Written by Cláudio Afonso | LinkedIn | X
Rivian on Wednesday unveiled Also, Inc., a new standalone company focused on micromobility. The Irvine, California-based EV maker said it hold a minority stake in the business, which has operated in stealth mode for the past three years.
The first product, expected to be revealed this fall and launched in early 2026, will be a compact electric vehicle with one seat, two wheels, a screen, computers, and a battery, Rivian CEO RJ Scaringe told the media outlet TechCrunch.
The new company is led by Chris Yu, a former Chief Product and Technology Officer at Specialized Bicycle Components and Rivian’s VP of Future Programs. Yu joined the carmaker in January 2022 has overseen the project since its inception.
“Just over 3 years ago, I joined Rivian to help start a new skunkworks program. The idea was simple—develop exciting and inviting smaller-than-car EVs through the same ground-up, vertically integrated approach as with our larger EV siblings,” Yu wrote on LinkedIn.
Along the way, we realized that the scale of this opportunity deserved the dedication and speed of a well-backed standalone company. So today, we’re excited to introduce Also to the world. We have tremendous support from Rivian and Eclipse and we cannot wait to share more about our first products later this year!” he added.
Also launches with $105 million in funding from Rivian and venture capital firm Eclipse. The team includes about 70 employees with backgrounds at Apple, Google, Tesla, and Uber, according to Scaringe.
“We’ve been taking the Rivian technology stack and adapting it to much smaller form factors and then coming up with some incredibly exciting embodiments of that technology,” Scaringe told Reuters.
“Small, lightweight vehicles that are designed to meet the global mobility transportation challenges of today and tomorrow,” is how Rivian described Also’s mission in an official statement.
Also will begin operations in the U.S. and Europe, with plans to expand globally across both consumer and commercial segments.
Truist Securities analyst Jordan Levy reacted in a new research note saying that, while Rivian didn’t specify which vehicle categories are in development, the micromobility segment could include e-bikes, neighborhood EVs, and microcars.
“With Also planning to launch its flagship consumer product this fall, in our view it’s too early to gauge what this could mean long-term for RIVN,” Levy wrote in a note. He called Rivian’s minority stake “long-term option value on the micro mobility market at this stage.”
Truist reaffirmed a Hold rating on Rivian shares and maintained its $14.00 price target, implying a 13% upside from Tuesday’s close.
Also is currently hiring for roles including a software product manager tasked with developing connected experiences for “riders, fleet operators, and service teams.”
As of the time of writing, Rivian shares are trading 0.3% lower at $12.33.