Irvine-based Rivian Automotive Inc. (Nasdaq: RIVN) has signed an agreement with Tesla Inc. to provide Rivian drivers access to Tesla’s Supercharger network across the United States and Canada.
An adapter will be available to enable Rivian’s R1T and R1S to charge on the Supercharger network as early as spring 2024. Rivian will incorporate North American Charging Standard (NACS) charge ports as standard in future R1 vehicles starting in 2025, as well as in its upcoming R2 platform.
Rivian will also continue to expand its own Rivian Adventure Network.
“We’re excited to work with Tesla and to see collaborations like this help advance the world toward carbon neutrality,” Rivian founder and Chief Executive RJ Scaringe said in a statement. “The adoption of the North American Charging Standard will enable our existing and future customers to leverage Tesla’s expansive Supercharger network while we continue to build out our Rivian Adventure Network.”
Shares of Rivian today rose 5.5% to $15.70 and a $14.7 billion market cap. Shares of Tesla also climbed 5.3% to $274.45 and an $870 billion market cap.
