In a strategic move to diversify its electric vehicle offerings, Rivian Automotive has announced the creation of ‘Also,’ a new company dedicated to developing lightweight electric vehicles such as bikes and scooters. This initiative is bolstered by a $105 million Series B funding round from venture capital firm Eclipse.
Rivian’s Founder and CEO, RJ Scaringe, emphasized the importance of varied vehicle types in achieving a comprehensive transition to electrified transportation. He expressed enthusiasm for the innovations emerging from the Also team, highlighting their potential to introduce compelling micromobility products that could redefine existing categories.
The inception of Also stems from a “stealth program” initiated by Rivian several years ago, aimed at addressing the growing demand for smaller, lightweight electric vehicles. This endeavor aligns with Rivian’s broader strategy to expand its product lineup beyond its flagship heavy-duty electric vehicles, the R1S SUV and R1T truck. The company is also developing more affordable models, such as the R2 and R3, expected to enter production starting in 2026.
Rivian will maintain a significant minority stake in Also and plans to feature its products in Rivian’s retail locations. RJ Scaringe will serve as the chair of Also’s board of directors, ensuring continued collaboration between the two entities.
The micromobility market has attracted interest from various automotive manufacturers, with brands like Porsche, Mercedes, and Jeep exploring electric bikes and scooters. However, achieving notable success in this sector remains challenging. Rivian aims to leverage its adventure-oriented brand image to appeal to consumers seeking versatile and sustainable transportation options.
As Also embarks on its mission to innovate within the micromobility space, industry observers will be keen to see how this spin-off contributes to the evolving landscape of electric transportation.
