- Mercedes-Benz Group ADR (OTC: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 (NASDAQ: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
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