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Rivian Launches Leasing Program for R1T Electric Pickup

Move Comes as Tesla's Cybertruck Prepares for Launch, Offering Customers Access to Full Federal Tax Credit

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Overview

  • Rivian has launched a leasing program for its R1T electric pickup truck in 14 US states, including California, New York, Florida, and Texas.
  • The leasing program allows customers to qualify for the full $7,500 federal tax credit under the Inflation Reduction Act.
  • Rivian's move comes as it prepares for the imminent launch of Tesla's Cybertruck, its biggest competitor in the electric pickup market.
  • The leasing program currently only includes higher-end models of the R1T, with prices starting at around $770 monthly.
  • Rivian plans to expand the program to include other models and regions over time.