Rivian's spinoff thinks America's $51,000 average car price creates an opening for e-bikes

Key takeaways

• Chris Yu, the president and cofounder of Rivian spinoff Also, said the perfect garage will one day include a family SUV and an around-town e-bike.
• After months of delays, the company has begun delivering its $3,500 to $4,500 TM-B e-bikes to customers.
• As cheap new cars keep disappearing from the US market and the average vehicle transaction price hovers above $51,000, several companies see an opportunity with small vehicles.