Rivian Automotive Inc (NASDAQ:RIVN) is set to sponsor dozens of electric vehicle charging stations in Yosemite National Park and the Golden Gate National Recreation Area through a collaboration with non-profit EV charging company Adopt A Charger.
The collaboration aims to enable more emission-free transportation and support EV adoption by enhancing charging infrastructure in American national parks.
Rivian is an outdoor- and adventure-focused EV brand. Rivian owners have access to the company's own Adventure Network, which consists of charging stations the company calls "Waypoints."
Adopt a Charger said it already upgraded 13 Yosemite charging stations to Rivian Waypoints, all of which are free to the public. The second phase of the project is expected to add dozens more stations by spring 2023.
Rivian will pay for the equipment and fund 10 years of operation and maintenance under the terms of the collaboration.
Why It Matters: Rivian plans to install a total of 10,000 chargers across the U.S. and Canada by the end of 2023. The majority of chargers will be installed in Tennessee and Colorado state parks "as part of its program to provide accessible EV charging to those adventuring in America’s most beautifully preserved environments."
The collaboration with Adopt a Charger could help to accelerate the development and expand the reach of Rivian's Waypoints network.
RIVN Price Action: Rivian has traded as low as $75.13 and as high as $179.46 over a 52-week period.
The stock was down 1.76% at $78.90 Friday afternoon.
Photos: courtesy of Rivian.