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.