Rivian spins out e-bike venture with $105m backing

Electric truck manufacturer Rivian has recently unveiled a new venture named Also, dedicated to developing innovative micromobility systems such as e-bikes. This spin-off project has been supported with a substantial $105 million investment from Eclipse Ventures, a firm known for backing cutting-edge technologies in various sectors.

Also has created a comprehensive technology stack to serve as the foundation for a diverse range of small electric vehicle platforms tailored for both individual consumers and businesses on a global scale. This initiative marks a strategic move by Rivian to expand its portfolio of electrified products within the micromobility space, aiming to make eco-friendly transportation more accessible and cost-effective.

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The core components of the e-bikes, including the battery, motor, and computing technology, were developed by a specialized team within Rivian. The ultimate goal is to drive down production costs and enhance the overall efficiency of electrified products, with the first e-bike model slated for release in 2026 across the United States and Europe.

Notably, Rivian has already made significant strides in the automotive industry by licensing its advanced vehicle technology to major players like Volkswagen, resulting in a lucrative $5.8 billion joint venture. Furthermore, the company has secured substantial funding exceeding $5.6 billion for its electric pickup trucks, the R1T and R1S, and has forged a strategic partnership with tech giant Amazon to develop electric delivery vans.

RJ Scaringe, the visionary CEO and founder of Rivian, expressed his enthusiasm for the future prospects of micromobility, stating, "We envision a future where customers have access to a wide array of transportation options. With the launch of Also, we are thrilled to introduce a new category of all-electric vehicles that are not only efficient and environmentally friendly but also offer enhanced convenience for urban mobility."