Rivian CEO RJ Scaringe told BI that the company tore down China's highly popular Xiaomi SU7 and found that it was a "really well executed car."

Founder and CEO RJ Scaringe will be wearing yet another hat as the company preps for arguably its most important vehicle launch -- the mass market R2 SUV -- in 2026.

Also, the micromobility startup spun out of Rivian Automotive Inc., has unveiled its first consumer product: an electric bike that will cost up to $4,500.

A report this morning detailed Rivian's plans to lay off a portion of its current workforce as it tries to conserve cash.

Rivian is known for designing its electric trucks from scratch. Now a spinout company has done the same thing for an electric bike.

Far too much of the conversation around where mobility is going next centers around electric cars. If you really want to slash pollution and create the safer, less congested cities of the future, electric bikes are arguably the much better bet.

Rivian CEO RJ Scaringe made no indication of layoffs during his chat with BI but said that the company was approaching its "most important point."

Hundreds of workers are losing their jobs as sales targets slip and executives consolidate control amid tightening economic and policy pressure