Rivian launched on Friday a promotion offering $5,000 in lease cash on its entry-level dual-motor vehicles, the latest incentive from the electric vehicle maker as it works to drive US sales after the end of the $7,500 EV Tax Credit.
The Irvine, California-based company said customers who lease the Dual Standard configuration of the R1S SUV or R1T pickup can apply the $5,000 toward reducing monthly payments or upfront costs.
The offer runs through November 30 while supplies last.
To qualify, customers must obtain lease approval by November 30 and take delivery of their vehicle before the year end.
Targeting Entry-Level Configurations
The promotion focuses exclusively on Dual Standard variants, the base configurations in Rivian‘s R1S and R1T lineups.
The $699 monthly lease rate applies to dual-motor vehicles with the standard battery pack on 36-month terms, with the actual monthly payment contingent on options selected, money down and other factors.
Broader Lease Pricing
Rivian‘s lease pricing for 36-month terms on 2026 R1S and R1T models varies significantly by configuration.
For the R1S SUV, monthly payments range from $699 for the Dual Standard to $1,729 for the Quad motor variant. The R1T pickup follows a similar structure with rates from $699 to $1,709 monthly.
The Dual with Large Battery leases for $929 per month for both models. The Dual with Large Battery and Performance Upgrade costs $949 monthly for both the R1S and R1T.
The Dual with Max Battery commands $1,069 per month for the R1S and $1,059 for the R1T.
The top-tier Dual with Max Battery and Performance Upgrade leases for $1,099 monthly for the R1S and $1,089 for the R1T.
Both of these configurations are eligible for a $6,500 lease bonus offer rather than the $5,000 available on Dual Standard models.
Tri-motor configurations lease for $1,269 monthly for the R1S and $1,239 for the R1T. Quad-motor variants command $1,729 for the R1S and $1,709 for the R1T.
The lease promotion on Dual Standard models follows Rivian‘s November 1 announcement of new leasing offers starting at $699.
Institutional Investors
As reported on Thursday, JP Morgan has increased its stake in Rivian to a new record between July and September.
The New York-based investment firm disclosed it held nearly 5.7 million shares in the company by the end of September 30, an increase of 1.6 million shares from the previous quarter.
According to data from Nasdaq, 851 institutions collectively hold nearly 668 million shares in Rivian.
The EV maker is primarily backed by Amazon, which invested in the company in 2019 and committed to purchasing over 100,000 electric delivery vans until 2030.
