Rivian, an American electric vehicle manufacturer, has announced the spin-off of its micromobility business, focused on small, lightweight vehicles like electric scooters and bikes, into a new independent company named Also, Inc. This strategic move allows Also to concentrate on developing innovative solutions for global mobility transportation challenges. Rivian, while focusing on its core business and the upcoming launch of its R2 vehicle, will maintain a significant minority stake in Also and explore future collaboration opportunities.
Key Highlights:
- Rivian has spun off its micromobility business into Also, Inc., a new independent company.
- Also, Inc. will develop small, lightweight electric vehicles for global mobility solutions.
- Rivian maintains a minority ownership stake in Also and may collaborate in the future.
- Eclipse Ventures has invested $105 million in Also to fuel its growth.
- RJ Scaringe, Rivian’s CEO, will serve as chairman of Also’s board.
- Rivian remains focused on launching its R2 SUV in the first half of 2026.
Several years ago, Rivian began exploring micromobility to leverage its expertise in software, electronics, and electric propulsion. The aim was to create superior products with better cost efficiency compared to existing options. As the initiative grew, Rivian recognized its potential as a standalone business, leading to the creation of Also, Inc. This separation allows Also to focus on small electric vehicles while Rivian prioritizes its primary operations, including the production of its R2 and R3 vehicles.
The spin-off has also enabled Also to secure a $105 million investment from Eclipse Ventures, which will support its research, development, and market entry. With RJ Scaringe as chairman, Also benefits from Rivian’s leadership and may tap into Rivian’s retail network in the future. Rivian’s CEO emphasized that diverse vehicle types are essential for a fully electrified transportation system, highlighting the strategic importance of this move.
Meanwhile, Rivian continues to advance its core business, preparing for the R2 midsize SUV launch in 2026. Also, Inc. plans to reveal more about its products soon, promising further innovation in the micromobility sector. This spin-off positions both companies to thrive in their respective markets, contributing to sustainable transportation solutions.
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