Rivian launches leasing program for its all-electric R1T pickup in 14 states

Rivian kicked off Monday a limited program that will give customers in select U.S. states the option to lease an all-electric R1T pickup truck.

For now, customers living in 14 U.S. states can access the leasing program via the R1T configurator page on its website. The states, a list that includes Arizona, California, Colorado, Florida and Texas, were chosen based on factors such as where Rivian customers are located and where leasing is most popular, according to the company. Other qualifying states include Georgia, Massachusetts, Michigan, Missouri, New Jersey, New York, Nevada, Pennsylvania and Washington.

Rivian spokesperson Rachel Maniago said the company plans to expand its leasing program to include other models and regions over time.

Leasing has been one of the most requested financing options, according to the company. Rivian opted to start the program with the R1T, which was the first of its EVs to go into production. With many of Rivian's supply chain problems now in the rearview mirror, the company has been able to scale production of the R1T and make it more readily available.

Leasing could give the R1T another boost. The R1S SUV has become the company's most sought after model from customers. The leasing program may also prove popular since it is also eligible for the $7,500 federal tax credit — a cost reduction that will be applied to their vehicle subtotal during the digital purchasing process.