Rivian, the electric vehicle (EV) manufacturer, has announced its acquisition of Iternio, a Swedish EV route planning app maker. This strategic move aims to integrate Iternio’s advanced technology into Rivian’s electric pickups and sport utility vehicles, while also leveraging its data to enhance Rivian’s charging network expansion.
Rivian CEO RJ Scaringe confirmed the completion of the deal in the first quarter, without disclosing its value. The acquisition aligns with Rivian’s recent decision, reported by Reuters, to adopt Tesla’s charging standard alongside its own fast-charging network. This strategic collaboration allows Rivian to tap into the vast Tesla charging network and generate additional revenue from Tesla users.
Iternio’s renowned app, A Better Routeplanner (ABRP), is highly popular among EV owners in North America and Europe. ABRP offers comprehensive route calculations, considering factors such as weather conditions, charging stops, and vehicle weight. Rivian plans to invest in the growth and enhancement of ABRP as a stand-alone app for users of various EV brands, while also integrating Iternio’s cutting-edge technology into Rivian’s mobile app and in-vehicle navigation system.
Scaringe emphasized the value of the active user base and the data it provides, enabling Rivian to strategically develop its charging infrastructure. Identifying locations lacking chargers or with underperforming charging stations becomes easier with this valuable data.
Founded in 2018, Iternio operates in two sectors: the consumer-facing ABRP app and a back-end service providing routing data for other entities. Rivian’s collaboration with market leader Tesla and the acquisition of Iternio highlight the importance of collaboration in achieving widespread EV adoption, particularly in the realm of charging infrastructure.
“Solving broad-scale adoption of electrification requires a level of collaboration, particularly on charging, that’s not typical for automotive,” Scaringe commented, emphasizing the significance of these partnerships.
