Rivian's spinoff thinks America's $51,000 average car price creates an opening for e-bikes
Chris Yu, the president and cofounder of Rivian spinoff Also, said the perfect garage will one day include a family SUV and an around-town e-bike.
A Rivian spinoff company has launched the launch edition of its consumer e-bikes amid record high car prices in the United States. The average price of a vehicle in America has surpassed $51,000, prompting several companies to explore the potential of smaller vehicles. The president of the spinoff, Chris Yu, believes that e-bikes could serve as an alternative to the SUV obsession in the US market.
He argues that just as different types of planes cater to specific tasks, American roads could benefit from various vehicle options, such as e-bikes for around-town tasks and a yet-to-be-developed autonomous product for grocery runs. This year, the company began delivering its $3,500 to $4,500 TM-B e-bikes to customers, after facing delays due to surging demand for memory, chips, and high-performance circuit boards used in AI servers and robotics.
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