The automotive industry is being revolutionized by continuous cloud connectivity, autonomous driving technologies, drive train electrification and shared mobility. These transformations are being facilitated in part by the standardized cellular technologies now commonly implemented in “connected vehicles” or “CVs”. The proportion of vehicles shipped worldwide with cellular connectivity embedded is forecast to rise from 46% in 2020 to 76% in 2026.The commercial ecosystem for CVs has significantly matured since I last wrote about it here nearly two years ago. The benefits, incremental revenues and costs now associated with the adoption of cellular technologies in vehicles are being reflected in major commercial actions by industry players and in financial markets. Incremental product revenues at a vehicle’s point of sale together with ongoing monetization opportunities in value-added services and cost savings will parallel what has been achieved in smartphones, where substantial profits are reaped beyond initial product sales and recurring network operator service fees in the app ecosystem. The value of automotive connectivity is created through improved safety features, enhanced navigation, driver assistance and automation, vehicle and driver monitoring (e.g., to adjust insurance premiums), reduced maintenance costs, in-vehicle entertainment services and over-the-air software updates for various systems.