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Rivian Automotive Inc. (NASDAQ:RIVN) vehicles reportedly can now access the supercharger network of Tesla Inc. (NASDAQ:TSLA).
What Happened: Tesla investor Sawyer Merritt shared a video of a Rivian customer confirming the announcement, stating that they were able to use the Supercharger for the second time. The compatibility now includes a plug-and-charge feature.
Tesla did not immediately respond to Benzinga's request for comment.
In the video, the customer Ryan Huber plugged the Supercharger into his Rivian, which charged up in a few seconds.
In a subsequent post, he added that the plug-and-charge is the standard 0.50/kWh and a member discount can be availed through the Tesla app.
Tesla has yet to respond to Benzinga on the development at the time of writing this article.
Why It Matters: In June, Rivian announced its decision to align with Tesla’s North America charging protocol, aiming to enhance customer access and stimulate EV growth. The move was expected to provide Rivian customers with access to 12,000 Tesla Superchargers in the United States and Canada by spring 2024.
In February, Tesla revealed its plans to open its Supercharger network to rival EV makers, including Rivian, General Motors, Volvo Car, and Polestar Automotive, starting in the spring of that year. The company stated that initially, charging on the network would require an adapter provided by the respective automakers. However, these adapters would no longer be necessary once vehicles integrate Tesla’s charging standard.
Price Action: Tesla’s stock closed at $163.57 on Friday, a 0.66% increase from the previous close. At the same time, Rivian’s stock closed at $11.04, a 3.27% increase from the previous close, according to data from Benzinga Pro.
Image via Shutterstock
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