BERLIN — Mercedes-Benz Vans and Rivian Automotive Inc. have signed a memorandum of understanding for a joint venture to produce electric vans in a factory in central or eastern Europe within the next few years, Mercedes-Benz Vans said on Thursday.
The companies are planning ways to produce both of their models on a joint production line, Mercedes-Benz said, adding it was also developing a new all-electric van architecture of its own called VAN.EA.
The two companies will make two large vans — one based on Mercedes-Benz’s VAN.EA platform and the other based on the Rivian Light Van electric platform — at the plant, the statement said, without disclosing the precise location.
Rivian shares rose 5.2 percent to $34.99 in late morning trading following the announcement. Rivian shares are down nearly 68 percent for the year to date.
Mercedes also said it would restructure German factories that currently build large Sprinter vans to offset higher costs for EVs. It will invest 400 millions euros ($398 million) in its factory in Düsseldorf as part of the transition. Mercedes also said it would add “an established plant from the Mercedes-Benz production network based in Central/Eastern Europe” as a third van production site, joining Düsseldorf and Ludwigsfelde, Germany.
The Mercedes plant in Kecskemet, Hungary, is likely to be on the shortlist for the joint factory.
