Rivian offers (up to) $5,000 discount if you trade in your gas-powered truck

Rivian will give you up to around $5,470 in discount if you trade in an eligible gas-powered truck or SUV when you purchase or lease a qualifying R1 electric vehicle package in the US and Canada. As an "Electric Upgrade Offer" for Earth Day, Rivian said it will accept 2018 or newer Ford F-150, Explorer, Expedition and Bronco (excluding Bronco Sport) vehicles, as well as 2018 or newer Toyota Tacoma, Tundra, Highlander and 4Runner vehicles for trade in. You can also trade in a Jeep Grand Cherokee, Wrangler or Gladiator from the same model years. Rivian will take a 2018 or newer Audi Q5, Q7 and Q8 and a BMW X3, X5 and X7, as well. 

As you can see, some of those models are incredibly popular gas vehicles, like the Ford F-150, as the company is likely hoping to appeal to a wide range of people who may be considering switching to electric. Of course, the amount you get will depend on your vehicle and its condition, which means you could get more if you sell it yourself. In addition, the discount will only apply to specific R1T truck and R1S SUV packs at amounts that range from CAD$1,000 ($730) to CAD$7,500 ($5,470). You'll also still have to put in a $1,000 non-refundable deposit to reserve the configuration you choose, and you must be able to accept a delivery between April 22 and June 30.

As TechCrunch notes, Rivian launched the promo at a time when there's lower demand for electric vehicles, especially for more expensive premium models. Other automakers recently introduced discounts of their own — Tesla, for instance, shaved $2,000 off the starting prices of the Model Y, Model X and Model S. It's also ending its referral program on April 30 and is making its Full-Self Driving software $4,000 cheaper. If you do trade in an eligible gas vehicle to buy an R1, you'll also be able to charge your new EV at all Rivian Adventure Network sites for free for one year.