California-based electric vehicle startup Rivian Automotive announced the launch of leasing for its R1T electric pickup for customers in some U.S. states.
The company said the program is available to customers in 14 states: Arizona, California, Colorado, Florida, Georgia, Massachusetts, Michigan, Missouri, New Jersey, New York, Nevada, Pennsylvania, Texas and Washington. Rivian says it plans to expand leasing to other states in the future. The R1S SUV isn’t yet available for leasing.
Leasing is limited to R1Ts with a sticker price of at least $89,600 (pricing includes $1,800 for delivery) before dealer-installed options.
Leasing helps to bring down that cost, with drivers who lease an EV potentially able to access the $7,500 federal tax credit offered by the Inflation Reduction Act, as opposed to the $3,750 currently available for purchases of Rivian models. .
Rivian produced 16,304 units in the third quarter, up from 13,992 produced in the second quarter of 2023. It expects to make about 54,000 units in 2023, up from 24,300 produced in 2022.
[source: CNBC]
