Looking to save some money on a new Rivian electric truck? The 2024 Rivian R1S and R1T models have been listed by the IRS as eligible for a $3,750 federal tax credit.
This applies to all Rivian R1S and R1T versions that fall under the $80,000 price cap. This includes both the SUV (R1S) and pickup truck (R1T) models, with a variety of battery pack options: Standard, Standard+, Large, and Quad Large. There are a few higher-priced configurations that miss out, but most options are included.
The key thing here is the new, more affordable Standard and Standard+ battery packs. These make the Rivian trucks even more attractive, with the tax credit bringing the price down further.
It’s important to note that this tax credit isn’t the full amount available. To get the maximum $7,500 credit, Rivian would need to meet additional requirements for battery components and critical minerals. However, leasing a Rivian might still qualify for the full credit amount because those battery requirements don’t apply to leases.
So, if you’ve been eyeing a Rivian electric truck, the tax credit is a great reason to take another look. The base models start at $69,900 for the R1T pickup and $74,900 for the R1S SUV (both with the Standard battery). With bigger battery packs and other upgrades, the price can go up, but the tax credit can help offset those costs.
