(RIVN), Amazon.com, Inc. (NASDAQ: AMZN) – Is a Rivian electric bike on the horizon? What investors need to know about the new brand
Rivien Automobile (NASDAQ: RIVN) is focusing on electric pickup trucks and electric delivery vehicles, and may have another mode of transportation in sight.
What happened: The electric vehicle company Rivian, which has Amazon.com Inc (NASDAQ: AMZN) and Ford Motor Co (NYSE: F) among its investors, deposit a new brand that has been spotted by Rivian Forums.
The brand is focused on electric bikes and could be a new category of future growth for Rivian. The company has applied for the use of the Rivian brand for bicycles.
The registration of the Rivian trademark is intended to cover the categories of bicycles, structural parts of bicycles, electric bicycles, structural parts of electric bicycles, components of electric bicycles specially adapted for electric bicycles, namely, battery packs, motor, electric motors, throttle controls, pedal assist sensors, display consoles, wire harnesses, sprockets, cassettes, chains, bicycle frames, bicycle pedals, bicycle horns, bicycle brakes, bicycle chains, bicycle gears, bicycle wheels, bicycle seats, bicycle tires, ”according to the record.
Rivien Recount TechCrunch that he had nothing to share when asked about trademark registration.
Rivian recently filed a patent for an automotive tailgate loading system that would allow users to carry bikes on their vans without wasting bed space.
Related Link: 2 Members of Congress Now Own Rivian Stock: Here’s Who & How Much They Own
Why this is important: Electric bikes are being adopted by users at a faster rate than electric vehicles, according to Electrek. In some cases, an electric bicycle is the first electric vehicle a person owns and leads to a transition to more electric vehicles.
Sales of e-bikes have increased by more than 240% in the 12-month period ending July 2021, TechCrunch reported.
Electric bikes are also cheaper to produce on a large scale than larger electric vehicles, which could increase the revenue and profit outlook for Rivian.
Rivian was the first company to bring electric pickup trucks to the market, with its R1T hitting the market in 2021.
Companies are trademarking items that are never marketed from time to time, which means Rivian might never market an electric bicycle.
Given the company’s focus on electric vans and delivery vehicles, Rivian might look to offer an electric bike as an add-on purchase option and / or as a stand-alone item.
Porsche and Bmw are two automakers who have launched electric bicycles alongside new models of electric vehicles.
Tesla Inc (NASDAQ: TSLA) has registered trademarks for a “Cyberquad” and it is rumored that it will launch an all-electric ATV that could be offered alongside the electric vehicle giant’s Cybertruck electric pickup.
Rivian, expected to be one of the leading manufacturers of electric vehicles in the United States, said it produced 1,015 vehicles in 2021 with 920 deliveries. The company has over 71,000 pre-orders for its R1T electric pickup truck.
RIVN price action: Rivian stock rose 4.04% to $ 84.73 at noon Tuesday. The shares have traded between $ 75.13 and $ 179.46 since their IPO at $ 78 per share in November.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.