Rivian Launches New Micromobility Venture ‘Also’ with $105M Funding from Eclipse
In the evolving world of micromobility, RJ Scaringe, the founder of Rivian, is making waves with a new startup called Also. Established in 2009, Rivian has primarily focused on electric vans, trucks, and SUVs, but Scaringe’s vision for compact, affordable electric vehicles has now come to fruition with this innovative venture.
The Birth of Also: A New Era in Micromobility
After a decade of contemplation, Rivian’s skunkworks program has birthed a standalone company named Also. This initiative grew from a smaller team within Rivian, which included talents from tech giants like Apple, Google, and Tesla. With a recent funding boost of $105 million from Eclipse Ventures, Also is poised to revolutionize the micromobility landscape.
Strategic Relationship with Rivian
While Also operates independently, it maintains a strong connection with Rivian. The latter holds a minority stake in the startup, and Scaringe will sit on Also’s board. This strategic partnership allows Also to utilize Rivian’s advanced technology, retail distribution channels, and economies of scale.
Upcoming Products and Market Expansion
Also is set to launch its flagship product in the United States and Europe next year. The startup aims to cater to both consumer and commercial needs in Asia and South America in the future. Scaringe hinted that the first vehicle design will resemble a bike, featuring:
- A seat
- Two wheels
- A screen
- Computers and a battery
Scaringe emphasized that Also aims to deliver Rivian-quality micromobility solutions at more accessible prices, addressing the current high costs of electric bikes which can range from $6,000 to over $10,000.
Identifying the Gap in the Market
Reflecting on the need for smaller, more flexible transportation options, former Rivian chief growth officer Jiten Behl played a crucial role in initiating discussions about this venture. He noted the challenges cities face with large vehicles and the pressing need for alternative mobility solutions.
Leveraging Rivian’s Technological Edge
Rivian’s extensive expertise in electric vehicle technology uniquely positions Also to tackle the micromobility market. Scaringe highlighted that most competitors lack integrated power electronics and software development capabilities, which are critical for reducing costs and enhancing performance.
Commercial Opportunities and Future Potential
Also is not just focused on consumer products but sees significant potential in the commercial sector. According to Chris Yu, Also’s president, the demand for small electric vehicles (EVs) is particularly acute in urban areas of Europe, where traditional vehicles face restrictions.
As the team at Also forges ahead with their plans, they are exploring various vehicle formats to meet diverse market needs. When asked about the possibility of creating unconventional models like rickshaws or skateboards, Scaringe responded with optimism, stating, “never say never on anything” in the micromobility space.
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