Rivian spins out micromobility startup
That is already apparent when looking at Also’s management. Rivian founder and CEO RJ Scaringe will serve on the startup’s of Directors as its Chairman, while Chris Yu, Rivian’s VP of future programs, has been named president. Moreover, the US carmaker holds a minority stake in Also.
But what does Also plan to do? According to Rivian’s press release, it will focus on “small, lightweight vehicles that are designed to meet the global mobility transportation challenges of today and tomorrow.” That is not much to go on. However, reports from other media outlets might shed some light.
According to TechCrunch, for example, Also will present its first vehicle later this, which will then go into production in 2026. The (presumably electric) vehicle is aimed at consumers in the US and Europe, and the startup will “eventually launch vehicles tailored for consumer and commercial use in Asia and South America,” TechCrunch writes.
What the vehicle will look like remains under wraps. But it could go in the direction of an e-bike. In fact, Rivian filed for a new trademark for electric bikes in 2022, which at the time sparked rumours that the automaker could add a two-wheeler to its portfolio.
Rivian writes in its current statement that it “started a stealth program focused on micromobility several years ago,” as it realised the “massive need for small electric form factors in enabling the sustainable transition of our global transportation system.” That programme now includes 70 people, who, according to TechCrunch, come from “Apple, Google, Specialized, Tesla, REI Co-Op, and Uber.” Funding for the new startup came from the venture capital fund Eclipse Ventures, which injected 105 million dollars in Also.
Its initial goal was to look at how Rivian’s software, electronics and electric propulsion could help lower to cost of micromobility offering. “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,” the company states.
“For the world to fully transition to electrified transportation, a range of vehicle types and form factors will be needed,” said Scaringe. “I am extremely excited about the innovations developed by the Also team that will underpin a range of highly compelling micromobility products that will help define new categories.”
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