AT&T Partners with Rivian and Cisco to Boost Connected Vehicle Services
AT&T has partnered with Rivian to provide connectivity for its upcoming R2 electric vehicle platform, and also announced a multi-party collaboration with LiveOne and Cisco to expand in-car entertainment and connectivity services. These moves are aimed at driving new revenue streams from future mobility.
Key Numbers
AT&T (NYSE:T) has announced a new connected vehicle partnership with electric vehicle maker Rivian, centered on the upcoming R2 platform. The company also revealed a multi-party collaboration with LiveOne and Cisco (NASDAQ:CSCO) to expand its in-car entertainment and connectivity services.
Partnership Details
- Rivian Partnership: AT&T will provide connectivity services for the R2 platform, enabling features such as over-the-air (OTA) updates and other connected services.
- LiveOne and Cisco Collaboration: Aims to integrate streaming services and entertainment content into vehicles, leveraging AT&T's network and Cisco's communication platform.
Context
These partnerships come as AT&T seeks to diversify its revenue streams and capitalize on its network in the smart mobility sector. AT&T's stock currently trades at around $22.5 per share, with mixed recent performance.
What This Means for Investors
The agreements represent a strategic move for AT&T to strengthen its presence in the connected vehicle market, which is expected to grow significantly in the coming years. However, the deals are still in early stages, and the potential revenue impact remains unclear.
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