(Bloomberg / Kara Carlson) — Rivian Automotive Inc. is spinning out a business that will develop small electric vehicles designed for short trips.
The new “micromobility” company, known as Also, is launching with $105 million in funding from Rivian and venture capital firm Eclipse. Rivian, which makes consumer EV trucks and SUVs, will have a minority stake in Also.
Chris Yu, a Rivian executive who will lead the new company as president, said in an interview that current options are limited for customers looking for plug-in vehicles smaller than a standard car. “There is a lack of personalized experience you get, like with a Rivian, for small EVs.”
The new business strives to make good on an internal project that Rivian has been pursuing for several years. Bloomberg reported in early 2023 that the automaker was developing an electric bike and had patents for bicycle components and designs. Rivian Chief Executive Officer RJ Scaringe will be on Also’s board.
While Also didn’t specify the exact vehicles it will roll out, Yu said the technology platform will be applicable to e-bikes as well as three- and four-wheel products including neighborhood EVs and micro cars. The company plans to announce a flagship consumer product this fall, before starting deliveries in the US in 2026 and expanding into Europe later that year.
The company aims to later launch products tailored for both consumer and commercial use in Asia and South America.
Also will have about 70 employees to start, primarily working out of a Palo Alto office, and will add to areas including customer support as it gets closer to launch, Yu said.
There are communities across the US that are designed for micromobility options, such as golf carts, Yu said. In order for consumers to choose an EV alternative, there would have to be more “compelling solutions for price” and a better “personalized experience” from the brand.
Yu expects the range of products will hit the right price point for all interested shoppers. The startup’s relationship with Rivian will help streamline the supply chain and could lead to possible parts sharing in the future, he said.
“When you get a small vehicle, one size doesn’t fit all,” Yu said. “We want to give customers confidence and a brand technology platform customers can rely on with the same principles and technology, regardless of what the end solution looks like.”
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