Rivian launches lease program for its all-electric R1T pickup in 14 states

Rivian on Monday began a limited program that will give customers in select US states the option to lease its all-electric R1T pickup truck.

Currently, customers living in 14 US states can access to the rental program. The states, which include Arizona, California, Colorado, Florida and Texas, were chosen based on factors such as where Rivian’s customers are located and where leasing is most popular, according to the company. Other eligible states include Georgia, Massachusetts, Michigan, Missouri, New Jersey, New York, Nevada, Pennsylvania, and Washington.

Rivian spokeswoman Rachel Maniago said the company plans to expand its rental program to include other models and regions over time.

Leasing is one of the most requested financing options, according to the company. Rivian chose to start the program with the R1T, which was the first of its EVs to be produced. With many of Rivian’s supply chain problems in the rearview mirror, the company was able to scale production of the R1T and make it more readily available.

Leasing can give the R1T another boost. The R1S SUV has become the company’s most sought-after model from customers. The rental program may also prove popular because it also qualifies for a $7,500 federal tax credit — a reduced costs that can be applied to their car’s subtotal during the digital purchase process.

Leave a comment