Rivian (RIVN) plans to bolster its Adventure Network EV chargers with headwinds from the IRA bill. The EV maker is taking a page from Tesla’s playbook in opening up its charging network to non-Rivian drivers as early as next year.
After several years of rumors and speculation the EV leader would open its charging network, Tesla finally opened its first Supercharger stations to other brands in the US earlier this year.
The chargers have an included CSS adapter to work with non-Tesla models, opening up what many consider to be the best DC fast-charging network across the US.
Shortly after, Rivian took advantage of it by integrating Tesla Supercharger locations with a Magic Dock into its vehicle navigation app through a software update.
While most automakers rely on third-party operators, Rivian has taken a similar approach to Tesla by building out its own EV charging network, called the Adventure Charging Network. Although still in its early stages of deployment, Rivian plans to install thousands of DC fast chargers that will soon be open to other brands.
Rivian is opening up its EV charging network, like Tesla
Rivian CEO RJ Scaringe said on the WVFRM podcast earlier this month that the company decided to build out its own network after realizing the underinvestment in public charging.
The Rivian Adventure network is a DC fast-charging network with around 30 sites across the US, with each spot consisting of six fast chargers. The stations are designed for future products with future charging output capabilities of over 300 kW, though it is around 220 kW today.
Rivian plans to have around 600 stations with 3,500 DC fast chargers in the US within the next two years, prioritizing connecting the East and West coast.
Scaringe says Tesla’s EV charging network is one of the best options available today, and Rivian strives to not only match Tesla’s number of chargers but also the reliability and uptime with its own.
Although Rivian’s network is only available to Rivian customers right now, Scaringe said the company would open it up to help promote EV adoption with a seamless charging experience.
Rivian’s CFO Claire McDonough also publicly stated the automaker will open its charging network, possibly by 2024.
Rivian is stressing the importance of uptime and reliability with its network, which has been a problem with third-party stations like Electrify America.
Despite burning through $1.4 billion in cash in the fourth quarter, Rivian says it will be funded through 2025. McDonough hinted that Rivian might be able to use government funding to build out its charging network.
Rivian’s CFO said at a recent Bank of America fireside chat, “We’re working toward opening our charging network as well. That will allow us to have access to some of those government funds.”
The government funding McDonough refers to is the $7.5 billion investment from the Bipartisan Infrastructure law designated to build a nationwide EV charging network.
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