Rivian said customers must take delivery of its R1T pickup or R1S SUV by June 30 to secure the $7,500 U.S. federal tax credit on leased vehicles.
Its financing partner JPMorgan Chase is moving to limit potential exposure ahead of proposed changes to electric vehicle (EV) subsidies as the Senate releases a new version of Donald Trump’s “One Big Beautiful Bill.”
The cut-off date, initially reported by Rivian-focused blog Riviantrackr, applies to new and existing lease orders under Rivian Financial Services, which uses Chase to claim the federal incentive and pass the benefit to customers through reduced lease payments.
Rivian vehicles do not currently qualify for the purchase credit due to battery sourcing restrictions.
The decision comes as Senate Republicans advance a broad legislative package known as the “One Big Beautiful Bill,” which would overhaul tax credits for clean energy and electric vehicles.
Under the latest Senate draft, the $7,500 tax credit for new EV purchases would end 180 days after the bill is signed into law, while the credit for leased EVs manufactured outside North America would terminate immediately.
Leased vehicles that meet stringent North American assembly, battery sourcing and mineral content requirements, such as Rivian’s models, could continue to qualify for the credit for up to 180 days after enactment.
In addition, the proposed legislation would eliminate the $4,000 tax credit for used EVs 90 days after passage.
Unlike the House version, which would allow the new EV purchase credit to remain in place through this year and extend credits through 2026 for automakers that have not yet sold 200,000 vehicles, the Senate bill accelerates the timeline and removes these provisions.
The plan would also cut the 48E Investment Tax Credit for solar and wind energy projects, reducing it to 60% of its current value by the end of 2026 and to 20% by the end of 2027.
Projects beginning construction after 2027 would no longer qualify. Other eligible technologies, including energy storage, would see their credits phased down to 75% for projects starting in 2034, 50% in 2035, and eliminated thereafter.
Rivian is the first automaker to confirm an official end date for the lease credit under the new policy risk, but other brands that use Chase for lease financing, such as Ford and Nissan, may adopt similar measures, according to Riviantrackr.
The announcement comes as Rivian prepares to refresh its flagship models.
Last week, the California-based EV maker revealed pricing for its 2026 model-year R1S and R1T, which are scheduled to roll out later this year.
The 2026 R1S SUV will start at $76,990 for the base Dual-Motor Standard variant, while the R1T pickup will start at $70,990.
Top-end Tri-Motor trims will be priced at $106,990 and $100,990, respectively, reflecting year-over-year increases of about $1,090 for most configurations.
Rivian registered 3,688 vehicles in the United States in May, up 1.9% from a year earlier, according to data from Motor Intelligence.
The total rose from 2,970 units in April but remained below registration volumes seen in February and March.
Rivian has recently promoted Marina Hoffmann from Vice President and Head of Communications to Chief Communications Officer (CCO).
Hoffmann succeeds Sarah O’Brien, who previously served as Rivian’s Chief Communications Officer between mid-2023 and last Summer.
