Mercedes-Benz Vans Plans To Build EV Plant In Poland: Report - Mercedes-Benz Group (OTC:MBGYY)

Mercedes-Benz Group ADR MBGYY said its vans division is planning more than a €1 billion investment to build its first electric vans plant in Jawor, Poland.
Mercedes-Benz, Reuters reported, has signed a declaration of intent with the Polish government in this regard.
The Jawor factory already produces combustion engines and batteries for Mercedes-Benz Cars.
Also Read: Mercedes-Benz Doubles Production Capacity At Untertürkheim Plant
The facility will be the automaker’s fourth in its European van production network.
The report also noted that Jowar’s expansion through a joint venture with Rivian Automotive Inc RIVN is no longer on the cards.
Also Read: Mercedes-Benz Inks Lithium Supply Agreement With Rock Tech Lithium
Price Action: MBGYY shares closed higher by 1.86% at $16.95 on Friday.
Photo Via Company