Rivian Automotive Inc. stated late Wednesday it has actually purchased a Swedish mapping business to assist its EV owners to prepare paths and discover charging stations along the method.
The business, Iternio, is the designer of an app called “A Better Routeplanner,” which Rivian
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declared to be “a market leader” in EV journey preparation and takes pleasure in a “strong neighborhood” of EV chauffeurs in The United States and Canada and Europe. Regards to the offer were not divulged.
Rivian and Iternio will continue to preserve and enhance the app as both a standalone and incorporated into Rivian’s in-vehicle navigation system and Rivian’s mobile app, the EV maker stated. Rivian has actually sculpted a specific niche for itself by marketing its automobiles as rugged, “experience” EVs.
Shares of Rivian ended the routine trading Wednesday down almost 7%, and edged 0.5% greater in the aftermarket.
The EV maker stated previously today it had actually tattooed a handle Tesla Inc.
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so its EV owners might utilize Tesla’s fast-charging network, signing up with Ford Motor Co.
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and General Motors Co.
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in making comparable statements.
Tesla’s fast-charging requirement has actually ended up being the de facto requirement in The United States and Canada, with car manufacturers stating they will equip their cars and trucks with the ports by 2025 and will supply adapters in the meantime.
Rivian shares have actually lost 21% up until now this year, contrasting with gains of around 14% for the S&P 500 index.
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