The Clap
Rivian (NASDAQ:RIVN) has decided to not go through with its agreement with Mercedes for the joint production of electric vans in Europe.
What
The decision comes as the company continues to assess risks from its investment and whether these risks will bring in a lucrative enough return on its investments.
The company has instead opted to shift its focus to the consumer and commercial business.
So What
Despite Rivian’s decision to steer away from the agreement, Mercedes-Benz has confirmed that this will not impact its electrification strategy timeline.
Now What
Both companies confirmed that they are still open to exploring strategic opportunities with one another in the future.
