GM takes orders for new e-bike but US consumers have to wait
FBN's Jeff Flock talks to General Motors President Mark Reuss about the new Chevy Silverado heavy-duty truck and the company's big investment in its plant in Flint, Michigan.
General Motors is starting to take orders for its new electronic bicycle, but U.S. consumers will to wait as the Detroit-carmaker targets several European countries for the initial launch.
The e-bike -- called ARĪV after a global campaign to find a name for the product -- will ship to Germany, Belgium and the Netherlands in the second quarter of 2019. Meld, the compact version, will cost as much as $3,164, while the folding model will cost at most $3,842.
"The crowdsourcing campaign allowed us to bring consumers into the development of our brand,” ARĪV Director Hannah Parish said in a statement. “Combine that with our products and our blend of bike and automotive talent, and the result is a unique brand DNA.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GM | GENERAL MOTORS CO. | 56.25 | -0.79 | -1.38% |
| F | FORD MOTOR CO. | 11.21 | +0.20 | +1.82% |
The battery on the ARĪV charges in roughly 3.5 hours, resulting in nearly 40 miles of ride-time. It can reach speeds over 15 miles per hour.
The company's entry into the electronic bicycle space comes as U.S. firms seek to captalize on the burgeoning mobility business. E-scooter companies like Bird and Lime have received millions in outside investment. Competitor Ford Motor Co. bought scooter-firm Spin for $100 million in November.
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GM is in the midst of laying off 14,000 workers in the U.S. amid a shift towards pickups and electric vehicles. A chunk of those laid off by the automaker could receive jobs in other plants where it is adding capacity, according to GM.