Workflow
Electric quadricycle
icon
Search documents
Rivian Robotics Spinoff Will 'Reshape How Physical World Businesses Operate'
Yahoo Financeยท 2025-11-07 03:31
Core Insights - Rivian Automotive announced its third-quarter financial results and provided updates on new vehicle developments and the spinoff of a robotics company [1][2] Group 1: Financial Results and Vehicle Updates - Rivian reported its third-quarter financial results alongside an update on upcoming vehicles [1] - The company is recognized as one of the top performers in the market today [1] Group 2: Spinoff of Robotics Unit - Rivian has spun off its micromobility assets into a new company called ALSO and formed Mind Robotics, which targets the industrial segment [2][5] - Mind Robotics was established in November and has secured $110 million in external seed capital [3] - The company aims to leverage synergies between autonomous driving and physical AI to support the industrial sector with AI-enabled robotics [3][4] Group 3: Product Development and Market Strategy - Mind Robotics will focus on advancing industrial AI to transform operations in the physical world, utilizing Rivian's operational data [3][4] - Rivian's CEO RJ Scaringe will serve as Chairman of the Mind Robotics board, emphasizing the potential of AI in reshaping business operations [4] - The micromobility segment, spun off into Also Inc., includes products like e-bikes and electric quadricycles, with the first line launched in October [5][6]