by Rivian Launches Also Inc to Develop Compact Electric Vehicles
Rivian, known for its electric trucks and SUVs, has created a new subsidiary, Also Inc. Its goal is the development of compact electric vehicles and micromobility solutions for cities. The project has already received $200 million in investments from Greenoaks Capital, which valued Also Inc at $1 billion.
Also Inc will work on creating electric bicycles, small three-wheeled and four-wheeled vehicles. The company plans to enter the markets of North America, Asia, and South America, where similar solutions are already popular. Although Also Inc is a separate entity, it may use Rivian’s technologies and logistics networks.
“When it comes to compact transport, one universal solution is not enough. We want to offer customers reliability and a technological platform, regardless of the final product’s appearance,” stated Also Inc President Chris Yu.
The business separation will allow Rivian to focus on core models, such as the R2 and R3, without being distracted by new directions. At the same time, Also Inc gains freedom to experiment in the field of urban mobility. Although the company has not yet revealed specific models, investors are already demonstrating a high level of confidence in its potential.
The micromobility market is growing rapidly, especially in urban environments where traditional cars are becoming less practical. Also Inc could fill the niche between bicycles and full-fledged electric cars, offering solutions for short trips or cargo transportation. The success of this initiative could influence Rivian’s strategy in the long term, even if the companies operate independently.
