Rivian spins out secret e-bike lab into a new company called Also

Rivian announced the creation of a new micromobility company called Also. The deal includes $105 million in Series B funding from venture capital firm Eclipse and will focus on the development and production of lightweight electric vehicles like bikes and scooters.

“For the world to fully transition to electrified transportation, a range of vehicle types and form factors will be needed,” said Rivian Founder and CEO RJ Scaringe in a statement. “I am extremely excited about the innovations...