After making waves with the biggest IPO of 2021, e-bikes could be next on the agenda for Amazon-backed electric carmaker Rivian.
As eagle-eyed watchers at Rivian Forums pointed out earlier this week, the Irvine-based company has filed for a new trademark covering bicycles, e-bikes, and a range of related parts and components. The trademark application could indicate that Rivian is planning a foray into the e-bike space; such a move would diversify its offerings with a product that would be cheaper to produce and buy than the company’s SUVs and pickup trucks.
An e-bike would also help Rivian maintain a competitive edge in the increasingly crowded electric micromobility market among automakers. Other major automotive brands that have launched or plan to launch e-bikes and e-scooters include Jeep, Ford, BMW, Porsche, and Mercedes-Benz.
Rivian’s emergence in the booming electric vehicle market led to its historic IPO in November 2021, which saw the company’s market valuation surpass $100 billion at one point, making it worth more than the legacy General Motors and Ford heavy-duty trucks. Rivian is the first company to produce an all-electric pickup truck, the R1T, beating competitors including rival electric carmaker Tesla. Rivian’s biggest investor is Amazon, which aims to have 10,000 of the company’s electric delivery vehicles on the road by the end of 2022.
After raising more than $12 billion through its IPO, Rivian announced plans to build a new $5 billion facility in Georgia that would complement its current facility in Illinois and increase production capabilities. On Monday, Rivian announced that it had missed its 2021 vehicle production target; shares fell nearly 6% on the news.
Also on Monday, Rivian confirmed reports that chief operating officer Rod Copes had resigned from his role.
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