Rivian Announces Micromobility Business Spin-off - Quick Facts

(RTTNews) - Rivian (RIVN) said it has spun out micromobility business into a new company: Also, Inc. Also will focus on small, lightweight vehicles that are designed to meet the global mobility transportation challenges. Rivian retains a substantial minority ownership stake in Also. Also secured a $105 million investment from the venture capital fund, Eclipse Ventures. Rivian CEO RJ Scaringe will serve on Also's Board.

Rivian said it continues to make significant progress toward R2 launch in Normal, Illinois and expects to begin customer deliveries of the all-new midsize SUV in the first half of 2026.