Rivian Adopts Tesla's Charging Standard For Electric Vehicles And Charging Solutions

Rivian announced on Tuesday that it will embrace Tesla's charging standard, giving Rivian customers access to the largest charging network in the United States and adding impetus to Tesla's bid to set the industry standard.

Rivian adopts Tesla's EV charging standard

Today we signed an agreement with @Tesla to adopt the North American Charging Standard. This opens charging for Rivian vehicles on Tesla's Supercharger network across the United States and Canada. Access starts as soon as Spring 2024. https://t.co/Z5SBOFytgy pic.twitter.com/fWOMNtpkYs

¡ª Rivian (@Rivian) June 20, 2023

Customers will be able to use 12,000 Tesla Superchargers with adapters in the United States and Canada as early as spring 2024, according to Rivian. Starting in 2025, the firm, which has its own limited network of fast chargers, will also make a Tesla-style charging outlet standard on its vehicles.

"We prefer the Tesla connector, which is more compact, and we also see it as an opportunity to leverage the charging infrastructure that they built," Rivian CEO RJ Scaringe said in an interview with Reuters.

The verdict, first reported by Reuters, is the latest in a string of victories for Tesla. On Tuesday alone, BTC Power announced that it will include Tesla's standard into its electric chargers, Texas announced that state-backed charging stations will be required to include Tesla's plug, and Hyundai Motor announced that it will examine making its vehicles more compatible with Tesla's standard. Tesla has also recently signed agreements with General Motors and Ford.

Tesla hopes to earn from selling electricity to a larger number of EV drivers

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While other manufacturers, like General Motors, get access to Tesla's charging network, Tesla hopes to earn from selling electricity to a larger number of EV drivers. Rivian's stock finished 5.5% higher in Irvine, California. Tesla stock closed up 5.3%, extending the company's gains since the Ford deal's announcement in late May to a whopping 49%.

Rivian, the manufacturer of the R1T pickup truck and the R1S SUV, has stated that it will continue to extend its own fast-charging network. It stated plans for over 3,500 charging stations in 2021.

Scaringe stated that Rivian's network will also use Tesla's standard plugs, which will open up a large cash stream from Tesla owners who use Rivian chargers. "The network will actually become cash flow positive fairly quickly," he predicts.

According to the US Department of Energy, Tesla's Superchargers account for over 60% of all fast charges available in the US.

While other electric car manufacturers want access to consistent charging to alleviate consumers' concerns about being stranded, most have avoided establishing networks because installing and maintaining them entails significant investment for still-limited returns.

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Services and other revenue, which includes Supercharger fees, accounted for slightly under 10% of Tesla's revenue in the most recent quarter. The corporation does not separate charging revenue from other revenue.

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