Rivian Offers $5K ‘Electric Upgrade’ Discount to Customers With Select Gas-Powered Vehicles

Rivian is scoping out customers with gas-powered Ford and Toyota SUVs and trucks and offering them discounts of up to $5,000 on its EVs, along with a year of complimentary charging. This offer is available to customers who opt to trade in their gas-powered trucks and SUVs.

On Earth Day, Rivian introduced a targeted offer aimed specifically at some of the top-selling and widely used gas-powered SUVs and trucks available. Among the vehicles on Rivian’s radar are the Ford F-150, Toyota Tacoma, and Jeep Wrangler, as well as models from German automakers Audi and BMW. The discount ranges from $1,000 to $5,000 depending on the specific model. Rivian is extending these discounts to three of the R1T pickup truck trims and an R1S SUV model.

The offer was promoted on social media and via an email to prospective customers on Monday as the “electric upgrade offer.” This significant price reduction comes as the demand for premium and luxury EVs has declined across the industry, giving car makers such as Tesla, Ford, and Lucid limited choice but to reduce prices. Due to fluctuating demand, many traditional automakers have reevaluated their strategies to transition solely to battery-electric vehicles. Gas-powered vehicles and hybrids are back in high demand due to their steady sales and attractive profit margins.

Although Rivian is anticipated to produce around 57,000 EVs in 2024, it’s not expected to outsell the top-selling trucks in the market. However, this approach could help Rivian capture the interest of a brand-new customer base.

The trade-in deal is on the table specifically for owners of gas-powered vehicles. Eligible models include 2018 or newer Ford F-150 trucks, Ford Explorer, Ford Expedition, and Bronco (excluding Bronco Sport). Also making the list are 2018 or newer Toyota Tacoma, Toyota Tundra, Toyota Highlander, Toyota 4Runner, Jeep Grand Cherokee, Jeep Wrangler, and Jeep Gladiator vehicles. Additionally, owners of the Audi Q5, Q7, and Q8 and the BMW X3, X5, and X7 models qualify to take part in the offer.

The offer is available to customers keen to lease or purchase a vehicle, with the condition that they take delivery by June 30. To sweeten the deal, Rivian is also providing a year of complimentary charging at any Rivian-owned charger in the United States. It’s important to mention that Rivian’s fast-charging network, known as the Rivian Adventure Network, is not as extensive as Tesla’s Supercharging network. At the moment, Rivian has 433 fast chargers at 71 stations across Arizona, California, Oregon, Washington, Colorado, and the East Coast. On top of this, Rivian has installed 482 Level 2 chargers, called Waypoints, at 180 locations nationwide.