STOCK TITAN

Verizon Business inks 5G connected-vehicle deal with teledriving car-share company Vay

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

Verizon Business and Vay Technology have announced a partnership to bring 5G connectivity to Vay's fleet of teleoperated electric vehicles in Las Vegas. Verizon will provide custom data plans to manage the massive amounts of data generated by Vay's vehicles' sensors and cameras. Vay's service allows users to order an electric car via an app, which is then delivered by a remote teledriver. Users drive themselves during the trip, and upon completion, a Vay teledriver remotely drives the car to the next customer.

The high-performance, low-latency Verizon 5G connectivity enables Vay's operational model, supporting data-intensive workloads such as mobility solutions for teleoperation-capable cars, transmitting telematics and diagnostic information, and over-the-air software updates. This partnership highlights the important role of mobile connectivity in the future of transportation and demonstrates Verizon's commitment to innovative automotive solutions.

Verizon Business e Vay Technology hanno annunciato una collaborazione per portare la connettività 5G nella flotta di veicoli elettrici teleguidati di Vay a Las Vegas. Verizon fornirà piani dati personalizzati per gestire le enormi quantità di dati generate dai sensori e dalle telecamere dei veicoli di Vay. Il servizio di Vay consente agli utenti di ordinare un'auto elettrica tramite un'app, che viene poi consegnata da un teledriver remoto. Durante il viaggio, gli utenti guidano autonomamente e, al termine, un teledriver di Vay riporta l'auto al cliente successivo.

La connettività 5G di Verizon ad alte prestazioni e bassa latenza abilita il modello operativo di Vay, supportando carichi di lavoro intensivi in termini di dati, come soluzioni di mobilità per auto capaci di teleoperazione, trasmettendo informazioni telematiche e diagnostiche, e aggiornamenti software over-the-air. Questa partnership mette in evidenza il ruolo fondamentale della connettività mobile nel futuro dei trasporti e dimostra l'impegno di Verizon per soluzioni innovative nel settore automotive.

Verizon Business y Vay Technology han anunciado una asociación para llevar la conectividad 5G a la flota de vehículos eléctricos teledirigidos de Vay en Las Vegas. Verizon proporcionará planes de datos personalizados para gestionar las enormes cantidades de datos generadas por los sensores y cámaras de los vehículos de Vay. El servicio de Vay permite a los usuarios ordenar un coche eléctrico a través de una aplicación, que luego es entregado por un teledriver remoto. Los usuarios conducen por su cuenta durante el viaje, y al finalizar, un teledriver de Vay lleva el coche al siguiente cliente.

La conectividad 5G de Verizon de alto rendimiento y baja latencia habilita el modelo operativo de Vay, apoyando cargas de trabajo intensivas en datos, como soluciones de movilidad para coches capaces de teleoperación, transmitiendo información telemática y diagnóstica, y actualizaciones de software por aire. Esta asociación destaca el importante papel de la conectividad móvil en el futuro del transporte y demuestra el compromiso de Verizon con soluciones automotrices innovadoras.

버라이즌 비즈니스베이 테크놀로지5G 연결성을 베이의 원격 조정 전기차 플릿에 제공하기 위해 파트너십을 발표했습니다. 버라이즌은 베이 차량의 센서와 카메라에서 생성되는 방대한 양의 데이터를 관리하기 위해 맞춤형 데이터 플랜을 제공합니다. 베이의 서비스는 사용자가 앱을 통해 전기차를 주문할 수 있게 하며, 그 차는 원격 운전사가 배송합니다. 사용자는 여행 중에 스스로 운전하고, 여행이 끝나면 베이의 원격 운전사가 차량을 다음 고객에게 운전해 갑니다.

고성능 저지연 버라이즌 5G 연결성은 베이의 운영 모델을 가능하게 하며, 원격 운전이 가능한 차량을 위한 데이터 집약적인 작업을 지원하고, 텔레매틱스 및 진단 정보를 전송하며, 무선 소프트웨어 업데이트를 수행하는 등의 작업을 처리합니다. 이 파트너십은 미래 운송에서 모바일 연결의 중요한 역할을 강조하고, 혁신적인 자동차 솔루션을 향한 버라이즌의 의지를 보여줍니다.

Verizon Business et Vay Technology ont annoncé un partenariat pour fournir une connectivité 5G à la flotte de véhicules électriques téléopérés de Vay à Las Vegas. Verizon proposera des forfaits de données sur mesure pour gérer les énormes quantités de données générées par les capteurs et caméras des véhicules de Vay. Le service de Vay permet aux utilisateurs de commander une voiture électrique via une application, qui est ensuite livrée par un téléconducteur distant. Les utilisateurs conduisent eux-mêmes pendant le trajet, et à l'issue de celui-ci, un conducteur télématique de Vay conduit la voiture au client suivant.

La connectivité 5G haute performance et à faible latence de Verizon permet le modèle opérationnel de Vay, soutenant des charges de travail intensives en données telles que des solutions de mobilité pour voitures capables de téléopération, transmettant des informations télématiques et diagnostiques, et des mises à jour logicielles à distance. Ce partenariat met en évidence le rôle important de la connectivité mobile dans l'avenir des transports et démontre l'engagement de Verizon envers des solutions automobiles innovantes.

Verizon Business und Vay Technology haben eine Partnerschaft angekündigt, um 5G-Konnektivität für Vays Flotte von ferngesteuerten Elektrofahrzeugen in Las Vegas bereitzustellen. Verizon wird maßgeschneiderte Datentarife anbieten, um die enormen Datenmengen, die von den Sensoren und Kameras der Vay-Fahrzeuge erzeugt werden, zu verwalten. Der Service von Vay ermöglicht es Nutzern, ein Elektroauto über eine App zu bestellen, das dann von einem entfernten Teledriver geliefert wird. Während der Fahrt fahren die Nutzer selbst, und nach Abschluss der Fahrt bringt ein Vay-Teledriver das Auto zum nächsten Kunden.

Die leistungsstarke, latenzarme Verizon 5G-Konnektivität ermöglicht Vays Betriebsmodell und unterstützt datenintensive Aufgaben wie Mobilitätslösungen für fernsteuerbare Autos, überträgt Telematik- und Diagnosedaten und führt Software-Updates über die Luft durch. Diese Partnerschaft unterstreicht die wichtige Rolle der mobilen Konnektivität in der Zukunft des Transports und demonstriert Verizons Engagement für innovative Automobillösungen.

Positive
  • Partnership with innovative car-sharing company Vay expands Verizon's presence in the connected vehicle market
  • Provides 5G connectivity and custom data plans for Vay's teleoperated electric vehicle fleet
  • Supports data-intensive, mission-critical workloads for Vay's operations
Negative
  • None.

Insights

Verizon's partnership with Vay represents a significant step in the evolution of connected vehicles and teledriving technology. This deal showcases Verizon's commitment to expanding its 5G network applications in the automotive sector, potentially opening new revenue streams. The collaboration highlights the growing importance of high-speed, low-latency connectivity in enabling innovative transportation models.

For Verizon, this partnership could strengthen its position in the industrial IoT and automotive markets, areas with substantial growth potential. The custom data plans for Vay's high-data-usage vehicles may serve as a template for future deals with other autonomous or semi-autonomous vehicle companies.

However, the success of this venture depends on several factors:

  • Consumer adoption of Vay's teledriving service
  • Regulatory landscape for remotely operated vehicles
  • Scalability of the technology across different markets

While the immediate financial impact may be , this deal positions Verizon at the forefront of an emerging technology, potentially leading to more significant opportunities as the teledriving and autonomous vehicle markets mature.

What you need to know:

  • Now live in Las Vegas, offers remotely driven electric vehicles (EV) that can be rented by the minute. When requesting a car through the app, a Vay teledriver delivers a vehicle to the user and picks it up after the journey is complete. Upon delivery, the user takes over and drives to their destination like in a regular car.
  • Verizon Business is providing 5G connectivity to Vay vehicles and custom data plans to help Vay handle the massive amounts of data generated by its teleoperated fleet.
  • Use cases include near real-time connectivity to provide mobility solutions for teledriven cars; transmitting telematics or diagnostic information from vehicles to Vay and/or Vay customers; and transmitting over-the-air updates to software and firmware in Vay vehicles.

NEW YORK and LAS VEGAS, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Verizon Business and Vay Technology today announced an agreement bringing Verizon 5G connectivity to Vay’s fleet of teleoperated electric vehicles. The deal also includes custom data plans to help manage massive amounts of data generated by Vay vehicles’ sensors and cameras.

“Vay’s unique operational model shows the importance of mobile connectivity for the future of transportation. From Vay’s app-based user interface to their high-tech teledriving command centers to the vehicle fleet itself, connectivity touches all corners of the business,” said TJ Fox, Senior Vice President of Industrial IoT and Automotive, Verizon Business. “We’re thrilled to work with a company as innovative as Vay, which can use our unrivaled network to fuel their expansions throughout the U.S.”

“Verizon’s technology has been critical for Vay’s entry into the U.S. market from Europe, and we look forward to continuing our relationship with them as we expand our commercial and B2B businesses,” said Thomas von der Ohe, Vay co-founder and CEO. “Verizon’s coverage, performance and network reliability are essential for handling the data load inherent to teleoperating our fleet to the highest standards of safety and capability.”

Vay currently operates its commercial service in Las Vegas, where users can order an electric car via the Vay app and have it delivered to them by a Vay teledriver. While in the car, the users drive themselves, just like in a regular car. When the trip is complete, they end the rental in the app, exit the vehicle, and a Vay teledriver remotely drives it to the next customer. High-performance, low-latency Verizon 5G connectivity helps enable this operational model.

Verizon connectivity is used for data-intensive, mission-critical workloads such as providing mobility solutions for teleoperation-capable cars; transmitting telematics or diagnostic information from vehicles to Vay and/or Vay customers; and transmitting over-the-air updates to software and firmware in Vay vehicles.

Visit verizon.com/connectedvehicle to learn more about Verizon’s connected automotive solutions and capabilities.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.0 billion in 2023. Verizon’s world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com/stores.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Matt Conte
matthew.conte@verizon.com
(917) 848-3040


FAQ

What is the new partnership between Verizon Business and Vay Technology for VZ stock?

Verizon Business has partnered with Vay Technology to provide 5G connectivity and custom data plans for Vay's fleet of teleoperated electric vehicles in Las Vegas, supporting their innovative car-sharing service.

How does Vay's car-sharing service work using Verizon's 5G network (VZ)?

Vay's service uses Verizon's 5G network to enable remote teledriving. Users order an electric car via an app, which is delivered by a remote teledriver. After the user's trip, a teledriver remotely drives the car to the next customer, all facilitated by Verizon's high-performance, low-latency 5G connectivity.

What are the main applications of Verizon's 5G technology in Vay's vehicles for VZ investors?

Verizon's 5G technology supports data-intensive workloads for Vay, including mobility solutions for teleoperation-capable cars, transmitting telematics and diagnostic information, and enabling over-the-air software and firmware updates to Vay vehicles.

When did Verizon Business announce its 5G connected-vehicle deal with Vay (VZ)?

Verizon Business announced its 5G connected-vehicle deal with Vay on September 24, 2024, as stated in the press release.

Verizon Communications

NYSE:VZ

VZ Rankings

VZ Latest News

VZ Stock Data

173.39B
4.21B
0.04%
64.76%
1.15%
Telecom Services
Telephone Communications (no Radiotelephone)
Link
United States of America
NEW YORK