Subject to the parties entering into final binding agreements and obtaining the relevant regulatory clearances, they intend to establish a new joint venture (JV) manufacturing company with the purpose of investing in, and operating, a factory in Europe to produce large electric vans for both Mercedes-Benz Vans and Rivian, starting in a few years. The target is to build an all-new electric-only production facility, leveraging an existing Mercedes-Benz site in Central or Eastern Europe.