in U.S. history. It saw its market cap surge after going public last year, becoming one of the world’s most valuable automakers, before a slow production start triggered a stock selloff earlier this year.
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I will live in one of these one day. 😎
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