Electric automaker Rivian is developing an electric bike, according to sources speaking to Bloomberg. CEO RJ Scaringe apparently told staff about the e-bike effort during a company meeting on Friday, noting that a small team is currently working on it.
Bloomberg says it’s unclear if Scaringe was talking about a battery-assisted bicycle (aka an e-bike) or an electric motorcycle. However, Scaringe has teased an entry into micromobility in the past and the company has patents for e-bike designs and components.
Despite all the hype behind EVs, electric bikes have actually outsold electric and plug-in hybrid cars in the US since 2021. And in Europe, e-bike sales are on track to overtake the number of all cars sold, electric or not. That’s a tempting category to enter for a company trying to find a path to profitability.
E-bikes are on track to outsell all cars sold
Last week, Rivian laid off about six percent of its workforce for the second time in less than a year as part of broad cost-cutting efforts. Rivian has struggled to hit manufacturing targets amidst supply chain problems and a looming EV price war.
Despite the revenue opportunity presented by the new category, car makers have yet to find any notable success with their e-bikes despite brands like Porsche, Mercedes, Jeep, GM, Hummer, and others all giving it a go. Even e-bike darlings like Rad Power and VanMoof have struggled recently after finding success during the covid lockdowns. Would you buy a Rivian e-bike?