News Summary

Rivian, an electric vehicle manufacturer, has announced the spinout of a new startup named Also, which focuses on electric micromobility. The startup has secured $105 million in funding from Eclipse Ventures, with Rivian retaining a minority stake. RJ Scaringe, Rivian’s founder and CEO, will serve on Also’s board, while Chris Yu, Rivian’s VP of future programs, will take on the role of president. This move follows years of a skunkworks program within Rivian dedicated to developing electric micromobility solutions.