Rivian (RIVN.O) has purchased Swedish EV route planning software developer Iternio to add its technology to its electric trucks and SUVs and utilize its data to extend its charging network; its CEO told Reuters on Wednesday.
Rivian CEO RJ Scaringe said the deal closed in the first quarter but did not disclose its value.
On Tuesday, Reuters reported Rivian’s plan to adopt Tesla’s (TSLA.O) charging standard and build a small fast-charging network, giving customers access to the largest U.S. charging network and Rivian a significant revenue stream from Tesla users.
A Better Routeplanner (ABRP), Iternio’s app for North American and European EV users, calculates routes based on weather, charging stations, car weight, and other considerations.
Scaringe said Rivian would improve and expand ABRP as stand-alone software for other EV owners and integrate Iternio’s technology into its mobile app and in-vehicle navigation system.
“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,” Scaringe said. Data on sites without chargers or with poor performance would be very helpful.
Iternio’s consumer-facing ABRP app and back-end routing data services were founded in 2018.
“Solving broad-scale adoption of electrification requires a level of collaboration, particularly on charging, that’s not typical for automotive,” Scaringe said of the arrangements with market leader Tesla and Iternio.
