Also will offer small, lightweight EVs to serve customers at various price points and across geographies, the company said.

Next, it secured a new $5 billion joint venture deal with Volkswagen to develop next-gen EV platforms and technology to power them, inside and out. Now, Rivian has announced a new company called Also,

Rivian Automotive Inc. is spinning out a business that will develop small electric vehicles designed for short trips. The new “micromobility” company, known as Also, is launching with $105 million in funding from Rivian and venture capital firm Eclipse. Rivian, which makes consumer EV trucks and SUVs, will have a minority stake in Also.