Electric truck maker Rivian confirms it is developing an electric bike.

Rivian’s CEO RJ Scaringe has confirmed that the company is developing an electric bicycle. This move aligns with Rivian’s previous actions, such as expanding their trademark to include e-bikes and hiring experienced e-bike designers. Electric bikes are known to outsell electric cars and trucks due to their affordability and lower production costs.

The decision to venture into e-bikes comes at a challenging time for Rivian, as the company has had to lay off 6% of its workforce to address cost-cutting issues while selling their electric vehicles at a loss. Despite increasing production of its electric trucks and SUVs, Rivian has struggled to reduce costs. In contrast, e-bikes offer a cost-effective alternative with fewer regulatory challenges, potentially allowing Rivian to quickly enter the market with a high-volume product.

There is also a growing movement in urban areas against large vehicles, with advocates promoting e-bikes as safer and more space-efficient alternatives. Rivian’s expansion into the e-bike market could capitalize on this trend and offset some of the resistance faced by their larger electric vehicles. The article’s author expresses enthusiasm for Rivian’s new direction and anticipates that Tesla may have missed an opportunity by not entering the e-bike space themselves.