Rivian Electric Vehicles Gain Access to Tesla Supercharger Network
Rivian Automotive Inc. RIVN vehicles have reportedly been granted access to use the supercharger network of Tesla Inc. TSLA.
The Power Shift: What Happened
What Happened: Tesla investor Sawyer Merritt shared a video of a Rivian customer confirming that they were successfully able to utilize the Supercharger for a second time. The recent development now includes a plug-and-charge feature for Rivian vehicles.
Embracing Change: Why It Matters
Why It Matters: In June, Rivian made a strategic decision to align with Tesla’s North America charging protocol as a means to improve customer accessibility and foster electric vehicle growth. This alignment was projected to provide Rivian customers access to a network of 12,000 Tesla Superchargers across the United States and Canada by spring 2024.
Rivian’s move comes after Tesla announced in February its intention to open its Supercharger network to competing electric vehicle manufacturers such as Rivian, General Motors, Volvo Car, and Polestar Automotive. Initially, utilizing the network would require an adapter from the respective automakers, but full integration with Tesla’s charging standard intended to eliminate the need for these adapters.
Charging Forward: Price Action
Price Action: Tesla’s stock closed at $163.57 on Friday, marking a 0.66% increase from the previous close. Meanwhile, Rivian’s stock closed at $11.04, reflecting a 3.27% increase from the prior trading day, according to data from Benzinga Pro.
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