Rivian Owners Forum received some interesting information about a potential internal program at the electric automaker that should appeal to most employees. As people aim to work at Rivian, and they are looking to move into the area around Normal, Illinois, housing prices may be high in many cases. Rivian is reportedly offering help with incentives for its workers.
Rather than having a traditional employee discount, which is typically just a discount off MSRP, it's reported that Rivian is willing to pay employees $1,000 per month to drive the R1T electric truck or R1S three-row SUV. If this is true, the "stipend" could essentially cover the employees' monthly payment to have the vehicle. However, at the time of writing, Rivian didn't confirm the program.
The Rivian Owners Forum thread begins with information from an article on WGLT.org related to home buying and home building. As Rivian plans to hire some 1,800 new employees in the Normal area by the end of 2021, apparently, there is little home inventory, and local realtors have had to tell potential home buyers that they can't get them in the home they need for the price they expect. Bloomington Realtor Greg Zavitz says it's currently a solid market for sellers, but not for buyers.
A commetor replied to the post sharing that his brother moved to Normal a few years ago and is currently working at Rivian. Intially, the person shared that his brother ordered the R1T electric pickup truck and will get a $25,000 discount plus $1,000 per month. However, the information was shared incorrectly. It appears the employees may get $1,000 off for some two years, for a grand total of $24,000 off.
After he was corrected about the discount, he wrote:
"So, they are basically getting $24K off. Granted spread over 2 years does not help with the initial purchase. It does make the payment for those two years. Well. depending on rate and money down. To many numbers to figure. I am done."
We'll be waiting to hear from Rivian on this as we keep our eyes on related stories. If Rivian is really willing to offer this to all employees, we can only imagine most folks will take the company up on the offer. It would honestly be difficult to say no to such an offer.
What do you think? Share your wisdom with us in the comment section below.