Rivian makes deal with Tesla to adopt its EV supercharger (Video)

in the meantime Evie maker rivian Shares are trading a slightly higher this morning up about two percent after an announcement they have agreed to adopt Tesla's charging standard Ford and General Motors struck similar deals in recent weeks securing access to Tesla's expansive North American charging Network joining me now Yahoo finance is Professor Romanian who covers the Auto industry for us so Tesla keeps you know racking up these Partnerships I'm still wrapping my head around what it all means it's I mean investors interestingly seem to like this for rivian yeah I mean it's another Domino's fallen in this this whole sort of charging landscape here where basically Tesla's nacs standard is now going to become I mean I I think it's going to become the default standard for North America we had GM signing on you have Ford signing on and now rivien saying that in 2024 they'll be able to access the charge Network in addition to the fact that in 2025 newer vehicles are going to add a native Tesla Port the nacs port in the car so they can go directly to the Tesla Network without having to use an adapt so that's a big deal I think Ruby and saw all that they needed to hop on board in order to sell their vehicles to people that want to use that Network that's 12 000 superchargers they're reliable they're they're available you gotta hand it to Tesla there they actually made a strong Network and everyone wants a piece of it after Ford's you know ticked it off they began that whole process so here we are I think that's a key driver here is is is that reliability and access to that Network that everyone wants and so at the in the future like I said look at the side of my MacBook right and it has all these different size ports is that effectively What car what electric vehicles are going to be like or will it be one port in various dongles that you have to adapters to get up yeah I think onto the thing it seems like it's just it's not possible to have like multiple ports like you have on your computer on a car it's a lot of electrical sort of Hardware just have one use adapters unfortunately yeah we have a trunk for that but I think the bigger the bigger story for me is that the fact that the the Tesla network is easier to use because you just plug it in and it knows your car it has your billing information you just plug it in there's no app there's no like I gotta type this stuff in it's it's it's so clean so I guess also a big part is ease of use for their network is a big differentiator for people wanting to use it interesting um let's move to the Legacy law automakers on another issue U.S lawmakers are meeting with Ford and General Motors Executives in Detroit today about the automaker's Reliance on China especially in the electric vehicle space to get their parts that they need because the automakers don't want them to go to China but to the automakers have a choice no and is it's for congressmen that are going up to Michigan to tell you know Mary Barra and Jim Farley can you guys stop using Chinese materials and they're going to say well we have these massive targets we got hit by 2025 and 2026. we don't have lithium capability here in the U.S um we need to get that from someplace else we need to get certain parts from China as well so we can't do much yet uh it's changing they're building a lot of factories now in the states and you're seeing some lithium coming on board in the U.S but not for a while so that's not going to happen anytime soon and if you're if you're four right you sign that big deal with catl to build a battery plant in Michigan that you're going to license the technology from from catl you're going to own the plant you're going to hire the workers everything else is run by four so they're saying hey you know what we got the technology we can see how they make it we have access to the actual their planning so this to them this is a good thing but for people like Marco Rubio and other other senators and other congressmen they don't want that partnership they don't want that tie up here in the states so that's kind of when is that plant going to be uh 20 25 or 2026 so it's going to take a while to your point it's not like it's happening tomorrow okay no thanks appreciate it