Real estate giant Caruso inked a new deal with Rivian Automotive Inc. this month, expanding the electric vehicle company’s reach by building over 150 public DC fast chargers across its properties.
Using renewable energy, the chargers will roll out over the next year. The collaboration also adds two Rivian showrooms at The Commons at Calabasas and The Americana at Brand. Besides physical additions, the collaboration will include ride-and-drive experiences across Caruso’s L.A. portfolio and free annual parking for Rivian owners under the Caruso Signature program. Rivian will return as a presenting partner for Caruso’s
25th annual holiday event, Christmas at The Grove.
“Over time, we’ve been approached by countless EV charging companies to have a footprint on our properties. But for us, it’s finding partners with aligned interests, and we feel like Rivian has those aligned interests that we’re both very focused on creating best-in-class experiences for our guests,” said Jackie Levy, chief financial and revenue officer at Caruso. “We’re very excited.”
Marc Navarro, senior manager of Real Estate at Rivian, added that the partnership “represents two companies coming together who share a deep passion for customer experience, innovation and community impact. … The Caruso portfolio allows Rivian to meet our customers where they already live, where they already shop, and where they already gather.”
While conversations about the deal started more than a year ago, Rivian shared that the collaboration coincided with the rollout of its midsized R2 vehicle this spring.
“This agreement comes at a great time,” Navarro said.
Fueling EV interest
The EV industry has faced stiff headwinds since President Donald Trump focused on fossil fuels in his energy policy. The “America first” energy plan seeks to expand domestic production of oil, coal and natural gas to strengthen the nation’s energy independence. His administration has rolled back green energy initiatives, removed methane emission rules and opened up 58 million acres of national forests for drilling.
The federal EV tax credits, a Biden-era initiative to reduce the country’s greenhouse gas emissions by allowing buyers to get up to $7,500, also expired last September. The EV business saw a massive uptick in sales in the third quarter of 2025, with 435,000 units sold. After the tax credits expired, sales dropped 46% to 234,000 units in the fourth quarter, the lowest level since 2022, according to a Seeking Alpha report in January.
The tables might turn on the dwindling industry, however. The ongoing Middle Eastern conflicts, which closed the Strait of Hormuz in late February, have caused soaring fuel crisis around the world. The price of diesel in the L.A. and Long Beach metropolitan area hit its historic high on April 8 at $7.856 per gallon, according to American Automobile Association Fuel Prices. Regular, mid-range and premium gas are all more than $1 more expensive per gallon compared to last year. The high cost of fuel caused consumers to look for alternatives. Interest in EVs spiked, despite a traditionally higher price tag.
“If you owned an EV, you’d have not only lower prices, but you’d reduce exposure to these volatile gasoline prices,” Elaine Buckberg, a former chief economist at Detroit-based car manufacturer General Motors Co., told NBC News early this month.
