Rivian has launched a limited program allowing customers in select U.S. states to lease an all-electric R1T pickup truck. The leasing program is currently available in 14 states, including Arizona, California, Colorado, Florida, and Texas, among others. The states were chosen based on factors such as customer location and popularity of leasing. Rivian plans to expand the leasing program to include other models and regions in the future.
Leasing has been a highly requested financing option, and Rivian decided to launch the program with the R1T, the company’s first EV to go into production. With improved production scalability and supply chain solutions, Rivian aims to make the R1T more readily available to customers. The leasing program is expected to be popular, especially since the R1S SUV, Rivian’s most sought-after model, is eligible for the $7,500 federal tax credit, providing a cost reduction during the purchasing process.