We might have gotten a first look at electric automaker Rivian Technologies Inc.'s (NASDAQ:RIVN) upcoming electric bike, made by micromobility company Also Inc., which spun off from the automaker.
Also Inc.'s First Product Is An Electric Bike
New images surfaced online showcasing the purported electric bike in silver, Electrek reported on Wednesday. The images were obtained from an upcoming promotional video or commercial, the report suggests.
The pictures showcase a traditional bike design with front and rear suspension in view with a headlight as well as 20" wheels and a brake disc visible in the front. There is a solid object near the pedals of the bike, which could be where the batteries are stored. According to Also's website, the company recently finished a major product shoot and has teased October 22nd as the release date for the electric bike.
Also's Billion-Dollar Valuation, Rivian's Georgia Plant
The news comes as Also recently secured a $1 billion valuation after its latest funding round, which saw the company raise over $200 million. Rivian retains a minority stake in the company and other investors include Eclipse Ventures, which has invested in other companies like autonomous driving startup Wayve.
Meanwhile, Rivian recently broke ground on a $5 billion Georgia plant, which the company says would play a crucial role in the production of the upcoming Rivian R2 crossover SUV.
Rivian Layoffs
However, the company also announced layoffs before the launch of the R2 Crossover SUV. The EV company has reportedly laid off 1.5% of its workforce in an effort to reduce costs amid a $100 million revenue shortfall due to the Trump administration making ZEV credits effectively redundant.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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Photo courtesy: by Michael Berlfein via Shutterstock
