Mercedes-Benz and Rivian are working together to produce electric trucks on a large scale in Europe.
The joint venture announced Thursday will help each automaker scale up its own large battery-electric truck business as Mercedes-Benz plans to phase out gasoline-powered trucks by 2025. .
The news sent Rivian shares up 9% in morning trading.
Together, the companies plan to build and operate a plant in Europe to produce trucks for both brands. According to Mercedes-Benz, the partnership will go into production in the next few years. The new EV plant will be located near one of Mercedes-Benz’s existing plants in Europe and serve as Rivian’s first international presence. Mercedes won’t reveal the exact location, except to say it’s in Central or Eastern Europe.
Mercedes-Benz, which is gearing up to launch its next-generation all-electric Sprinter van next year, produces four electric vans – eVito Panel Van, eSprinter, eVito Tourer and EQV – in addition to the new eCitan and the upcoming EQT debut. .
The agreement, subject to regulatory clarity, will help each company capitalize on investments and expenses. The truck will be based on Mercedes-Benz’s VAN.EA electric valve platform and on Rivian’s second-generation Rivian Light Van (RLV) platform.
“Mercedes Benz is one of the most famous and respected automotive companies in the world, and we believe that working together to produce truly superior electric trucks not only benefits our customers. our own but also benefit the planet,” Rivian CEO RJ Scaringe said in a statement.