Rivian has lowered lease prices for several configurations of its R1T pickup and R1S SUV for orders placed through the end of June, its website showed on Sunday.
As initially shared by X user ‘Hilbe,’ monthly lease payments for the R1T Dual-motor trim dropped to $808 from $898, while the Tri-motor version declined to $1,258 from $1,298.
The entry-level Standard model remained unchanged at $778 per month.
For the R1S SUV, the Dual-motor lease rate was reduced to $848 from $938, and the Tri-motor to $1,298 from $1,358. Pricing for the Standard trim held steady at $808.
Rivian is also running the “Electric Refresh Offer,” which provides $3,000 off any R1 model plus a $7,500 lease credit, contingent on trading in a battery electric vehicle.
Additionally, the company introduced a 2.99% APR financing offer for 60 months on R1 Dual-motor configurations equipped with Large or Max battery packs and the Performance Upgrade.
In the U.S., Rivian’s R1S SUV starts at $75,900 for the Dual Standard trim, $83,900 for the Dual-motor version, and $105,900 for the Tri-motor model. The R1T pickup starts at $69,900.
Rivian produced 14,611 vehicles and delivered 8,640 units in the first quarter at its manufacturing plant in Normal, Illinois.
On Friday, Bloomberg reported that Rivian is seeking to raise up to $2 billion, in part to refinance debt due in 2026.
Initial discussions pointed to an interest rate near 10%, though terms may still change, according to the report
UBS said in May that Rivian still faces limited brand awareness in the U.S., citing a survey it conducted with EV consumers.
In a research note, analyst Joseph Spak said that while “an increasing number of U.S. consumers are aware of the Rivian brand, overall awareness remains low.”
