Rivian Launches New Micromobility Venture ‘Also’ with $105 Million Funding
Electric vehicle manufacturer Rivian has announced the creation of a new micromobility company named Also, backed by $105 million in Series B funding from venture capital firm Eclipse. The initiative aims to develop and produce lightweight electric vehicles, including bikes and scooters, expanding Rivian’s footprint in the sustainable transportation sector.
Rivian Founder and CEO RJ Scaringe emphasized the importance of diverse vehicle types in achieving a full transition to electrified transportation. “To truly shift to electrified transportation, we need a spectrum of vehicle types,” Scaringe stated.
The announcement follows years of stealth development by Rivian in the micromobility space. Scaringe had previously hinted at the company’s interest in “multimodal” transportation during a Tech Disrupt event in 2023. Rivian has also filed trademarks for e-bikes and scooters, signaling its expansion plans beyond its current lineup of large, premium electric vehicles.
While Rivian is best known for its flagship R1S SUV and R1T truck, the company is already working on more affordable R2 and R3 models, slated for production in 2026. The introduction of lightweight personal mobility devices aligns with Rivian’s adventure-themed brand image.
Under the new arrangement, Rivian will retain a “substantial minority ownership stake” in Also. The company plans to showcase Also’s products at Rivian retail locations, with Scaringe serving as chair of Also’s board of directors.
However, the e-bike industry presents its own set of challenges. Despite potential revenue opportunities, car manufacturers have historically struggled to achieve success in this market. Brands such as Porsche, Mercedes, Jeep, GM, and Hummer have all explored e-bike ventures with varying degrees of success.
The broader e-bike industry has faced recent setbacks, with companies like VanMoof filing for bankruptcy and Rad Power Bikes experiencing executive turnover. As Rivian ventures into this competitive space, it will need to navigate these challenges while leveraging its existing brand strength and technological expertise.
