The president is hoping to make electric vehicles more affordable to turn a niche product into one with mass appeal.
They see branding opportunities as the pandemic and a desire by cities to curb traffic propel e-bike sales to new heights.
Carmakers, government agencies and investors are pouring money into battery research in a global race to profit from emission-free electric cars.
The new president has shown a welcome interest in combating climate change. But more will need to be done.
Big oil companies lost billions in 2020 because of the pandemic and face broad questions about how they will adapt to climate change and regulations.
The end of the gasoline-powered car will transform the economy.
The move, one of the most ambitious in the auto industry, is a piece of a broader plan by the company to become carbon neutral by 2040.
Rivian, which has raised another $2.65 billion, plans to sell a pickup truck and S.U.V. it has worked on for more than a decade.
Traditional automakers have struggled to sell electric cars. That could change as Ford, Volkswagen and others introduce new models.
Carmakers say new models should also help lift the industry in 2021, after a 15 percent decline in its slowest year since it recovered from the Great Recession.