Rivian has launched a new micromobility-focused startup called Also, which has raised US$105 million in funding from Eclipse Ventures.

The company aims to produce smaller and more affordable EVs, using Rivian’s technology and resources.

Rivian retains a minority stake in Also, with CEO RJ Scaringe serving on its board. Chris Yu, former VP of future programs at Rivian, will serve as president of the new venture.

Also plans to introduce its first product, which is expected to resemble a bike, by next year in the US and Europe. There are also plans for future expansion into Asia and South America. The concept for Also originated from a skunkworks project at Rivian in 2019.