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Rivian Initiates Undisclosed Micromobility Enterprise, Divests It
Disseminated: March 26, 2025, 10:45 AM Eastern Time
Salient Aspects:
* Rivian Automotive is commencing a micromobility firm, discreetly cultivated over several years.
* The nascent entity, Also Inc., will center on diminutive, featherweight electric conveyances.
* Rivian maintains a subordinate equity in Also, which has additionally procured capital from Eclipse Ventures.
Electric conveyance manufacturer Rivian Automotive (RIVN) observed a marginal stock augmentation Wednesday subsequent to publicizing its clandestine micromobility undertaking, years in gestation, is presently an autonomous entity. TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America
Also Inc. aspires to confront universal transportation predicaments with diminutive, featherweight vehicles.
Rivian will sustain a subordinate equity in Also, foreseeing prospective collaborations, conceivably capitalizing on Rivian’s retail functionalities. Founder and Chief Executive Officer RJ Scaringe will preside over Also, underscoring the exigency for assorted vehicle classifications for comprehensive electric transportation.
Also has garnered $105 million in investment from Eclipse Ventures.
Rivian Acknowledges Advancement on R2 Mid-Size Sport Utility Vehicle Inauguration
Concurrently with the Also revelation, Rivian is achieving “substantial advancement” on inaugurating its R2 mid-size sport utility vehicle in the initial semester of the ensuing annum.
Rivian Automotive’s stock has appreciated by approximately 17% over the antecedent annum.
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