Hyundai has introduced an EV subscription service in the US at the Chicago Auto Show earlier this week.
Called Evolve+, the program has been developed by Hyundai Motor America and Hyundai Capital America with the goal of providing flexibility and affordability to consumers who want to drive the brand's newest EVs without committing to a purchase or longer-term lease.
Evolve+ is a month-to-month subscription service that covers 1,000 miles (1,610 kilometers), insurance, maintenance, registration and road-side assistance at a starting price of $699 per month for a Kona Electric and $899 per month for an Ioniq 5.
The subscriber can cancel at any time during each subscription period of 28 days and is not bound by a long-term commitment. Hyundai says this is a key difference over other subscription services that require customers to lock into a 3- to 5-month minimum term.
To be eligible for the service, drivers must be at least 25 years old, have at least 3 years of recent driving history and clean driving record, and a credit score of 650 or higher.
For now, Evolve+ is available at select Hyundai dealerships in seven cities in six states, but more locations will be added by the end of this year. Consumers can find available dealers within the Hyundai Evolve+ app.
"With no paperwork, no commitment and no long-term loan, Evolve+ is an optimal solution for the 'EV-curious' car shopper. We've prioritized simplicity and flexibility with the subscription process, allowing customers to place orders and renew on their own terms on their own time all via smartphone. We are hoping that by offering a subscription-based option, we will increase EV adoption and awareness as customers transition into an EV future."
Olabisi Boyle, vice president, product planning and mobility strategy, Hyundai Motor North America
Hyundai argues that its EV subscription service will appeal to customers who might need a car for a short term, such as people who need a car in their winter home, a college student home for the summer, a worker on remote assignment, and many other similar situations.
More importantly, the service will allow consumers to find out what it's like to live with an EV before committing to buying or leasing one.
“Evolve+ gives our customers the opportunity to try an electric vehicle and see if it is right for their lifestyle. Evolve+ makes it really easy for a consumer to drive an EV in a more flexible way.”
Gary Rome, president Gary Rome Auto Group, Gary Rome Hyundai and an Evolve+ pilot dealer
Hyundai Evolve+ app for EV subscription service
Source: Hyundai Motor America