Rivian Automotive Signs With AT&T To Sell EV

(RTTNews) - Rivian Automotive, Inc. (RIVN) Thursday announced that they have signed an agreement to sell Rivian electric vehicles to telecom major AT&T (T).

The financial details of the deal are not yet known.

Through a pilot program aimed at cutting transport emissions, AT&T will add Rivian Commercial Van and R1 vehicles to its fleet in early 2024 and begin evaluating the various ways these vehicles help improve safety, reduce costs, and cut its carbon footprint.

Rivian is hoping that this deal will help AT&T reach its commitment of carbon neutrality by 2035.

The Rivian Commercial Van is engineered to be one of the safest vehicles on the road having features like automatic emergency braking, collision warnings, and 360-degree visibility, as per the company.

Additionally, AT&T is the exclusive provider of connectivity to all Rivian vehicles, in the U.S. and Canada. The electric vehicle company uses AT&T connectivity for its over-the-air software updates.

In pre-market activity, Rivian shares are trading at $20.24, up 2.85% on the Nasdaq and AT&T shares are trading at $16.53 up 0.52% on the New York Stock Exchange.