Sources confirm that the Rivian CEO announced a team is working on a new electric bike project, although it's unclear what kind of bike CEO RJ Scaringe was referring to.
Rivian's products lean into the notion of outdoor adventuring and an active lifestyle, so an electric bike makes a lot of sense. But why would Rivian shift focus right now?
Despite being a major player in the EV world, Rivian announced layoffs after missing its 2022 production target. Is Rivian chasing additional revenue streams with this venture?
It's unclear whether the new project will entail the production of a battery-assisted bicycle (e-bike) or a fully-electric motorcycle. Scaringe has previously hinted at the former.
It's also possible that Rivian's electric bike project will add to the current accessory list available to complement the image and lifestyle offered by the R1S and R1T.
Rivian isn't alone in dabbling in the micromobility space. Porshe, BMW, and Tesla have looked into it, and Rivian's expertise should make it easy to scale down tech to a bike.
Should Rivian risk diversification or focus on existing products? Considering the challenges Rivian has faced recently, it may be safer to go all in on core products for now.