Rivian, known for its large electric trucks, throws its goal on small and light vehicles.
The automaker based in Irvine said on Wednesday that it transformed its micromobility activity into a new startup also called Inc.
Micromobility encompasses a variety of vehicles, including electric bikes, scooters and roller boards.
Rivian said in a press release that he started working on micromobility several years ago and concluded that the company should be his own business. Rivian did not specify the type of product that the startup plans to publish and when.
“For the world to go fully to electrified transport, a range of types of vehicle and form factors will be necessary,” said RJ Scargen, founder of Rivian and chief executive in a press release.
This decision comes as Rivian aims to develop his activities while facing challenges such as the misfortunes of the supply chain, regulations and consumers being suspicious of spending money in an economic uncertainty.
Scarenge had previously suggested that Rivian was working on micromobility. He said at Techcrunch Disrupt the conference In 2022, the company planned to move to even smaller vehicles. In 2023, he told staff that Rivian developed an electric bike, Bloomberg reported.
Rivian said he also has a “substantial minority participation”, which will be based in Palo Alto.
SCARINGE will serve as chairman of the startup board of directors. The Eclipse Ventures venture capital fund also invests $ 105 million.
The company refused to provide more details on the company.
Rivian also worked on a medium -sized SUV with five seats that starts at $ 45,000, a lower price compared to its larger vehicles. Known as R2, the SUV should be delivered to customers in the first half of 2026.
In 2024, Rivian declared an annual turnover of almost $ 5 billion and a net loss of $ 1.2 billion, according to his quarter financial results.
The finance of the company has improved as the losses have narrowed.
The company declared a gross profit of $ 170 million in the fourth quarter of 2024, against $ 606 million in the same period in 2023.
Rivian plans to deliver 46,000 to 51,000 vehicles in 2025.
