Rivian has announced the creation of a new micromobility company called Also. The deal includes $105 million in Series B funding from venture capital firm Eclipse and will focus on developing and manufacturing lightweight electric vehicles such as bicycles and scooters.
“For the world to fully transition to electrified transportation, a range of vehicle types and form factors will be required,” Rivian founder and CEO RJ Scaringe said in a statement. “I am extremely excited about the innovations developed by the Also team, which will form the basis of a number of highly attractive micromobility products that will help define new categories.”
Rivian says it began a “stealth program” focused on micromobility several years ago, recognizing a “huge need” for more small, lightweight electric vehicles such as bicycles and scooters. It couldn’t have been that inconspicuous, given that Skaring spoke on stage at Tech Disrupt in 2023, talking about his interest in “multimodal” transportation, including electric bicycles. The company has also registered a trademark for electric bicycles and scooters, which indicates its interest in expanding its product range.
Rivian is known for its flagship electric vehicles, the R1S SUV and the R1T truck, which are very large, very heavy, and very expensive. The more affordable R2 and R3 vehicles are under development and are expected to go into production from 2026. An even lighter personal mobile device would be a welcome addition for Rivian fans who love the company’s outdoorsy, adventurous image.
Rivian says it will retain a “significant minority stake” in Also, and expects to carry the company’s products in its own retail stores in the future. Skaring will serve as chairman of the board of directors of Also.
Despite the opportunity to profit from the new category, automakers have not yet achieved significant success with electric bicycles, despite the fact that brands such as Porsche, Mercedes, Jeep, GM, Hummer and others have tried their hand at it. The electric bike industry is also experiencing some difficulties, with VanMoof filing for bankruptcy and Rad Power Bikes changing a number of executives.
