From Business Insider · Ben Shimkus · · 1m 30s
Rivian spinoff bets e-bikes fill the gap left by expensive cars
Also, spun out from EV-maker Rivian, is selling e-bikes at $3,500 to $4,500 as America's average car price hits $51,000.
In brief
Also, spun out from EV-maker Rivian, is selling e-bikes at $3,500 to $4,500 as America's average car price hits $51,000. Also, a Rivian spinoff, launched its TM-B e-bikes at three thousand five hundred to four thousand five hundred dollars, arguing high car prices create demand for cheaper transportation alternatives…
High car prices open a door for bikes
Also, a spinoff from EV-maker Rivian, is selling its TM-B e-bikes for three thousand five hundred to four thousand five hundred dollars. The average American car costs fifty-one thousand dollars.
The bike is a Trojan horse
Chris Yu, Also's cofounder and president, told Business Insider the e-bike is just the start. The company plans to offer multiple products for different transportation needs.
“The bike is almost like a Trojan horse for what's coming.”
One vehicle for every trip is wasteful
Yu argues Americans use the same cars for everything from deliveries to long trips, like using a 747 to go shopping. Different journeys need different vehicles, he says.
“like we're using a 747 to go shopping”
The perfect garage of the future
Yu envisions a household with a family SUV for long trips, an e-bike for school drop-off, and an unannounced Also product for autonomous grocery runs in ten years.
Delays taught Also a hard lesson
Also missed its spring delivery target for the TM-B and only began shipping this fall. Yu blamed surging demand for chips and circuit boards used in AI servers and robotics.
“Our customers called us out, and rightfully.”
What it means
Also, a Rivian spinoff, launched its TM-B e-bikes at three thousand five hundred to four thousand five hundred dollars, arguing high car prices create demand for cheaper transportation alternatives.
