Rivian, known for its electric trucks and SUVs, is venturing into the micromobility space with the launch of a new startup called Also. This move represents a significant diversification for Rivian, extending its reach beyond traditional electric vehicles. The initiative, backed by a substantial $105 million investment from Eclipse, aims to address the growing demand for smaller, more affordable, and sustainable transportation options. The origins of Also can be traced back to a skunkworks project within Rivian, where engineers explored the possibility of adapting the company's technology for smaller vehicles. This internal exploration eventually led to the creation of a separate entity focused specifically on micromobility solutions. The decision to spin out Also suggests a strategic move by Rivian to capitalize on the burgeoning market for electric scooters, bikes, and other compact vehicles without diluting its core focus on larger electric vehicles. The investment from Eclipse provides Also with the necessary capital to develop and launch its micromobility products. While specific details about Also's product roadmap remain under wraps, the company is expected to leverage Rivian's expertise in electric vehicle technology and manufacturing. This could potentially lead to innovative and high-performance micromobility solutions that differentiate Also from existing players in the market. The micromobility market has seen substantial growth in recent years, driven by increasing urbanization, environmental concerns, and the desire for convenient and affordable transportation options. The move into micromobility aligns with broader trends in the transportation industry, where companies are exploring a range of solutions to address evolving consumer needs and environmental challenges. By spinning out Also, Rivian is positioning itself to capture a share of this growing market while maintaining its focus on its core business. The success of Also will depend on its ability to develop compelling products, establish a strong brand, and navigate the competitive landscape of the micromobility industry. The future looks promising for this new venture, given Rivian's technological prowess and the increasing demand for sustainable transportation alternatives.
