Rivian nasdaq Rivn Vehicles Join Tesla Supercharger Network Stock Up 3

Rivian (NASDAQ: RIVN) Vehicles Join Tesla Supercharger Network: Stock Up 3%

Rivian Automotive (NASDAQ: RIVN) stock gained over 3% Wednesday after news of its vehicles becoming compatible with the Tesla supercharger network.

In a blog post, Rivian announced that its customers can now use select Tesla Superchargers through a complementary adapter starting Monday.

Rivian owners can now access Tesla Superchargers featuring NACS (North American Charging Standard) plugs with a complimentary Rivian or a certified NACS to CCS1 (Combined Charging Standard) adapter for charging their EVs. Rivian officially confirmed to Yahoo Finance that these changes took effect at 12:00 p.m. ET on Monday.

This development mirrors Tesla’s recent collaboration with Ford, which granted Ford EV owners access to Tesla’s extensive Supercharger network, boasting over 15,000 chargers nationwide.

The company noted,

“Compatible Superchargers will show up in Rivian navigation when you are planning trips, with charger speeds and availability information listed. You’ll also be able to ‘plug and charge’ with automatic billing. Simply plug the charger into the vehicle, and charging will begin automatically without pulling up an app.”

This initiative follows Rivian’s announcement in June to adopt Tesla’s North American charging protocol to provide its customers access to around 12,000 Tesla Superchargers across the United States and Canada by spring 2024. The decision underscores Rivian’s commitment to fostering a more interconnected and accessible charging ecosystem for EV users.

Tesla’s decision to open its Supercharger network to rival EV manufacturers, including Rivian, was revealed in February. Initially, access to the network required the use of adapters provided by the respective automakers. However, Tesla outlined plans for integrating its charging standard into vehicles, eliminating the need for adapters and further facilitating cross-compatibility among EV brands.

Rivian (NASDAQ: RIVN) Stock Performance

RIVN stock jumped 3.26% to close at $11.40 on Monday. The traders had exchanged hands with 38,962,819 (38.96 million) shares compared to the average daily trading volume of 42.69 million.