Rivian, the American electric vehicle (EV) manufacturer, has made a significant move to bolster its electric pickup and sport utility vehicle (SUV) offerings while expanding its charging infrastructure. In a recent exclusive interview with Reuters, Rivian CEO RJ Scaringe revealed that the company has successfully acquired Iternio, a Swedish EV route planning app maker. The acquisition of Iternio aims to integrate its cutting-edge technology into Rivian’s EV lineup and utilize its valuable data to enhance Rivian’s own charging network.
Although the financial details of the deal remain undisclosed, Scaringe confirmed that the acquisition was finalized during the first quarter. The move comes in the wake of a recent report by Reuters, which broke the news that Rivian intends to adopt Tesla’s charging standard for its EVs. Additionally, Rivian plans to establish its own small fast-charging network, offering customers access to the largest charging network in the United States and generating substantial revenue through its collaboration with Tesla.
Iternio’s flagship app, A Better Routeplanner (ABRP), has gained a strong following among EV owners in North America and Europe. This popular app provides comprehensive route calculation services that take into account various factors, including weather conditions, charging stops, vehicle weight, and more. Rivian has expressed its commitment to investing in the growth and improvement of ABRP as a stand-alone app, catering to users of other electric vehicles. Furthermore, Rivian aims to integrate Iternio’s advanced technology into its own mobile app and in-vehicle navigation system, further enhancing the overall user experience.
In the interview, Scaringe highlighted the importance of leveraging the active user base of Iternio’s app, stating, “The data that comes off of having a very active user base allows us to be very intentional as to how we build out a charging infrastructure.” Rivian plans to utilize the wealth of data collected by Iternio to strategically identify areas lacking sufficient charging infrastructure and address any underperforming charger locations. By doing so, Rivian aims to optimize the charging experience for its customers and enhance the accessibility and convenience of EV ownership.
Founded in 2018, Iternio operates two distinct lines of business: the consumer-facing ABRP app and a back-end service providing routing data to external entities. Scaringe emphasized the significance of collaboration in the EV industry, particularly in the realm of charging infrastructure. He stated, “Solving broad-scale adoption of electrification requires a level of collaboration, particularly on charging, that’s not typical for automotive.” Rivian’s recent partnerships with industry leader Tesla and the acquisition of Iternio underscore the company’s commitment to advancing the EV ecosystem through strategic collaborations and technological integration.
With the acquisition of Iternio, Rivian has taken a notable step towards fortifying its position in the EV market. By incorporating Iternio’s state-of-the-art technology and leveraging its extensive data, Rivian is poised to revolutionize its charging infrastructure, offering a seamless and efficient charging experience to its customers. The move further exemplifies Rivian’s dedication to pushing the boundaries of innovation in the EV industry, solidifying its role as a major player in the electrification revolution.
