There's a new "exciting, small EV" on the way, to be launched early next year by Also, a spinoff of the electric vehicle maker Rivian. Details are light on exactly what that product will be, but don't go expecting a $20,000 electric hatchback or the like—think more like an e-bike. Also will be into micromobility, not competing with Mini or Smart.

Also will offer small, lightweight EVs to serve customers at various price points and across geographies, the company said.