Boston, MA 10/21/2013 (wallstreetpr) – Advanced electric vehicles and power-train components manufacturer, Tesla Motors Inc (NASDAQ:TSLA) has surprised its customers once again. Company has announced that it is going to work alongwith AT&T to provide high speed internet connectivity to its cars as well as its drivers.
It is worth noting that all Tesla vehicles would not have a built in AT&T network chips and devices to enable two-way connections. This connection would be used for providing roadside emergency assistance and for tracking of vehicles in case they get stolen. Additionally, it would provide the passengers with ultra high speed internet connectivity and entertainment on touch screen embedded in vehicles’ inside panels.
Tesla as a company is leaving no stone upturned in an effort to provide futuristic services to its customers. But this particular development is not a first for Tesla. General Motors already provides such services using Verizon services. But this is set to change at expiry of present contract in 2015. After that, AT&T would be providing services to GM cars too. This Connected Cars concept is a targeted effort of both vehicle manufactures and mobile service providers. The intent is to get as big as wallet share as possible from customers while they are on roads commuting. Tesla is turning out to be a pioneer in building innovative technologies for automobiles. One of the popular models of Tesla acts just like any other desktop PC. It is capable of receiving software updates and patches through a built in cellular system. Such updates are required to keep car’s operation master kit up and running in road worth condition.
This particular development did not see any knew jerk reactions from stocks of both companies. AT&T stock got bumped up by less than 100bps and those of Tesla fell by 40 basis points to close at $182.3