AT&T and Rivian Team up to Reduce CO2 Emissions and Enable Smart, Connected Vehicles

Rhea-AI Summary

Rivian Automotive, Inc. (NASDAQ: RIVN) and AT&T have signed an agreement for AT&T to purchase Rivian electric vehicles (EVs) for its fleet through a pilot program aimed at cutting transport emissions. AT&T expects to begin adding the Rivian Commercial Van and R1 vehicles to its fleet in early 2024 to evaluate the ways these vehicles help improve safety, reduce costs, and cut its carbon footprint. AT&T's commercial fleet plays an important role in keeping customers connected, and piloting EVs from Rivian will allow AT&T to explore new paths in its electrification journey, contributing to the company's commitment of carbon neutrality by 2035. Rivian is also the exclusive provider of connectivity to all Rivian vehicles, in the U.S. and Canada, enabling a smarter, safer, and more connected driving experience.

Positive

• AT&T's commitment to carbon neutrality by 2035 demonstrates its dedication to sustainability and reducing emissions. The partnership with Rivian aligns with AT&T's strategy of optimizing routes, switching to hybrid and EVs, and reducing the overall size of the fleet to achieve its sustainability goals.
• Rivian's focus on safety, sustainability, and ownership cost in the design of the Commercial Van and R1 vehicles demonstrates a commitment to developing advanced technology in the sector and continually improving vehicles through over-the-air updates.

Negative

• None.

IRVINE, Calif. & DALLAS--(BUSINESS WIRE)-- Rivian Automotive, Inc. (NASDAQ: RIVN) and AT&T* have today announced that they have signed an agreement for AT&T to purchase Rivian electric vehicles (EVs) for AT&T’s fleet through a pilot program aimed at cutting transport emissions. AT&T expects to begin adding the Rivian Commercial Van and R1 vehicles to its fleet in early 2024 to begin evaluating the various ways these vehicles help improve safety, reduce costs and cut its carbon footprint.

AT&T’s commercial fleet plays an important role in keeping customers connected. Piloting EVs from Rivian will allow AT&T to explore new paths in its electrification journey, which is expected to contribute toward the company’s commitment of carbon neutrality by 2035.

AT&T has a track record of delivering sustainability results within its operations and for business customers. The company expects to reduce its fleet emissions in support of its carbon neutral commitment. Its strategy includes optimizing routes, switching to hybrid and EVs and reducing the overall size of the fleet. AT&T also uses AI to make its fleet more efficient. Overall, AT&T drives 20% fewer miles each year, reducing emissions by 51 million pounds.

In addition to Rivian collaborating with AT&T to provide fleet vehicles for a pilot, AT&T is the exclusive provider of connectivity to all Rivian vehicles, in the U.S. and Canada, enabling a smarter, safer and more connected driving experience. With AT&T connectivity, Rivian uses over-the-air software updates to consistently improve its vehicles with new features that elevate the driving experience for its customers.

The Rivian Commercial Van is designed from the ground-up prioritizing safety, sustainability and ownership cost. The Rivian Commercial Van is engineered to be one of the safest vehicles on the road today with features including automatic emergency braking, collision warnings and 360-degree visibility. The vehicles run with Rivian's in-house software stack which underpins the fleet management system, improving efficiency and contributing to a lower total cost of ownership.

Hardmon Williams, SVP, AT&T Connected Solutions said:

“We’re excited to purchase Rivian EVs for our fleet. This pilot is another important step in our ongoing efforts toward sustainability, reducing our carbon footprint and embracing a cleaner future for our operations. With advanced connectivity and a vision for a sustainable future, Rivian is setting the standard for the evolving demands of modern transportation.”

Dagan Mishoulam, VP, Strategy & Fleet at Rivian said:

“We couldn’t be happier to collaborate with AT&T as we work together to help cut emissions and protect our environment. Around a quarter of CO2 emitted in the transportation sector in the US comes from commercial vans, so it’s imperative we do all we can as soon as possible to help cut emissions. Our category defining vehicles offer some of the most advanced technology in the sector and are continually improved through over-the-air updates. We’re very much looking forward to expanding our relationship with AT&T to help them achieve their climate goals.”

*About AT&T:

We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 140+ years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at about.att.com. Investors can learn more at investors.att.com.

About Rivian:

Rivian exists to create products and services that help our planet transition to carbon neutral energy and transportation. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets. Rivian complements its vehicles with a full suite of proprietary, value-added services that address the entire lifecycle of the vehicle and deepen its customer relationships. Learn more about the company, products, and careers at www.rivian.com.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the pilot program with AT&T for the Rivian Commercial Van and R1 vehicles. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements use these words or expressions.

We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements, including, but not limited to, the important factors discussed in Part II, Item 1A, “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, and our other filings with the Securities and Exchange Commission. The forward-looking statements in this press release are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231214811011/en/

Rivian:

Harry Porter – media@rivian.com

AT&T:

Andrea Huguely – andrea.huguely@att.com

Source: Rivian Automotive, Inc.

FAQ

What is the agreement between Rivian Automotive, Inc. and AT&T?

Rivian and AT&T have signed an agreement for AT&T to purchase Rivian electric vehicles (EVs) for its fleet through a pilot program aimed at cutting transport emissions.

When will AT&T begin adding Rivian vehicles to its fleet?

AT&T expects to begin adding the Rivian Commercial Van and R1 vehicles to its fleet in early 2024.

What is AT&T's commitment in terms of carbon neutrality?

AT&T is committed to achieving carbon neutrality by 2035, and the partnership with Rivian is expected to contribute to this goal.

What role does Rivian play in the partnership with AT&T?

Rivian is the exclusive provider of connectivity to all Rivian vehicles, in the U.S. and Canada, enabling a smarter, safer, and more connected driving experience.

What are the key features of the Rivian Commercial Van?

The Rivian Commercial Van is designed prioritizing safety, sustainability, and ownership cost, with features including automatic emergency braking, collision warnings, and 360-degree visibility.

What is AT&T's strategy for reducing fleet emissions?

AT&T's strategy includes optimizing routes, switching to hybrid and EVs, and reducing the overall size of the fleet to reduce emissions.

How does Rivian continually improve its vehicles?

Rivian continually improves its vehicles through over-the-air updates, enhancing the driving experience for its customers.