Rivian’s (RIVN) Collaboration With AT&T Positions It for Growth
Electric vehicle maker Rivian Automotive RIVN has joined forces with telecom giant AT&T T. The deal with AT&T, set to be launched in early 2024, involves the integration of RIVN’s EVs into AT&T’s operational fleet. The collaboration is a testament to Rivian’s commitment to sustainability and innovation in the EV sector and also positions AT&T at the forefront of the eco-friendly corporate movement.
AT&T’s plan to incorporate EVs into its fleet is a key component of its broader ambition to achieve carbon neutrality by 2035. The tie-up will see the telecom leader integrating Rivian’s commercial vans and the much-anticipated R1 EVs into its operations.
The alliance between Rivian and AT&T extends beyond the mere purchase of EVs. In a strategic move, AT&T has been designated as the exclusive connectivity provider for all Rivian vehicles across the United States and Canada. This crucial role involves delivering over-the-air software updates, enhancing vehicle features and elevating the overall driving experience for Rivian’s customers. This partnership reflects a deep integration of AT&T’s connectivity solutions with Rivian’s advanced vehicle technology.
The core of this deal lies in both companies’ commitment to sustainability. Rivian, known for its innovative approach to EVs, is set to play a crucial role in reducing carbon emissions, especially given that commercial vans significantly contribute to CO2 emissions in the transportation sector. Hardmon Williams, senior vice president of AT&T’s Connected Solutions, emphasized the importance of this pilot program in AT&T’s journey toward a cleaner and more sustainable future.
After the conclusion of its exclusivity pact with Amazon AMZN, this deal with AT&T showcases Rivian’s appeal to a wide range of corporate clients.
Rivian remains committed to delivering 100,000 vans ordered by Amazon by 2030. The ongoing relationship with Amazon, coupled with the new deal with AT&T, underscores Rivian’s growing influence in the EV market.Top of Form
Rivian currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Original: Investing Feed: Rivian’s (RIVN) Collaboration With AT&T Positions It for Growth