Why Rivian Stock Is Sinking Today

11:44am, Monday, 12'th Dec 2022
Is Rivian's move to call off a deal in Europe really so bad? Here's what you should know.
Rivian Automotive Inc (NASDAQ:RIVN) is pausing its electric vehicle (EV) plans in Europe with Mercedes-Benz.
Rivian and Mercedes-Benz have paused plans to produce electric commercial vans in Europe just three months after the two automakers announced the partnership. Rivian shares fell as much as 3.4% before
Shares of Rivian (NASDAQ: RIVN ) stock opened in the red after the electric vehicle (EV) company announced that it had scrapped its plans to build EVs with Mercedes-Benz (OTCMKTS: MBGYY ). In Septembe
Electric vehicle stocks have been among the underperforming names for the year. Growth stocks have generally suffered due to contractionary monetary policies and adjustments to growth expectations.
The EV automaker is halting its plans to make electric vans in Europe.
Rivian Automotive (NASDAQ: RIVN ) fell 5% on news it is canceling plans to build an electric van in Europe with Mercedes Benz (OTCMKTS: MBGYY ). The two companies announced in September they would jo
Rivian Automotive Inc RIVN shares are trading lower Monday after the company paused partnership discussions with Mercedes-Benz on electric van production in Europe.
Deteriorating economic conditions put the plans on hold.
Rivian and Mercedes-Benz announced a joint venture in September to build large commercial electric vans. Now the deal has been put on hold.
Rivian and Mercedes-Benz announced a joint venture in September to build large commercial electric vans. Now the deal has been put on hold.
Electric vehicle maker Rivian Automotive on Monday said it won't go forward with a plan to make electric vans in Europe with Mercedes-Benz, just three months after agreeing to the pact.
Rivian said Monday it was pausing plans to manufacture electric commercial vans in Europe and would “no longer pursue” the agreement it made with Mercedes-Benz.
Rivian Automotive Inc said on Monday it is pausing its joint venture with Mercedes-Benz Vans, just three months after the companies entered a partnership to make electric vans in Europe.
The electric-vehicle maker said it wants to focus on its existing commercial-van business, as well as retail sales of trucks and SUVs.
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