Rivian is currently offering drivers willing to trade their gas-powered pick-up trucks for an electric vehicle with huge discounts of up to $5,470.

According to its "Electric Upgrade Offer" launched on Tuesday, Rivian will be accepting eligible R1 vehicles "as part of the purchase or lease" for any Rivian vehicle model and pack combination.

Among the vehicles qualified for the discount includes Ford F-150, Explorer, Expedition, and Bronco models. Toyota Tacoma, Tundra, Highlander, and 4Runner made from 2018 to the present time are also eligible.

As for Jeep models, the Grand Cherokee, Wrangler, and Gladiator models can be traded for an EV. Audi Q5, Q7, and Q8, as well as BMW X3, X5, and X7, are also eligible for the offer.

As of writing, the EV upgrade offer is currently available only to residents of the US and Canada.

Also Read: Rivian Might Be Developing an E-Bike To Expand Its Market

Is it Worth to Switch to EV Trucks?

So far, EV trucks have the same capabilities as regular gas-powered trucks with the main difference lying in the vehicles' power source and architectural design.

For those traveling regularly, gas-powered trucks would be more optimal thanks to widely accessible gas stations, in contrast to EVs which are limited to areas that have charging stations.

It can be considered that EVs have more mileage covered without needing to change parts, although traditional trucks have longer life cycles in general thanks to easily interchangeable and reusable parts.

In the end, it depends on the driver's preferences and perception of using their EVs as more of an investment rather than a mode of transportation.

Related Article: 5 Things to Consider Before Buying an Electric Vehicle

Rivian Steps Up Amid EV Sales Slowdown in the US

Rivian's latest deal offer marks the growing trend of automakers rolling out big discounts for their EVs amid slower sales in the US.

Several reports have already noted stagnating EV sales in the US since last year despite the government's push for a transition towards zero carbon-emission vehicles by 2030.

Tesla has been notably hit by the slowdown the most as the company's revenues continue to plummet amid other financial issues it is facing, forcing the automaker to conduct several layoffs last week.

Rivian is no exception, reporting numerous job cuts after disappointing investors with a lower predicted production count for the whole year.

It does not help that the company's stocks have just started recovering after a downhill trend that hit its operations since it first opened in 2021.