Gabriel Walker
Nov 28, 2023
Rivian Automotive has kicked off the leasing of its electric vehicles by offering it for its R1T pickup truck in certain parts of the United States.
The decision, made only days before the launch of Tesla's Cybertruck — archrival of the R1T — has allowed users to rent the electric vehicle for some time and make monthly payments instead of buying the truck in one go.
As per the manufacturer, the leasing offer is initially available for states including California, New York, Florida, and Texas, TechCrunch reported.
The automaker is also planning to add more models to the list of its leasable vehicles and make them available in more states in future.
Rachel Maniago, a spokesperson from Rivian, highlighted that this leasing option had been in high demand from the customers, and given this demand, the company decided to start with the R1T because it was the first electric vehicle by Rivian.
Moreover, people who are willing to lease the R1T can still get a $7,500 discount from the government as part of a tax credit for buying electric vehicles via the digital purchasing process.
Rivian, an American electric vehicle manufacturer, increased its estimate earlier this month for how many vehicles they'll produce this year due to strong demand.
By announcing this leasing option for the R1T, the automaker is expecting to capture more people and make them buy it.
Similarly, Tesla recently lowered its EV prices to sell more cars as electric vehicles from companies like Tesla have been facing challenges because of relatively higher interest rates.
