- Spinoff begins with $105 million VC funding, Rivian maintains “substantial minority stake”
- Merchandise to be inexpensive, vastly extra environment friendly than right this moment’s automobiles or SUVs
- In-house-built for core elements, might share gross sales area with Rivian
- Flagship product coming in early 2026
Do we actually want a brand new era of EVs which can be greater and heavier than equal gasoline vans and SUVs, and the so-called section creep that continues to make every successive U.S.-market car bigger than predecessors?
These are robust, societal questions with out straightforward solutions, and it includes a tangle of laws, shopper habits, and the bounds of inexpensive expertise. However a Palo Alto, California–based mostly micromobility startup being spun off by Rivian, referred to as Additionally, appears to be like prefer it goals to deal with them—and, from the sound of it, give American shoppers a strategy to simply say no to these super-size merchandise.
In a press launch saying the enterprise, which Rivian had beforehand saved underneath wraps, Rivian clarified that it maintains a “substantial minority stake” in Additionally and “expects alternatives for future collaboration, which can embody selectively utilizing a few of Rivian’s retail footprint.”
With the spinoff of the corporate Additionally secures a $105 million funding from the VC fund Eclipse Ventures, and Rivian CEO RJ Scaringe will function its chairman and on its board of administrators.
Additionally, in a web page concerning the firm, says that it’s going to launch its flagship product in early 2026 and can initially deal with the U.S. and Europe previous to world growth.
Rivian R3
That product will likely be a part of a complete vary of “thrilling, small EVs,” in accordance with Additionally, that will likely be constructed on a vertically built-in expertise platform. With every little thing constructed for the platform in-house, together with motors, batteries, electronics, and software program, Additionally claims “a person expertise that’s not like something seen in these segments earlier than.”
“Is also constructing an thrilling vary of electrical autos which can be environment friendly, sustainable, and pleasant to make use of,” the corporate sums.
In job postings, Additionally quantifies its product targets a bit bit. “Our mission is to encourage everybody to experience additionally—changing many native automotive, truck and SUV miles with ones on autos which can be extra inexpensive, extra pleasant and 10-50x extra environment friendly.”
Street transportation is the main contributor to world CO2 emissions, Additionally says, whereas 80% of automotive journeys are 15 miles or much less and half are underneath 6 miles.
Rivian continues to additionally set its sights towards considerably smaller autos than its personal flagship R1T electrical pickup and R1S electrical SUV. Its upcoming $45,000 R2 electrical SUV is on the best way in 2026, whereas it’s additionally engaged on smaller Rivian R3 and R3X rugged hatchbacks which can be set to comply with. All of this comes along with the $5.8 billion VW-Rivian three way partnership that may end in a brand new Rivian-based zonal structure for future VW Group EVs.
