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

America's car prices are at a record high. Also, a Rivian spinoff thinks its e-bikes could be an antidote to the US's SUV obsession. Bringing a full-size vehicle to the grocery store is "like we're using a 747," the president said. Cars are expensive. So, why not drive more two-wheeled options? That's what Also, a spinoff from EV-maker Rivian, is trying to convince customers. After months of delays, the company has begun delivering its $3,500 to $4,500 TM-B e-bikes to customers. "The bike is almost like a Trojan horse for what's coming," Chris Yu, the cofounder and president, told Business Insider during a sit-down interview. 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. Toyota, for example, is bringing a tiny kei truck to the US market with a max speed of 25 mph. Fiat's golf cart-like Topolino launched this summer.

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