Electric vehicle manufacturer Rivian is targeting owners of popular gas-powered trucks and SUVs with a new promotion offering discounts of up to $5,000 and a year of free charging for customers who trade in their vehicles for a Rivian EV. The “electric upgrade offer” applies to three R1T pickup truck trims and one R1S SUV model.
Targeting Popular Gas-Powered Vehicles
The promotion, which began on April 22, is aimed at some of the most popular gas-powered trucks and SUVs on the market, including the Ford F-150, Toyota Tacoma, Jeep Wrangler, and even German automakers like Audi and BMW. The discount varies between $1,000 and $5,000, depending on the model being traded in.
Eligible trade-in vehicles include 2018 or newer models of the Ford F-150, Explorer, Expedition, and Bronco (excluding the Bronco Sport), as well as the Toyota Tacoma, Tundra, Highlander, and 4Runner. Jeep models like the Grand Cherokee, Wrangler, and Gladiator also qualify, along with the Audi Q5, Q7, Q8, and the BMW X3, X5, and X7.
Responding to Softening Demand for Premium EVs
Rivian’s decision to offer these discounts comes as demand for premium and luxury EVs has weakened across the industry, leading automakers like Ford, Lucid, and Tesla to reduce prices. Many legacy automakers have also scaled back plans to shift their portfolios entirely to battery-electric vehicles, with gas-powered vehicles and hybrids regaining popularity due to their steady sales and profit margins.
While Rivian’s expected production of about 57,000 EVs in 2024 won’t dethrone the best-selling trucks on the market, the promotions could help the company attract a new group of customers.
Offer Details and Free Charging Incentive
To be eligible for the discount, customers must lease or buy a Rivian vehicle and take delivery by June 30. In addition to the trade-in discount, Rivian is offering a year of free charging at any Rivian-owned charger in the United States.
Although Rivian’s fast-charger network, known as the Rivian Adventure Network, is not as extensive as Tesla’s Supercharging network, the company has installed 433 fast-chargers at 71 stations across several states, including Arizona, California, Oregon, Washington, Colorado, and along the East Coast. Rivian has also installed 482 Level 2 chargers (called Waypoints) at 180 live sites throughout the country.
Rivian’s “electric upgrade offer” is a strategic move to attract owners of popular gas-powered trucks and SUVs to switch to electric vehicles. By offering discounts and free charging incentives, the company aims to boost sales and compete with established automakers in the EV market. As the industry continues to evolve and consumer preferences shift, promotions like these may become more common as EV manufacturers seek to expand their customer base and accelerate the transition to cleaner transportation.
