On Monday, Rivian Automotive announced that it would be making its R1T electric pickup truck available for lease to consumers, starting in 14 U.S. states.
Arizona, California, Colorado, Florida, Georgia, Massachusetts, Michigan, Missouri, New Jersey, New York, Nevada, Pennsylvania, Texas, and Washington are among the states where the option is currently accessible. Demand is increased by the $7,500 federal tax credit available to consumers who choose to lease electric vehicles.
The action was taken just a few days before Tesla’s Cybertruck, a rival to the R1T, was released to the public. Because of the ongoing demand, Rivian increased its production estimate earlier this month by 2,000 cars to 54,000 units for the entire year.
The demand for electric vehicles (EVs) has been impacted by high-interest rates, which has led Tesla to launch a price war earlier this year in an attempt to increase sales and increase its market share.