Hyundai Ioniq Electric Subscription From $275 A Month, Arriving In US Now

4 days ago by Sebastian Blanco 30

2018 Hyundai Ioniq

2018 Hyundai Ioniq

Deal only valid in California

Buying a Hyundai Ioniq just got more options. After announcing a subscription plan for the Ioniq Electric back in November, the automaker has revealed just how much it will cost to treat your EV like you do your phone.

And the lowest number you can get is … drumroll … $275 a month, plus tax.
Hyundai Ioniq Electric Pricing

That’s what it’ll cost you to drive as much as you want in a new EV for 36 months. There is a $2,500 down payment, but the state of California offers a rebate of, well guess what, $2,500. If you wonder what’ll happen if you don’t live in California and so can’t get the rebate, well guess what, Hyundai’s subscription offer is only good in the Golden State. And, for now, it’s only available in a few parts of California, specifically Los Angeles, Orange, and Riverside counties. The subscription will come to NorCal and SanDiego later this year.

As you can see in the chart, there are three trim options: the base Electric trim, the Limited ($305 plus tax), and the Limited with the Ultimate Package ($365 plus tax). All have the same “zero-money” down initiation fee and are for a three-year subscription. If we do the math, then we can see that this lease-like subscription will end up costing you $9,900 for the Electric, $10,980 for the Limited, or $13,140 for the Ultimate Package.

As we learned recently, to outright buy an Ioniq Electric will cost you at least $29,500, or $22,000 after the $7,500 federal tax credit. It’s not a good idea to simply compare the numbers, though, because the Unlimited+ price covers more than just the car itself. As the press release says, it includes:

$0 initiation fee after rebate
Hassle-free transaction
Initial tax, title, license and fees (except California sales tax)
Unlimited mileage (no mileage penalties)
Electric charging reimbursement
Scheduled maintenance [for first 50,000 miles]
Vehicle wear items

Hyundai is also trying to make it as easy as possible to get your Ioniq EV, since you can go online and pick out your car and find out how much it will cost (pretty much, what we explained above). You do a credit check, then do to the dealer when the car is in, fill out some forms, and and off you go. That’s their idea, any way.

2017 Hyundai Ioniq Electric is currently a region-limited (think CARB) offering

Editor’s note:  Word on “the street” is that first shipments (in very limited numbers) of the Hyundai Ioniq Electric are just now arriving in the Great LA area.

It is also worth noting that Hyundai’s official “arrives this Spring” website disclaimer has now been replaced with “Currently, Ioniq Electric is only available to California residents”, an important distinction as the Ioniq was previously to be made available at dealerships in California and 9 other ZEV states out of the gate.

Also to be aware of, the Ioniq Electric is to remain a compliance-only offering in 2017, while the upcoming Ioniq Plug-In Hybrid will be offered nationwide (special order outside 10 ZEV states), beginning with the 2018 model year this Fall.  At some point, Hyundai is expected to open Ioniq Electric availability to the rest of the US.

Source: Hyundai, Hat tip to Steven S, Robert N!

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34 responses to "Hyundai Ioniq Electric Subscription From $275 A Month, Arriving In US Now"

  1. DJ says:

    I thought this was supposed to include insurance as well?

    $275 a month doesn’t seem like that great of a deal, well unless you expect to put a boatload of miles on it!

    1. William says:

      Insurance additional cost would vary greatly on many additional factors of the Driver. Age, credit score, location of residence, tickets/accidents, years licensed to drive, and other metrics are used by different insurers.

  2. Rich says:

    “Electric charging reimbursement” I would like to hear the details on how this is accomplished.

    I’ll be happy to see this deal once the 2018 releases with 200+ miles range and they drop the $2,500 down payment. Until then, I’m with DJ. This doesn’t seem like a great deal.

    1. Spies says:

      According to https://www.hyundaiusa.com/unlimited-plus reimbursement is currently 18.44 cents per kWh. As far as how it will be measured and reported no idea but I suspect it will involve the vehicles telematics. Personally I would be way ahead at that rate since I do almost all of my charging at home and off peak for 10 cents per kWh.

  3. Jonathan B says:

    That doesn’t seem like a terribly good deal either. Especially for the range of the car. I could lease a Bolt for nearly the same price. Granted I drive about 17K/year so the unlimited mileage thing is convenient but there’s lease deals out there below $100/mo for the 2017 leaf with a similar down payment. That would be a better deal even with a mileage penalty. I have high hopes for this car, but not at this price. If it was the same deal for $199, I’d consider it.

  4. Rob Stark says:

    You can lease a Fiat 500e with the CA rebate as down payment plus $59/month.

    1. JMac says:

      Yeah, the fiat 500e in california in many locations was no money down. The California rebate could be as high $4000 depending on income levels, making it a free car for 3 years!

      These ioniq numbers are really disappointing.

  5. Robert says:

    Mileage reimbursement is $0.042 per mile, up to 50,000 miles. $2,100.

    1. William says:

      Barely $.17 per kw of reimbursement,if those numbers are correct. Hope I am not missing something, but that won’t cover much, when $.35. – $.50 + is the ChargePoint and EVgo current rate.

  6. David Lane says:

    I was not aware that this BEV was only a compliance car 🙁 Sure makes me appreciate Bolt and Leaf.

    1. Tom says:

      I think it is more like the combination of two things both related to being new to the hybrid/ev game.

      1. They’ve (also including Kia) recently rolled out LOTS of product in the hybrid/phev/bev space. Entirely possible there’s a battery constraint and they figure they can built significantly more cars for a given amount of battery supply if they stick with most being hybrid or PHEV for now.

      2. They’ve had hybrids for a couple years now so getting some experience under their belt but this is the first BEV and it behooves them not to roll them out in large numbers at first only to have something go badly and wreck the brand and eat lots of money. Better to build a few thousand and let them out in the wild for a year or so and adjust from there.

  7. David Lane says:

    I give Hyundai credit for thinking outside of the box and coming up with this subscription model. I think it is creative and will be very attractive to some.

    1. William says:

      Unlimited Miles and free Vehicle Wear Items are indeed going to be the items that don’t come with a 3yr/45 K Lease. Leases can come with upfront prepaid maintenance, if you cough up the extra charge up front or roll the expense into the monthly Payments.

      1. JustWilliamPDX says:

        It doesn’t pencil out for me personally. An EV with limited range is highly unlikely to rack up a lot of miles. And maintenance expenses? In the 26 months of my Spark EV lease, the only maintenance has been two tire rotations. Electricity? Already inexpensive.

        I like the Ioniq, but this “subscription” model seems like a gimmick.

        1. menorman says:

          I’m not sure I’d call the Ioniq “limited range”. Sure, it’s not 238 like the Bolt or 330+ like MS100D, but if the ~125 mile range estimate is accurate, then that’s covers a decent number of trips for most people. Add on that DCFC that recharges to 80% in around 20 minutes and VW about to flood CA (and then the nation) in fast chargers and I think the Ioniq will be a decently viable vehicle for many people for trips of up to ~400 miles.

          1. SparkEV says:

            It won’t charge 80% in 20 minutes. IoniqEV has 28 kWh battery (or is it 30 kWh?), 80% is 22.4 kWh. To get that in 20 minutes, charger will need to supply 67 kW, which no charger can do in US at the moment. Even in few years, most of them will be the ones we have now.

            It could take 30 minutes for 80% using 50 kW DCFC. But that’s IF it charges like SparkEV (no taper to 80%).

  8. Durkle says:

    Hyundai, I’ll do a MI pilot of this if you’re interested… At nearly 30k mi a year this would be a steal for me…

    1. =j says:

      I’ll take two down in Texas if some high temp/humidity testing is required.

  9. leafowner says:

    125 miles of range from an all new EV would have been cool — 5 years ago…..

  10. Assaf says:

    Ugh. Have I missed the part when Hyundai said it’ll be a compliance-only car?

    Or is this the first insideevs story informing us so?

    If yes, this the first time – then AFAIK *this* should be the major headline:

    “Ioniq BEV to be offered only in compliance states in the US.”

    Huge bummer.

    And IEV should work on behalf of drivers and EV advocates, not just relaying automaker spin and promotion.

    1. Jay Cole says:

      We noted the availability – both now in California/LA, and as to its national availability…as a PSA of sorts to our readers

      1. Assaf says:

        Jay,

        Thanks for responding quickly. But this (Ioniq being California-only) should be its own separate story.

        Hyundai has been pulling our leg with Ioniq, just like Fiat/Honda/GM/Toyota did with their compliance cars in 2013.

        First, Hyundai said the BEV will be available early 2017, and generated tons of hype.

        Then it became April.

        Now, we learn it will be a compliance-state-only car, in unknown quantities.

        This site has promoted the Ioniq heavily, singing its praise. Personally, I included the Ioniq as a recommended option in a 2017 buyer’s guide I posted, taking Hyundai’s at its word (or its selective omission) that it will be a nationwide car.

        Now it’s compliance-state only, and in fact California-only until further notice. WTH?

        Insideevs should hold automakers accountable and call them out on such tactics which ultimately undermine EVs. That may help prevent them from happening.

        This is especially true with the Ioniq BEV, because globally it is *not* a compliance car, so the company obviously makes it in substantial quantities.

        1. Jay Cole says:

          The longer term plan from Hyundai (as I understand it) is to make the Ioniq Electric (BEV) an option outside of CARB states for the 2018 MY. You won’t be seeing any on the lots as a dealer stock program any time soon outside the 10 ZEV states.

          Perhaps I should add that further detail to the end of the story (“At some point, Hyundai is expected to open Ioniq Electric availability to the rest of the US”) just to be clear, as there may be some confusion there with how we worded it.

          Personally, I would not be surprised to see Hyundai ultimately not make it available in any significant amount (like the Sonata PHV, Focus Electric type numbers) until the longer range, ~200 mile version arrives in 2018 (like in the Fall as a 2019 MY)

          1. Assaf says:

            Yup, definitely worth its own story, rather than as a footnote to this one which is just about to roll off the main page.

            Can you please do it?

            This is unacceptable from Hyundai. They sell this car in large quantities in Korea and Europe. They have a relatively large dealer network in the US. Their promotion and spin had indicated big plans for the US, not “special order”. We should call them out on it and press them to address this.

            In the story I wrote (which I just revised), among all new midmarket 2017 offerings, a poll placed the Ioniq a close #2 after the Bolt, in terms of reader interest in buying them.
            http://www.dailykos.com/story/2017/02/12/1631708/-Resist-this-Oil-Regime-Switch-to-an-Electric-Vehicle-Now-2-Great-New-Mid-market-Options-W-POLL

            Thanks, Assaf

            1. Jay Cole says:

              Ok, its just me butchering my own comments and causing confusion now, lol. My apologies…I’m going to rephrase the comments/story to not clutter things up for others reading.

              The 2018 MY Ipniq Electric…whenever that arrives, is expected to ultimately roll-out nationwide.

              The issue is/has been with the timing. The Ioniq BEV has moved from Q3 2016 nationally, to late/winter 2016, to Feb 2017 CA/ZEV states, to limited California dealers in May. For now, if you want one in say, Wyoming (or what have you), you have to (in theory) special order it…and wait, you won’t be able to go to a dealer anytime soon and sit in it and buy it.

              With that said, with this many delays, and the word of a 200 miler in 2018, the water is getting murkier on availability/volumes.

              1. Assaf says:

                Yeah I think I understood all that from your last comments (and between their lines… I do remember the big 2018 range promise).

                But most ppl are not that crazy to follow everything this closely. I think this merits another clarification Q&A to Hyundai USA, and then a separate story about realistic timing/rollout expectations.

                Sorry to bother…

                1. Jay Cole says:

                  Nope, I take the bullet on this one; I was falling over my own words trying to add some details, lol.

                  …only been ~20,000 odd articles now, (=

    2. David S. says:

      I agree with Assaf. This is a huge disappointment.

      1. David Lane says:

        +1

  11. bennyd says:

    Later this year Nissan will release the 2nd gen 200 mile Leaf and the Tesla Model 3 will begin taking shape. All this marketing pressure will definitely Impact Hyundai’s first attempt at pricing. Their “subscription” concept is definitely a welcome addition to all this.

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