Rivian Announces Deal with AT&T for Electric Fleet Purchase\n\nRivian Automotive Inc (NASDAQ:RIVN) has recently announced its first deal with AT&T Inc (NYSE:T) for the purchase of its electric commercial vans, R1T pickup trucks, and R1S sport utility vehicles. This marks a significant milestone for Rivian as it expands its customer base beyond its exclusive relationship with Amazon.com Inc (NASDAQ:AMZN).\n\nAT&T has been making efforts to lower costs, cut carbon emissions, and improve safety, and this partnership with Rivian is a part of that journey. While the exact number of vehicles purchased and the financial terms of the deal were not disclosed, it is clear that AT&T will be adding Rivian’s electric fleet to its existing commercial fleet. This is a significant move for AT&T, as it looks to transition its vehicles to alternative fuels like compressed natural gas.\n\nMeanwhile, Rivian is enjoying increased demand for its electric vehicles, with the company recently raising its overall 2023 production target to 54,000 units. This includes fulfilling its commitment to Amazon to deliver 100,000 electric vans by the end of the decade. Facing competition from other electric vehicle makers like Tesla Inc (NASDAQ:TSLA) and Ford Motor (NYSE:F), Rivian remains confident in its ability to meet this target and continue to grow its customer base.\n\nThe recent release of Tesla’s long-anticipated Cybertruck has intensified competition in the electric pickup market. This could also present an opportunity for Rivian. While Tesla’s unique design and lower starting price may pose a challenge, the Cybertruck’s entry into the market could also generate more interest and demand for electric pickups, benefiting Rivian as well.\n\nIt’s worth noting that even established automakers like Ford have faced challenges in the EV market, with the company recently halving its production forecast for its electric F-150 Lightning due to weaker than expected demand. This highlights the challenging macroeconomic environment that all electric vehicle makers are facing, including Tesla.\n\n Rivian’s partnership with AT&T is a significant milestone for the company, as it expands its customer base beyond just Amazon.

” Rivian Announces Deal with AT&T for Electric Fleet Purchase\n\nRivian Automotive Inc (NASDAQ:RIVN) has recently announced its first deal with AT&T Inc (NYSE:T) for the purchase of its electric commercial vans, R1T pickup trucks, and R1S sport utility vehicles. This marks a significant milestone for Rivian as it expands its customer base beyond its exclusive relationship with Amazon.com Inc (NASDAQ:AMZN).\n\nAT&T has been making efforts to lower costs, cut carbon emissions, and improve safety, and this partnership with Rivian is a part of that journey. While the exact number of vehicles purchased and the financial terms of the deal were not disclosed, it is clear that AT&T will be adding Rivian’s electric fleet to its existing commercial fleet. This is a significant move for AT&T, as it looks to transition its vehicles to alternative fuels like compressed natural gas.\n\nMeanwhile, Rivian is enjoying increased demand for its electric vehicles, with the company recently raising its overall 2023 production target to 54,000 units. This includes fulfilling its commitment to Amazon to deliver 100,000 electric vans by the end of the decade. Facing competition from other electric vehicle makers like Tesla Inc (NASDAQ:TSLA) and Ford Motor (NYSE:F), Rivian remains confident in its ability to meet this target and continue to grow its customer base.\n\nThe recent release of Tesla’s long-anticipated Cybertruck has intensified competition in the electric pickup market. This could also present an opportunity for Rivian. While Tesla’s unique design and lower starting price may pose a challenge, the Cybertruck’s entry into the market could also generate more interest and demand for electric pickups, benefiting Rivian as well.\n\nIt’s worth noting that even established automakers like Ford have faced challenges in the EV market, with the company recently halving its production forecast for its electric F-150 Lightning due to weaker than expected demand. This highlights the challenging macroeconomic environment that all electric vehicle makers are facing, including Tesla.\n\n Rivian’s partnership with AT&T is a significant milestone for the company, as it expands its customer base beyond just Amazon.”$F2023-12-18T17:12:43.996Z

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