Hyundai becomes the latest electric car maker to reduce its prices in the wake of the cut in the PiCG threshold to £35,000.
Makers of electric cars have been queuing up to cut the price of their cars to bring them under the new £35k threshold for the plug-in car grant (PiCG) – well, those that aren’t too far over the threshold – in the process neatly negating criticism of the government’s decision to implement the cut.
Now it’s Hyundai’s turn to ‘Alter the Pricing Strategy‘ of its EVs with cuts to the price of the Kona Electric and the Ioniq Electric.
Hyundai has cut the price of the Ioniq Electric Premium model to £32,995 and the Premium SE model to £34,995 (unsurprisingly perhaps the most popular price point for PiCG price cuts).
With the Kona Electric range Hyundai has managed to cut costs to ensure that even the 64kWh battery can be had at a sub-£35k price, with the 39kWh Kona Electric SE Connect now costing £30,395, the Premium £31,745, the 64kWh Premium £34,995 (there’s that ubiquitous price point again) and only the 64kWh Premium SE model not eligible at £37,145. Which, according to Hyundai, means the Kona Electric 64kWh Premium has the longest range (300 miles) of any EV eligible for the PiCG.
Ashley Andrew, Hyundai UK MD, 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 PICG, to provide our customers with some additional savings, which we hope will help to maintain demand for zero emission vehicles.