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Electric vehicle startup Rivian is reportedly working on an e-bike.according to , CEO RJ Scaringe, spoke to Rivian employees about the project at the automaker’s all-hands meeting on Friday. He said the startup had a “small group” of engineers working on the bike.
bloomberg It was not possible to confirm if Scaringe refers to electric bikes or bicycles, but Rivian has patents on cycling components and designs, the outlet said. Scaringe has said in the past that Rivian hopes to eventually expand into the micromobility market. Rivian did not immediately respond to his request for comment on Engadget.
News that Rivian may be working on electric bikes came out the same week as the company, which affects 6% of its workforce. This job cut is his second major restructuring that Rivian has implemented in less than a year. The company said the move is an effort to put Rivian on a path to long-term profitability by refocusing production of the R1T and R1S EVs. Scaringe reportedly told an employee on Friday that Rivian thinned himself out by trying to do too many things at once.
While it may not make much sense to try to expand into the e-bike market when the company isn’t yet profitable, there are compelling reasons for Rivian to pursue that strategy. Additionally, the bicycle market was growing thanks to the popularity of electric bicycles. In fact, e-bikes consistently outperform electric cars and electric trucks. It’s not surprising because it’s significantly cheaper to produce and less expensive for consumers to purchase. A bike could be just what Rivian needs to turn a profit soon.
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