This should really juice demand!
The Hyundai Kona Electric has been long awaited in the U.S. But, when it arrives here early next year, we now know how much it will cost: $36,450. If we subtract the $7,500 federal tax credit from that, we're looking at a mere $28,950. Then, there are the various state incentives that can reduce that number even more. Californians, for example, could be looking at an overall starting price of just $26,450!
What buyers will get in return is a competent compact crossover with a 64-kWh battery pack that returns an impressive EPA-rated range of 258 miles. That's the best range of any all-electric available in the U.S. that isn't a Tesla. The Kona Electric will come in several trim levels and pricing for higher-spec versions will be announced soon, according to the Korean automaker.
We believe that, at this price level, demand for the Kona Electric should be pretty significant. Though we had worried that the supply from the Korean automaker might be somewhat limited, the company has, recently, said that it will satisfy the U.S. hunger for the vehicle.
This news confirms for us that 2019 will be an extremely interesting one with regards to how the different plug-in choices affect the market. Will, for instance, the competitive arrival of this Hyundai have a negative effect on sales of existing electric models like the Chevy Bolt, or will it help expand the market overall? Perhaps it will force other automakers to sharpen their pricing pencils or offer more features in their offerings.
Check out the official press blast below for all the details.
Hyundai Kona Electric
2019 HYUNDAI KONA ELECTRIC PRICING CONFIRMS AN UNPRECEDENTED SUB-$30K ELECTRIC CROSSOVER VALUE WITH 258 MILES OF RANGE VIEW ONLINE
• Kona Electric Starts Below $30,000 with Available $7,500 Tax Credit • Generous 258-Mile Estimated Range Meets More Varied Lifestyle Needs • New Electric CUV offers Youthful Design, Sporty Driving Character, Leading Safety Technology and Advanced Infotainment Features in an Affordable, Compact Footprint • Abundant Suite of Standard Safety Equipment
FOUNTAIN VALLEY, Calif., Dec. 14, 2018 – Hyundai today announced the starting price for its long-awaited 2019 Kona Electric convention-breaking electric crossover. The Kona Electric starting price is $36,450, for an effective net price of $28,950 ($29,995 including delivery), with the electric vehicle tax credit of $7,500 factored in. Customers may receive the available federal tax credit of up to $7,500, dependent on individual tax circumstances, yielding a sub-$30,000 net value.
Pricing for other Kona Electric trims will be announced shortly. Kona Electric rides on an all-new CUV platform and is Hyundai’s first compact electric crossover for the U.S. market, appealing to consumers with active, eco-focused lifestyles of all kinds. Kona Electric models will be produced in Ulsan, Korea and will be available in the beginning of 2019, with initial availability in California and subsequently in the ZEV-focused states in the western and northeastern regions of the U.S. market.
“Our new Kona Electric crossover is an exceptionally affordable, stylish and efficient compact electric CUV, tailored to the needs of customers who pursue eco-focused active lifestyles requiring generous range,” said Mike O’Brien, vice president of Product, Corporate and Digital Planning, Hyundai Motor America. “We’re confident it will set new standards for the electric-propelled compact CUV segment, with outstanding value, range flexibility, appealing design, cutting-edge connectivity, and class-leading available safety features.”