Also Launches From Stealth to Unveil Global Electric Micromobility Platform with $105 Million in Outside Funding

Whats Happening:

Also, a new electric micromobility company spun out from Rivian, has emerged from stealth with $105 million in funding from Eclipse. The company is developing a range of small electric vehicles for both consumer and commercial markets globally, with its flagship product set to launch in 2026 in the U.S. and Europe.

Key Moves:

• Also launches with $105 million in funding from Eclipse

• Company plans to develop a portfolio of small electric vehicles

• Flagship product expected to launch in 2026 for U.S. and European consumers

By The Numbers:

• Urban populations projected to reach 7 billion by 2050

• In the U.S., majority of vehicle trips are under 6 miles

• Only 6.9% of U.S. vehicle trips are longer than 30 miles

Key Quotes:

• "We believe in a future where there are a broad range of transportation vehicle types available to customers," said Rivian Founder and CEO RJ Scaringe.

• "Small electric vehicles will play a key role in efficient, clean and convenient mobility, opening new opportunities for people to get around quickly and with minimal impact."

Bottom Line:

Also's launch represents a significant development in the electric micromobility sector, addressing the growing need for sustainable urban transportation solutions. With substantial funding and a focus on both consumer and commercial markets, the company is poised to make a notable impact on the future of small electric vehicles globally.

Read Full Article