Just after generating waves with the most significant IPO of 2021, electric powered bikes could be next on the agenda for Amazon-backed electric powered automaker Rivian.
As eagle-eyed observers at Rivian Community forums pointed out earlier this week, the Irvine-based corporation has filed a new trademark covering bicycles, electric powered bicycles and an array of similar sections and factors. The trademark software could indicate that Rivian is plotting a foray into the e-bicycle space such a go would diversify its offerings with a products that would be cheaper to produce and obtain than the company’s SUVs and pickup vans.
An e-bike would also assistance Rivian keep a aggressive edge in the electrical micromobility marketplace, which is starting to be more and more crowded amongst automakers. Other major auto manufacturers that have launched or are setting up to launch e-bikes and electric powered scooters incorporate Jeep, Ford, BMW, Porsche and Mercedes-Benz.
Rivian’s emergence in the swiftly expanding EV market led to its landmark IPO in November 2021, which noticed the company’s current market valuation exceed $100 billion at 1 point—making it well worth a lot more than legacy heavyweights General Motors and Ford. Rivian is the first corporation to develop an all-electric powered pickup truck, the R1T, beating out competitors which includes rival electrical automaker Tesla. Rivian’s largest trader is Amazon, which aims to have 10,000 of the company’s electric powered supply motor vehicles on the highway by the conclude of 2022.
Following elevating additional than $12 billion by way of its IPO, Rivian announced plans to build a new $5 billion factory in Ga that would enhance its recent facility in Illinois and increase its production capabilities. On Monday, Rivian announced that it had unsuccessful to satisfy its 2021 vehicle manufacturing concentrate on shares fell just about 6% on the information.
Also on Monday, Rivian confirmed studies that Main Operating Officer Rod Copes experienced stepped down from his job.
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