Rivian announced that it has spun out its micro-mobility business into a new company: Also, Inc. Also will focus on small, lightweight vehicles designed to meet the global mobility transportation challenges of today and tomorrow.
Recognizing the massive need for small electric form factors to enable the sustainable transition of our global transportation system, Rivian started a stealth program focused on micro-mobility several years ago.
This initial effort aimed to examine how Rivian’s strength in software, electronics and electric propulsion could be applied to create an advantaged cost structure and greatly enhanced product relative to currently available offerings.
As these efforts advanced, it became clear that Rivian’s approach had the potential to unlock a large opportunity that deserved to be its own company, optimized around different products, brand positioning, and markets.
Rivian retains a substantial minority ownership stake in Also and expects opportunities for future collaboration, which may include selectively using some of Rivian’s retail footprint. In connection with the spin-off, Also secured a $105 million investment from the venture capital fund, Eclipse Ventures, which will support Also’s next phase of growth. Rivian Founder and CEO RJ Scaringe will serve on Also’s Board of Directors as its Chairman.
As part of its intense focus on sustainably growing its core business, Rivian continues to make significant progress toward its R2 launch in Normal, Illinois and expects to begin customer deliveries of the all-new midsize SUV in the first half of 2026.
Also will have more to share on its activities and products soon.
Filed Under: Technology News