Summary
– 2024 Rivian R1S and Rivian R1T eligible for $3,750 federal tax credit
– Rivian expanding EV lineup with smaller, more affordable R2 and R3 models
– Rivian offers various battery and powertrain options with different pricing
– IRS lists five R1S and seven R1T versions under $80,000 for tax credit
– Leasing Rivian vehicles allows for $7,500 incentive without battery requirements
Article
**Rivian R1S and R1T Eligible for Federal Tax Credit: What You Need to Know**
With the 2024 Rivian R1S and R1T now listed as eligible for the $3,750 federal tax credit, the incentive jumps to $7,500 when leasing. This expands the potential savings for consumers interested in these electric vehicles. The R1S and R1T models with Large and Max battery packs were known to qualify for half of the maximum incentive, but the official confirmation of eligibility for the all-new Standard and Standard+ battery packs was previously missing, making this news significant for those looking to purchase or lease a Rivian EV.
**Rivian Expands EV Lineup**
Rivian’s current EV lineup includes the R1S seven-seat SUV and the R1T pickup, both available in multiple versions. However, the brand plans to expand its offerings in the coming years with smaller and more affordable R2 and R3 models. This move aims to cater to a broader range of consumers, making electric vehicles more accessible to those looking for sustainable transportation options.
**Qualifying for the Tax Credit**
All Rivian R1S and R1T models with a price cap under $80,000 are eligible for the $3,750 incentive when purchasing. This includes various versions such as the Dual Standard, Dual Standard+, Perf. Dual Standard+, Dual Large, and Quad Large, among others. The more affordable battery options, Standard and Standard+, are specifically highlighted as qualifying for the incentive, providing potential savings for buyers interested in these models.
**Battery and Powertrain Options**
The base Rivian R1S starts at an MSRP of $74,900, while the R1T pickup starts at $69,900. These prices apply to models with a Standard battery, Dual Motor all-wheel drive powertrain, and 21-inch wheels. There are additional battery options such as Standard+, Large, and Max, as well as powertrain choices like Performance Dual Motor and Quad Motor, each with corresponding price variations. This range of options allows consumers to customize their Rivian EV to suit their preferences and budget.
**Understanding the Pricing**
With a $3,750 tax credit available for qualifying Rivian R1S and R1T models, potential buyers can benefit from savings on their purchase. The effective price, after factoring in the incentive, is listed for each configuration to give consumers a clear understanding of the pricing structure. By choosing an eligible model below the $80,000 price point, buyers can take advantage of the tax credit to make their electric vehicle purchase more cost-effective.
**Final Thoughts on Rivian’s Tax Credit Eligibility**
With Rivian’s expansion of its EV lineup and the eligibility of the R1S and R1T models for the federal tax credit, consumers have more options when considering electric vehicles. The availability of incentives for purchasing or leasing these models can make them more attractive to environmentally conscious consumers looking to reduce their carbon footprint. By understanding the tax credit qualifications and pricing options, interested buyers can make informed decisions when exploring Rivian’s electric vehicle offerings.
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