Rivian offering up to $5,000 discount to some BMW, Jeep, and Toyota owners

Stalling EV sales pose a major problem to the carmakers that don’t have gasoline-powered or hybrid models in their portfolio. Rivian wants to avoid riding this wave by offering a discount of up to $5,000 to buyers who trade in select 2018-and-newer pickup trucks and SUVs.

Only open to residents of the United States and Canada, the offer specifically targets owners of the following vehicles:

Audi: 2018 or newer Q5, Q7, and Q8
BMW: 2018 or newer X3, X5, and X7
Ford: 2018 or newer F-150, Explorer, Expedition, and Bronco (excluding the Bronco Sport)
Jeep: 2018 or newer Grand Cherokee, Wrangler, and Gladiator
Toyota: 2018 or newer Tacoma, Tundra, Highlander, and 4Runner

Put another way, the offer is aimed at motorists currently driving a vehicle that might be compared to the R1T and the R1S. The list exclusively consists of off-roaders, pickups, and upmarket SUVs. The brand doesn’t want your A4, your Mustang, or your Prius Prime. 

The discount depends on the model customers buy or lease. The list is as follows:

R1T with the Standard or Standard+ battery pack: $3,000
R1T with the Large battery pack: $4,000
R1T with the Max battery pack: $5,000
R1S with the Large battery pack: $1,000

Rivian adds the discount to the trade-in value. If it buys your 2022 Bronco trade-in for, say, $42,000, you get a total of $47,000 to use toward the new truck. Buyers can claim this bonus regardless of whether they buy or lease, and Rivian is also throwing in a year of free charging.

Buyers who want to take advantage of the discount need to purchase their pickup or SUV directly through Rivian and take delivery between April 22 and June 30, 2024 — no later and no sooner. And, the brand notes that the year’s worth of free charging can only be redeemed at Rivian Adventure Network stations. Time will tell whether the tried-and-true method of putting cash on the hood is enough to spur EV sales.