Rivian Automotive, Inc. (RIVN) stock is soaring 5.10% in pre-market trading on Thursday, following news that Ionna, a joint venture of major automakers, plans to integrate Rivian vehicles into its Plug & Charge network by the end of 2026.

Ionna, a collaboration between Honda, Stellantis, Toyota, and other manufacturers, announced its intention to expand its Plug & Charge infrastructure to include Rivian and Ford vehicles. This move is part of a broader initiative that involves a planned investment of more than $250 million in infrastructure across California over the next three years.

The integration of Rivian vehicles into the Plug & Charge network is seen as a significant boost for the electric vehicle manufacturer, potentially enhancing the appeal of its products to consumers by offering a more seamless charging experience. This development could strengthen Rivian's position in the competitive EV market and contribute to its long-term growth prospects.