Rivian R1T EV leasing launches in find marketplaces

Rivian electric pickup trucks sit in a parking whole lot at a Rivian services middle on May possibly 09, 2022 in South San Francisco, California. 

Justin Sullivan | Getty Images

Rivian on Monday started off leasing pick styles of its all-electric R1T pickup truck, a shift to expand sales and customer foundation past early adopters of electric motor vehicles.

The enterprise claimed the plan is accessible to shoppers in select states this kind of as California, New York, Florida and Texas – currently well known marketplaces for EVs.

Based on the company’s web page, eligibility is primarily based on zip code, generally for bigger-stop models of the car or truck that can price tag much more than $90,000.

Representatives for Rivian did not immediately reply to request for supplemental specifics.

Leasing has develop into a common way for consumers to test out an electrical automobile without the need of any extended-phrase determination. Executing so also qualifies a buyer for a whole $7,500 federal tax credit history under the Inflation Reduction Act, in contrast to the $3,750 that purchasers of Rivian versions at present qualify for.

Leasing is classified as commercial small business below the IRA and thus exempt from laws that demand the car and battery parts to be produced in North The us. Most EVs for sale these days do not qualify for the full tax credit rating since of exactly where the autos or factors are created.

“Nowadays, Rivian introduced a new way for prospects to get behind the wheel of a Rivian with the introduction of leasing,” the enterprise explained in an emailed statement. “Rivian’s leasing method provides the experience of proudly owning a Rivian with additional versatility.”

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