Rivian announced the creation of a brand new micromobility firm referred to as Additionally. The deal consists of $105 million in Collection B funding from enterprise capital agency Eclipse and can deal with the event and manufacturing of light-weight electrical autos like bikes and scooters.
“For the world to completely transition to electrified transportation, a variety of car varieties and type components might be wanted,” mentioned Rivian Founder and CEO RJ Scaringe in an announcement. “I’m extraordinarily excited in regards to the improvements developed by the Additionally group that may underpin a variety of extremely compelling micromobility merchandise that may assist outline new classes.”
Rivian says its began a “stealth program” targeted on micromobility a number of years in the past, recognizing “a large want” for extra smaller, lightweight electrical autos like bikes and scooters. It couldn’t have been that stealth, contemplating Scaringe was on stage at Tech Disrupt in 2023 speaking about his curiosity in “multimodal” transportation, together with e-bikes. The company has also filed a trademark for e-bikes and scooters, signaling its curiosity in increasing its product lineup.
Rivian is thought for its flagship EVs, the R1S SUV and R1T truck, each of that are very large, very heavy, and really costly. The extra reasonably priced R2 and R3 autos are underneath improvement and anticipated to enter manufacturing beginning in 2026. An much more light-weight private mobility system could be a welcome addition for Rivian followers, who love the corporate’s outside, adventure-themed picture.
Rivian says it’s going to retain a “substantial minority possession stake” in Additionally, and expects to characteristic the corporate’s merchandise at its personal retail places sooner or later. Scaringe will function chair of Additionally’s board of administrators.
Regardless of the income alternative offered by the brand new class, automotive makers have but to seek out any notable success with their e-bikes regardless of manufacturers like Porsche, Mercedes, Jeep, GM, Hummer, and others all giving it a go. The e-bike trade goes by means of some rising pains, too, with VanMoof submitting for chapter and Rad Energy Bikes biking by means of a collection of executives.