Rivian Completes Acquisition of Route Planning App Maker Iternio

Rivian has acquired Swedish EV route planning app maker Iternio to add its technology to its electric pickups and sport utility vehicles, as well use its data to better expand its own charging network, its CEO told Reuters on Wednesday.

Rivian CEO RJ Scaringe did not disclose the value of the deal but said it was closed in the first quarter.

This comes after Reuters reported first on Tuesday on Rivian’s plan to adopt Tesla’s charging standard for its vehicles as well as its own small fast-charging network, which will give customers access to the biggest U.S. charging network and Rivian a significant revenue stream from Tesla users.

Read the source article at finance.yahoo.com