AT&T Adds Another Automaker to Its Wireless Scorecard

Telecom & Wireless

Published: April 16, 2014 11:10 am

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Volvo has tapped AT&T Inc. (NYSE: T) to provide wireless connectivity to its 2015 models, out later this year, in the United States and Canada. Terms of the multiyear agreement were not disclosed.

AT&T, the second-largest U.S. wireless carrier, has been perhaps the most aggressive in pursuing one of the fastest-growing new wireless markets as smartphone service reaches saturation. AT&T already has deals with General Motors Co. (NYSE: GM), Audi and Tesla Motors Corp. (NASDAQ: TSLA) to supply their wireless connectivity.

The new connection will power Volvo’s Sensus Connect system, which also is linked to its Volvo On Call service. That provides remote access to some car functions and an emergency crash notification service.

More than 20 percent of the cars sold in 2015 will have built-in connectivity, according to according to the GSMA industry association. All cars will be network connected by 2025.

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AT&T also reportedly will expand its connected car services to Asia. The company says it has an agreement with an unnamed automaker outside Asia to have cars using AT&T’s wireless services in China and other markets within weeks.

AT&T is looking to fend off rising competition from the likes of T-Mobile US Inc. (NYSE: TMUS), and it continues to buy back its shares.

Shares of AT&T were up fractionally in late morning trading Wednesday, at $35.82 in a 52-week range of $31.74 to $39.00.

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