Rivian to Spin Out Micromobility Business

Dow Jones03-26

By Katherine Hamilton

Rivian Automotive is spinning out its micromobility business into a new startup called Also Inc.

The Irvine, Calif., electric-vehicle maker said Wednesday it plans to have a substantial minority shareholder in Also. The new company will focus on small, lightweight vehicles, as well as micromobility, which includes electric scooters and bicycles.

In connection with the spinoff, Also secured a $105 million investment from the venture capital fund Eclipse Ventures, which plans to support the company's next stage of growth, Rivian said.

Rivian started a stealth program focused on micromobility several years ago, it said, with the aim of addressing the transition to more sustainable forms of transportation. The goal of the effort was to see whether Rivian's software, electronics and electric propulsion capabilities could create something that could compete with currently available offerings.

Rivian's founder and chief executive, RJ Scaringe, plans to serve as chairman of Also's board of directors. Also could use some of Rivian's retail footprint in the future, the company said.

Rivian said it is continuing to focus on its core business and has made progress toward launching R2, a mid-size electric SUV. It expects to begin customer deliveries of the product in the first half of 2026, it said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

March 26, 2025 09:57 ET (13:57 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2522029378?lang=en_US&edition=full_marsco","thumbnail":"","is_english":true,"pubTime":"2025-03-26 21:57","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2522029378","market":"fut","top_or_hot":-1,"title":"Rivian to Spin Out Micromobility Business","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Katherine Hamilton \n</p>\n<p>\n  Rivian Automotive is spinning out its micromobility business into a new startup called Also Inc. \n</p>\n<p>\n  The Irvine, Calif., electric-vehicle maker said Wednesday it plans to have a substantial minority shareholder in Also. The new company will focus on small, lightweight vehicles, as well as micromobility, which includes electric scooters and bicycles. \n</p>\n<p>\n  In connection with the spinoff, Also secured a $105 million investment from the venture capital fund Eclipse Ventures, which plans to support the company's next stage of growth, Rivian said. \n</p>\n<p>\n  Rivian started a stealth program focused on micromobility several years ago, it said, with the aim of addressing the transition to more sustainable forms of transportation. The goal of the effort was to see whether Rivian's software, electronics and electric propulsion capabilities could create something that could compete with currently available offerings. \n</p>\n<p>\n  Rivian's founder and chief executive, RJ Scaringe, plans to serve as chairman of Also's board of directors. Also could use some of Rivian's retail footprint in the future, the company said. \n</p>\n<p>\n  Rivian said it is continuing to focus on its core business and has made progress toward launching R2, a mid-size electric SUV. It expects to begin customer deliveries of the product in the first half of 2026, it said. \n</p>\n<p>\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 26, 2025 09:57 ET (13:57 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rivian to Spin Out Micromobility Business</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRivian to Spin Out Micromobility Business\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-03-26 21:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Katherine Hamilton \n</p>\n<p>\n  Rivian Automotive is spinning out its micromobility business into a new startup called Also Inc. \n</p>\n<p>\n  The Irvine, Calif., electric-vehicle maker said Wednesday it plans to have a substantial minority shareholder in Also. The new company will focus on small, lightweight vehicles, as well as micromobility, which includes electric scooters and bicycles. \n</p>\n<p>\n  In connection with the spinoff, Also secured a $105 million investment from the venture capital fund Eclipse Ventures, which plans to support the company's next stage of growth, Rivian said. \n</p>\n<p>\n  Rivian started a stealth program focused on micromobility several years ago, it said, with the aim of addressing the transition to more sustainable forms of transportation. The goal of the effort was to see whether Rivian's software, electronics and electric propulsion capabilities could create something that could compete with currently available offerings. \n</p>\n<p>\n  Rivian's founder and chief executive, RJ Scaringe, plans to serve as chairman of Also's board of directors. Also could use some of Rivian's retail footprint in the future, the company said. \n</p>\n<p>\n  Rivian said it is continuing to focus on its core business and has made progress toward launching R2, a mid-size electric SUV. It expects to begin customer deliveries of the product in the first half of 2026, it said. \n</p>\n<p>\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 26, 2025 09:57 ET (13:57 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4099","symbol_name":"汽车制造商","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2522029378","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2522029378","pubTimestamp":1742997420,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Rivian Automotive is spinning out its micromobility business into a new startup called Also Inc.The Irvine, Calif., electric-vehicle maker said Wednesday it plans to have a substantial minority shareholder in Also. The new company will focus on small, lightweight vehicles, as well as micromobility, which includes electric scooters and bicycles.In connection with the spinoff, Also secured a $105 million investment from the venture capital fund Eclipse Ventures, which plans to support the company's next stage of growth, Rivian said.Rivian started a stealth program focused on micromobility several years ago, it said, with the aim of addressing the transition to more sustainable forms of transportation. The goal of the effort was to see whether Rivian's software, electronics and electric propulsion capabilities could create something that could compete with currently available offerings.Rivian's founder and chief executive, RJ Scaringe, plans to serve as chairman of Also's board of directo","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4099":"汽车制造商","RIVN":"Rivian Automotive, Inc.","BK4547":"WSB热门概念","BK4585":"ETF&股票定投概念","BK4588":"碎股","BK4555":"新能源车","BK4596":"哈里斯概念"},"translate_title":"Rivian将分拆微型移动业务","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RIVN":1},"content_text":"By Katherine Hamilton \n\n\n  Rivian Automotive is spinning out its micromobility business into a new startup called Also Inc. \n\n\n  The Irvine, Calif., electric-vehicle maker said Wednesday it plans to have a substantial minority shareholder in Also. The new company will focus on small, lightweight vehicles, as well as micromobility, which includes electric scooters and bicycles. \n\n\n  In connection with the spinoff, Also secured a $105 million investment from the venture capital fund Eclipse Ventures, which plans to support the company's next stage of growth, Rivian said. \n\n\n  Rivian started a stealth program focused on micromobility several years ago, it said, with the aim of addressing the transition to more sustainable forms of transportation. The goal of the effort was to see whether Rivian's software, electronics and electric propulsion capabilities could create something that could compete with currently available offerings. \n\n\n  Rivian's founder and chief executive, RJ Scaringe, plans to serve as chairman of Also's board of directors. Also could use some of Rivian's retail footprint in the future, the company said. \n\n\n  Rivian said it is continuing to focus on its core business and has made progress toward launching R2, a mid-size electric SUV. It expects to begin customer deliveries of the product in the first half of 2026, it said. \n\n\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 26, 2025 09:57 ET (13:57 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.33.1","shortVersion":"4.33.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2522029378"}