00:00I'm getting from the DoorDash connection that your business case is more about last mile delivery. Is that the case?
00:07It's quite broad. Yeah. So we were incubated within Rivian for a couple of years and just a year ago
00:13we spun out as also an entire thesis that RJ and I had in building also is around building the
00:20world's first vertically integrated and software defined EV platform that's optimized for small four factors.
00:26And that goes for consumer use cases like the fun experience on our e-bike TMB, which we launched in
00:32October, as well as importantly for commercial use cases, because we see that, you know, if you look globally, the
00:38vast majority of trips that happen for the movement of people and goods happen in really dense suburban and urban
00:44areas where cost per mile and time for deliveries is really important.
00:50So, I mean, first off, just on the bike, because it looks so cool, do you have a clutch in
00:57the hub? I mean, how does that work and how much does it cost?
01:02Yeah, our bike has a really fun and novel architecture behind it. So we have our propulsion system. It's in
01:08-house. It's called DreamRide and it's actually pedal by wire.
01:11And so when you're pedaling into it, you're pedaling into a generator that gives a really incredible force feedback that
01:19simulates the feeling of a bike, but importantly, through software allows for really an infinite set of different experiences.
01:26And so that architecture is really what underpins our vertically integrated small EV platform that is now going into these
01:34other four factors.
01:35So what's the ballpark price for the end consumer?
01:38Yeah, so TMB starts at $3,500 and you can outfit it from there. So it's a really, really highly
01:44capable product at that price point.
01:46And I guess I'm guessing DoorDash will use these as part of your partnership or you'll supply them.
01:52Is this a pilot program or is it a more meaningful path to deploy at scale?
01:59Yeah, if I back up for a second, we constructed also really, we think of our first phase of our
02:04business to address this massive wave of electrification of the existing small form factors.
02:12So if you look at how trips happen today globally, the vast majority happen in things that are smaller than
02:16a car and very few of those things are electric today.
02:19And so phase one of also is building a purpose-built EV platform to accelerate the electrification of these modes.
02:26Now, as the world becomes increasingly autonomous, we believe that factors that drive towards small form factors, meaning congestion and
02:34cost per mile, still exist.
02:36And so one of the key things about our partnership with DoorDash that we're really, really excited about is to
02:42deploy autonomous delivery at scale, utilizing these much, much more optimized smaller form factors.
02:50I see. So it's beyond the DoorDash ideas, beyond electric bikes that a human pedals and more about autonomous delivery,
02:59what, using bike lanes in urban settings?
03:01Yeah, correct. If you look at our e-bike architecture or our pedal quad architecture, these are highly capable EVs
03:09that have really car-like capabilities in some sense, meaning car-like speeds, payloads, range.
03:16And if you look at how deliveries happen, happening in relatively dense suburban urban areas, increasingly congestion and the total
03:25cost of operation of these vehicles is quite critical and quite important.
03:30And so we believe in working with DoorDash that the optimal answer often are vehicles that can traverse the intersection
03:38of roadways and road-adjacent spaces like bike lanes, shoulders, and curbsides.
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