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Rivian electrical pickup vehicles sit in a parking ton at a Rivian support heart on May 09, 2022 in South San Francisco, California.
Justin Sullivan | Getty Pictures
Rivian on Monday began leasing decide on products of its all-electric R1T pickup truck, a move to increase product sales and buyer base over and above early adopters of electric powered motor vehicles.
The company stated the method is obtainable to prospects in decide on states this sort of as California, New York, Florida and Texas – now well-liked marketplaces for EVs.
Based mostly on the company’s web page, eligibility is centered on zip code, mainly for greater-stop types of the vehicle that can price tag more than $90,000.
Reps for Rivian did not immediately answer to request for extra facts.
Leasing has turn out to be a well known way for prospects to test out an electric auto with out any very long-expression determination. Executing so also qualifies a buyer for a comprehensive $7,500 federal tax credit history less than the Inflation Reduction Act, in comparison to the $3,750 that purchasers of Rivian versions at present qualify for.
Leasing is categorized as commercial business enterprise below the IRA and consequently exempt from laws that need the automobile and battery factors to be built in North The us. Most EVs for sale right now do not qualify for the whole tax credit history because of where by the autos or elements are constructed.
“These days, Rivian released a new way for shoppers to get behind the wheel of a Rivian with the introduction of leasing,” the business claimed in an emailed statement. “Rivian’s leasing method gives the experience of proudly owning a Rivian with far more overall flexibility.”
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