Rivian Automotive shares are trading higher after the company announced it signed an agreement with Tesla to give Rivian users access to Tesla's Supercharger network.
Portfolio Pulse from Benzinga Newsdesk
Rivian Automotive shares are trading higher after the company announced an agreement with Tesla to give Rivian users access to Tesla's Supercharger network.
June 20, 2023 | 1:53 pm
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NEUTRAL IMPACT
Tesla signed an agreement with Rivian Automotive, granting Rivian users access to Tesla's Supercharger network.
While the agreement with Rivian may generate additional revenue for Tesla through Supercharger usage fees, the overall impact on Tesla's stock price is expected to be neutral in the short term, as the deal is not a major driver for Tesla's core business.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Rivian shares are trading higher after signing an agreement with Tesla for access to the Supercharger network.
The agreement with Tesla allows Rivian users access to the extensive Supercharger network, increasing the attractiveness of Rivian's vehicles and potentially boosting sales. This positive news is likely to drive Rivian's stock price higher in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100