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Old 6th February 2023, 17:01   #1
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Rivian electric bicycle under development, confirms CEO

Rivian will soon enter the electric bicycle market. The company has confirmed that the development of its first e-bicycle has received a green light.

Speaking at a company-wide meeting, CEO RJ Scaringe officially announced the brand's entry into the electric bicycles segment. The company is said to have already filed to expand its trademarks to cover electric bicycles.

Rivian electric bicycle under development, confirms CEO-rivian.jpg

Rivian has poached multiple high-level e-bike designers from major brands and has been bulking up its bicycle design team. Scaringe went on to say that the electric bicycle wasn't just a plan but that the first model was already under development in-house.

Electric bicycles have lower regulatory hurdles. Hence, it could help Rivian reach the market faster with a much higher volume model to complement its larger EVs. With the launch of its first e-bike, Rivian will join a list of automotive brands like Porsche to expand into the electric bicycle market.

The move comes amidst tough times for Rivian, who recently announced that it would lay off 6% of its workforce due to cost-cutting issues. The company has been ramping up production of its R1T and R1S models over the last year but is struggling to bring down its cost.

Source: Bloomberg

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Last edited by RahulNagaraj : 6th February 2023 at 17:02.
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Old 7th February 2023, 21:14   #2
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Re: Rivian electric bicycle under development, confirms CEO

Ford sold 91 million shares of EV startup Rivian last year i.e. in 2022.
Rivian is laying off big number of employees. In fact I have received couple of CVs of ex-Rivian guys who were working at its Michigan office, which is near to me.
I hope Rivian will do better in near future & will have a healthy competition to giant brands.
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