Rivian Automotive (NASDAQ:RIVN) is in discussions to snap up EV route planner A Better Route Planner (ABRP), according to Electrek. ABRP is a subsidiary of Iternio.
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While financial terms remain under wraps, an announcement is expected soon. The outlet added that Rivian currently has no plans to wind down either the front-end service or the backend service for owners of other EVs.
Further, Rivian presently utilizes Mapbox in its mapping engine and it could be integrated with data coming in from ABRP. Rivian shares have now gained nearly 19% over the past month. At the same time, short interest in the stock still stands at about 12.4%.
Overall, the Street has a $21.14 consensus price target on Rivian alongside a Moderate Buy consensus rating. This points to a hefty ~37% potential upside in the stock.
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