Bloomberg says Rivian Automotive CEO told staff the company is developing an electric bike

Electric vehicle maker Rivian Automotive (NASDAQ: RIVN) is developing an electric bike, Bloomberg said on Friday.

The California-based company's chief executive, RJ Scaringe, reportedly told staff the news at a companywide meeting, according to Bloomberg sources.

The publication stated that Scaringe revealed a small group of engineers is actively working on the move to expand Rivian's product lineup with an e-bike, although it is not yet clear if he was referring to a battery-electric motorcycle or bicycle.

However, Rivian has patents for electric bicycle components and designs, and Scaringe hinted at the possibility of an e-bike at a conference in October, saying Rivian has long-term aims to move into micro-mobility.

The gathering where Scaringe told staff about the electric bike plans came after another round of layoffs at the company. Scaringe reportedly told employees that the layoffs were made in a bid to refocus on ramping production of its electric vehicles and, longer-term, profitability.

By Sam Boughedda

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