Rivian targets gas-powered Ford and Toyota trucks and SUVs with $5,000 'electric upgrade' discount | TechCrunch

Rivian targets gas-powered Ford and Toyota trucks and SUVs with $5,000 'electric upgrade' discount | TechCrunch

Rivian is offering up to $5,000 off its EVs and a year of free charging to customers willing to trade in their gas-powered trucks and SUVs.

The deal, which begins April 22, is aimed directly at the best-selling and most gas-guzzling trucks and SUVs in the market, including the Ford F-150, Toyota Tacoma and Jeep Wrangler. Raven is also going after German automakers Audi and BMW. The price cut ranges between $1,000 and $5,000, depending on the model. Rivian is discounting three R1T pickup truck trims and one R1S SUV model.

The company promoted Monday. “Electrical Upgrade Offer” Email posts to potential customers as well social media. The discounts come as demand for premium and luxury EVs has softened across the industry, prompting automakers such as Ford, Lucid and Tesla. Lower prices. Faced with uncertain demand, even many legacy automakers Reduced plans To shift their departments to battery electric vehicles only. Gas-powered vehicles and hybrids are popular again, thanks to the stable sales and profit margins they provide.

Rivian, which is expected to produce about 57,000 EVs in 2024 alone, won't miss out on the best-selling trucks on the market. But the approach could help him win a new batch of customers.

Only owners of certain gas-powered vehicles will be eligible for the trade-in. These include the 2018 or newer Ford F-150 truck, Ford Explorer, Ford Expedition and Bronco, with the exception of the Bronco Sport. Other eligible trade-ins are the 2018 or newer Toyota Tacoma, Toyota Tundra, Toyota Highlander, Toyota 4Runner Jeep Grand Cherokee, Jeep Wrangler and Jeep Gladiator. The Audi Q5, Q7 and Q8 are also eligible, as well as the BMW X3, X5 and X7.

The deals are applicable to customers looking to lease or buy the vehicle, though they have to take delivery by June 30. Rivian is offering a year of free charging on any Rivian-owned charger in the United States as an extra sweetener. Raven Fast Chargers, dubbed the Raven Adventure Network, aren't as extensive as the Tesla Supercharging Network. The company has installed 433 fast chargers at 71 stations, including in Arizona, California, Oregon, Washington, Colorado and along the East Coast. Rivian has also installed 482 Level 2 chargers (called Waypoints) at 180 Life sites across the United States.

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