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 in 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-for-subscription game, announcing its new Evolve+ EV service. At launch, the service is quite 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 obligations beyond month-to-month payments.

That monthly price is meant to be all-inclusive, 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 to entry for potential EV buyers, 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 up to the 1500-mile mark; after that things get expensive at $1 per mile. Any miles below the limit will be rolled over when you resubscribe to the service.

There’s an app for that

Just like everything else these days, there is an app for the service. Subscribers can go into the app, find a car and pay online. No awkward human interactions required until you pick up and drop off the car at your local dealer. To be eligible for Evolve+, drivers must be at least 25 years old, have at least three years of clean driving and have 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 monthly purchase payments of $850 based on six-year financing for a customer with solid credit. Monthly payments on a three-year lease approach $600, although neither the lease nor purchase prices include insurance and maintenance.