Rivian Automotive has launched a new start-up called Also, spinning out its electric micromobility business into an independent entity. Also aims to develop small, lightweight electric vehicles (EVs) to address transportation challenges around the world.
In support of this initiative, Also has secured a $105 million investment from Eclipse Ventures to fund its next phase of growth. Initially developed as a stealth project within Rivian, Also now operates as a standalone company focusing on a broad range of electrified micromobility solutions.
The company plans to debut its flagship product in 2026, targeting the U.S. and European markets, with plans to expand into Asia and South America with vehicles designed for both consumers and commercial use.
Rivian’s founder and CEO RJ Scaringe will serve as chairman of Also’s board of directors. “We believe in a future where there are a broad range of transportation vehicle types available to customers,” Scaringe said. “Small electric vehicles will play a key role in efficient, clean and convenient mobility, opening new opportunities for people to get around quickly and with minimal impact.”
While Rivian retains a minority stake in Also, the companies anticipate potential collaborations, including shared use of Rivian’s retail network. Rivian will continue to concentrate on its core vehicle business, including the launch of its R2 midsize SUV at its Normal, Illinois plant, with deliveries expected in the first half of 2026.
Rivian recently reported a Q4 2024 gross profit of $170 million, a substantial turnaround from the $606 million loss in the same quarter of 2023. The company also reduced its net loss to $743 million, down from $1.52 billion the previous year.