Rivian offers $5,000 ‘electric upgrade’ discount to compete with gas-powered Ford and Toyota trucks and SUVs

Rivian, the electric vehicle manufacturer, is making a bold move to entice customers to make the switch from gas-powered vehicles to electric. The company is offering discounts of up to $5,000 and a year of free charging to customers who trade in their gas-powered trucks and SUVs for one of Rivian’s electric models.

The deal, which started on April 22, is targeting some of the most popular gas-powered trucks and SUVs on the market, including the Ford F-150, Toyota Tacoma, and Jeep Wrangler. Rivian is even extending the offer to German automakers Audi and BMW. The amount of the discount ranges from $1,000 to $5,000 depending on the model, with discounts available on three R1T pickup truck trims and one R1S SUV model.

This move comes at a time when demand for premium and luxury EVs has softened across the industry, leading other automakers like Ford, Lucid, and Tesla to reduce prices. Rivian, which is expected to produce about 57,000 EVs in 2024, is hoping that this offer will help attract a new wave of customers.

To be eligible for the trade-in offer, customers must own specific gas-powered vehicles, including certain models of Ford, Toyota, Jeep, Audi, and BMW. The deal applies to both leasing and buying a vehicle, with customers needing to take delivery by June 30. Additionally, Rivian is sweetening the deal by offering a year of free charging at any of its Rivian-owned chargers in the United States.

While Rivian’s fast-charging network is not as extensive as Tesla’s, the company has installed 433 fast-chargers at 71 stations across the country, as well as 482 Level 2 chargers at 180 sites. This offer is a strategic move by Rivian to expand its customer base and promote the benefits of electric vehicles.