Rivian spins out secret e-bike lab into a new company called Also
Rivian 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 the development and production of lightweight electric vehicles like bikes and scooters.
“For the world to fully transition to electrified transportation, a range of vehicle types and form factors will be needed,” said Rivian Founder and CEO RJ Scaringe in a statement. “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.”
Rivian says its started a “stealth program” focused on micromobility several years ago, recognizing “a massive need” for more smaller, light-weight electric vehicles like bikes and scooters. It couldn’t have been that stealth, considering Scaringe was on stage at Tech Disrupt in 2023 talking about his interest in “multimodal” transportation, including e-bikes. The company has also filed a trademark for e-bikes and scooters, signaling its interest in expanding its product lineup.
Rivian is known for its flagship EVs, the R1S SUV and R1T truck, both of which are very big, very heavy, and very expensive. The more affordable R2 and R3 vehicles are under development and expected to enter production starting in 2026. An even more lightweight personal mobility device would be a welcome addition for Rivian fans, who love the company’s outdoor, adventure-themed image.
Rivian says it will retain a “substantial minority ownership stake” in Also, and expects to feature the company’s products at its own retail locations in the future. Scaringe will serve as chair of Also’s board of directors.
Despite the revenue opportunity presented by the new category, car makers have yet to find any notable success with their e-bikes despite brands like Porsche, Mercedes, Jeep, GM, Hummer, and others all giving it a go. The e-bike industry is going through some growing pains, too, with VanMoof filing for bankruptcy and Rad Power Bikes cycling through a series of executives.
To read more about Rivian’s e-bike plans, check out this thorough rundown in TechCrunch.