Hyundai Evolve+ EV Subscription Program Gets You an Ioniq 5 for $899 Per Month
Hyundai has launched a one-price app-based subscription service called Evolve+ EV, which includes insurance, roadside assistance, and maintenance. At launch, the available vehicle choices are the Kona Electric and the Ioniq 5, and the service is only available in seven cities across six states. Subscriptions for the Kona Electric start at $699 per month, with subscriptions for the Ioniq 5 starting at $899 per month.
Hyundai is jumping into the vehicle-by-subscription game, with the announcement of its new Evolve+ EV service. At launch the service is pretty limited in scope. The Kona Electric and Ioniq 5 are the only vehicles available to subscribers. The Kona starts at $699 per month, while the Ioniq costs $899 per month. Hyundai says Evolve+ is better than vehicle subscriptions offered by other manufacturers because subscribers can cancel at any time during the service, and there are no commitments beyond month-to-month payments.
All the Details and Specs
That monthly price is intended to be all-encompassing, so it also includes registration, insurance, roadside assistance, and maintenance costs. Hyundai is launching the program in an effort to attract what it describes as the “EV-Curious” audience. The manufacturer hopes that by offering what it feels is a lower barrier of entry for potential EV shoppers, it will be able to increase EV adoption and awareness.
Each monthly term is considered 28 days and allows for 1000 miles. Going over that 1000-mile limit results in an additional charge of $20 per 100 miles until the 1500-mile mark; after that, things get expensive at $1 per mile. Any miles under the limit will be rolled over if you resubscribe to the service.
There’s an App for That
Just like everything else these days, there’s an app for the service. Subscribers can go in the app, find a car, and pay online. No pesky human interactions needed until you pick up and drop off the car at your local dealer. In order to be eligible for Evolve+, drivers need to be at least 25 years old, have at least three years of clean driving, and hold a credit score of 650 or higher.
We’re pretty big fans of the Hyundai Ioniq 5 around here. You may actually remember that we named it our EV of the Year for 2022. Hyundai used a $47,125 Ioniq 5 as a cost comparison example, estimating monthy purchase payments of $850 based on six-year financing for a customer with solid credit. Monthly payments on a three-year lease come out to closer to $600, though neither the lease nor purchase prices factor insurance and maintenance in.
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