Last month, the government announced the grant available for new EVs was being cut from £3,000 to £2,500, while funding was being limited to cars with a list price of £35,000 and under – slashed from £50,000 previously.
The latter move meant many EVs previously available with the grant suddenly missed out on the incentive. Since then a number of manufacturers have reduced pricing for their EVs, including Citroen, Vauxhall, BMW and Nissan to name just a few.
Now Hyundai is following suit, too, though its Kona Electric is different because of its 300-mile range – the longest of any EV eligible for the revised grant. While the Kona is sold with a smaller 39kWh battery (it’s able to travel for 189 miles on a charge), which remained eligible for the revised grant, the longer-range 64kWh option was excluded thanks to its £39,000 starting price.
Now, though, that model’s price has been significantly cut to £34,995, meaning it just sneaks under the limit in Premium grade. The top-spec Premium SE model remains excluded, though, with a price of £37,145.
Hyundai’s second EV – the Ioniq Electric – has also had a price cut to £32,995 in Premium grade. However, the top-spec Premium SE previously cost above the £35,000 threshold, but has now had a cut to £34,995 to ensure the full range is eligible for the grant.
Ashley Andrew, managing director or Hyundai Motor UK, said “When it comes to electric vehicles, cost is a big consideration so it was important for us, in light of the changes to the grant, to provide our customers with some additional savings, which we hope will help to maintain demand for zero emission vehicles.
“The Ioniq Electric and Kona Electric are currently among the most popular zero emissions vehicles on sale today, and by maintaining the choice and the value available, Hyundai will remain on track to be one of the largest suppliers of electric vehicles in the country.”