Rivian says it will retain a “substantial minority ownership stake” in Also, and expects to feature the company’s products at its own retail locations in the future. Scaring

While Rivian might be known for electric pickup trucks and SUVs, the manufacturer has been quietly developing e-bikes for years. Rivian announced on Wednesday that the secret venture was spun off into a new micromobility company called Also.

In saying the quiet part out loud, Rivian recently announced as well that they’re spinning off a micromobility company called Also, and with no small amount of seed capital, $105 million. That’s too little dough to start a car division,

Rivian is best known for its rugged electric trucks and SUVs, but now it’s setting its sights on something smaller. The EV maker has officially spun off its micromobility division into a new company called Also,

After starting a “stealth program” years ago, Rivian’s (RIVN) new spin off will take on the micromobility space. Rivian