Rivian Automotive Inc (NASDAQ: RIVN) has acquired the Swedish mapping company Iternio, a developer of the 'A Better Routeplanner' (ABRP) app. The financial terms of the transaction were not disclosed.
ABRP aids in EV trip planning and has a strong community of EV drivers in both North America and Europe.
ABRP provides EV drivers the ability to plan and compare routes and charging stop options.
Rivian will integrate ABRP's technology into its in-vehicle navigation system and newly available trip planning experience in the Rivian mobile app.
Trip planning improvements will not only enhance in-vehicle navigation, but Rivian will also be introducing the ability to create trips in the Rivian mobile app.
"Beyond route planning, the data insights on where there is insufficient reliable charging will help us strategically plan where we prioritize building our Rivian Adventure Network," said Rivian founder and CEO RJ Scaringe.
Price Action: RIVN shares are trading lower by 0.14% at $14.60 in premarket on the last check Thursday.