AT&T And Rivian Team Up To Reduce CO2 Emissions And Enable Smart, Connected Vehicles
Portfolio Pulse from Benzinga Newsdesk
Rivian Automotive, Inc. (RIVN) and AT&T (T) have announced a partnership where AT&T will purchase Rivian electric vehicles for its fleet, starting in early 2024. This initiative is part of AT&T's strategy to achieve carbon neutrality by 2035 and includes optimizing routes, using AI for efficiency, and reducing fleet emissions. Rivian will also benefit from AT&T's exclusive connectivity provision for its vehicles in the U.S. and Canada, enhancing the driving experience with over-the-air updates.
December 14, 2023 | 1:14 pm
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Rivian Automotive is set to supply electric vehicles to AT&T's fleet, which could increase vehicle sales and enhance brand visibility. The partnership also solidifies Rivian's role as a provider of connected EVs with AT&T's exclusive connectivity.
The agreement with AT&T is likely to have a positive short-term impact on Rivian's stock as it promises increased sales and reinforces Rivian's position in the commercial EV market. The deal also highlights Rivian's capabilities in vehicle connectivity, which may attract further interest from investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
AT&T's commitment to electrifying its fleet with Rivian EVs aligns with its carbon neutrality goals and may lead to operational cost savings. The partnership also showcases AT&T's role in vehicle connectivity, potentially opening new revenue streams.
AT&T's stock may see a positive short-term impact due to investor approval of its sustainability efforts and potential cost savings from an electrified fleet. The exclusive connectivity deal with Rivian could also be seen as a strategic advantage, possibly leading to new business opportunities.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70