Review: Rivian-backed Also e-bike is a fun, powerful solution for urban mobility. But it will cost you.

Rivian's (RIVN) Also e-bike spin-off got a recent vote of investor confidence, but the big question is whether its innovative tech can give it a boost over other rivals, many of whom have flamed out.

Also gave reporters a chance to try out the TM-B, aka "transcendent mobility bicycle," out of Rivian's retail "space" in Brooklyn's Williamsburg neighborhood.

The electric pedal assist TM-B has some interesting tech going for it. At its core, there are two versions: a Standard version ($3,500) and a Performance version ($4,500). The standard version has a 400 Wh battery, good for 50 miles or so of range, and a max power setting of "5," meaning it has the power of five riders, an Also spokesperson said.

The Performance variant has a battery slightly over 800 Wh, giving approximately 100 miles of range and a max power rating of 10.

The TM-B's batteries are removable for ease of charging, but that's something a lot of e-bikes currently offer. The TM-B's true innovation is its pedal-by-wire, or DreamRide, system. 

Also calls DreamRide a "seamless integration of a series hybrid drive unit and software." In essence, there is no direct mechanical connection between pedaling and the bike's movement; pedaling is converted into electricity by a small generator and stored in the bike's battery. 

Based on the rider's preference for smooth or fast riding, the TM-B's software then drives a separate motor to move the wheels via a rubber belt. 

With a lower power level, more of the rider's pedal effort is converted into energy to power the bike forward; at higher power levels, an extra boost is provided by the battery. 

Very innovative stuff. Like other e-bikes, the TM-B also has a thumb lever on the right handlebar to give a full boost from the battery, meaning pedaling isn't required (but power drains faster). The bike also has a regenerative braking system, which recharges the battery at lower stopping power levels.

Driving the Also TM-B around Brooklyn was generally effortless. At lower levels of power (for example, 5), the boost from the battery was decent, but it still required some pedal effort. At max power (10), pedaling required very little effort, if any, and the bike zipped along at its max speed of 20mph. 

Using the thumb lever on the handlebar delivered a modulating amount of electric power. At full throttle, you could zip around town at 20mph quite easily — perfect for darting in and out of traffic, or getting a boost over the Williamsburg Bridge. 

The low placement of the battery near the pedals gave the bike a low center of gravity and easy maneuverability, as well as a full suspension system, and the upright seating position maximized comfort. Compared to the Citi e-bikes in NYC (which I have driven extensively), the lighter-weight, more powerful TM-B was a considerably nicer experience than the harsh, suspensionless Citi e-bike. 

The higher battery placement of the Citi e-bike made it less maneuverable and bulky, but it did offer a decent amount of pedal boost compared to the TM-B (full pedal boost on the Citi e-bike felt like a "7" setting on Also's bike).

While a nice product, the TM-B's steep price has skeptics wondering whether the bike would sell in volume. E-bike companies like Van Moof and others had critically acclaimed products, but couldn't make the economics work, and filed for bankruptcy.  

At least for Also, fundraising hasn't been a problem. In March, Also reached a $1 billion valuation in a new funding round that included a partnership with DoorDash to work on autonomous deliveries.

The financing brought in $200 million for Also and was led by existing investor Greenoaks Capital, along with other backers such as Prysm and DoorDash.

A high-profile partnership with DoorDash is a nice shot in the arm for Also, showing interest in the product on the commercial end. 

The company plans to offer other micro-mobility products, like a small delivery van powered by a rider and DreamRide, as well as larger bikes featuring two rear wheels for added stability and cargo volume.  

Pras Subramanian is the lead auto reporter for Yahoo Finance. You can follow him on X and on Instagram.

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