California-based EV company Rivian Automotive (NASDAQ: RIVN) on Thursday introduced a new program aimed at rewarding U.S. customers who recommend others to buy their vehicles.
What Happened: Rivian announced the new 'Rewards' program on the social media platform X.
Introducing: Rivian Rewards. We're so inspired by the enthusiasm, joy and adventurousness of our owner community, and now we have a new way to say thank you. When Rivian owners invite someone to join our community, both can reap the benefits! Learn more: rivn.co/RivianRewards
Rivian owners can pass on their referral code to potential customers and reap awards when they take delivery of an eligible inventory R1 vehicle. Both the referrer as well as the new buyer will get 750 points (equivalent to $750) in addition to 6 months of charging at Rivian Adventure Network sites.
The points can be used to purchase either Rivian merchandise or another inventory Rivian vehicle within two years, after which they expire. However, they cannot be used for vehicle deposits, custom vehicle configurations, reservations, or vehicle purchases outside of Rivian's R1 Shop, the company said.
Why It Matters: Rivian's new reward program bears resemblance to EV giant Tesla Inc.'s (NASDAQ: TSLA) refer and earn program. Tesla scrapped their older referral program in April but launched a new one earlier this month aimed at rewarding customers for referring new customers.
Rivian's rewards program is currently limited to U.S.-based Rivian owners. The company intends to launch it for Canadian owners in 2025.