It’s Official: The EV Price War Is On
Tesla started it. Kia jumped in. Now Hyundai’s coming in hot—with deep discounts, slick new financing deals, and a clear message: they’re not backing down. In South Korea, Hyundai has kicked off its “EV Burden Down” campaign, slashing costs on the IONIQ 5, IONIQ 6, and Kona Electric.
How Much Can You Save? A Lot.
We’re talking up to 6.5 million won (~$4,500) off with a mix of cash incentives, trade-in bonuses, and time-limited promotions. On top of that, Hyundai is dropping its financing rate from 5.4% to just 2.8%—nearly cutting it in half. That makes cars like the IONIQ 5 shockingly affordable.
Want numbers? You can now lease an IONIQ 5 Standard Range for 310,000 won/month (~$214)—around $35 cheaper per month than before. It’s the kind of price that stops EV window-shoppers in their tracks.
Why Hyundai Had to Make a Move
The EV landscape is getting crowded and cutthroat. Tesla slashed Model Y prices by $6,400 in December. Chinese brands like BYD are flooding the market with aggressively priced EVs. Hyundai couldn’t just watch—it had to act.
So, it did. The IONIQ 5, already under Tesla’s starting price in South Korea, now comes with discounts that make it an absolute value play. Combine that with its sharp design and proven performance? Hyundai’s not just playing catch-up—they’re swinging hard.
Europe Gets the IONIQ 3, U.S. Gets Killer Deals
Hyundai’s next trick? A compact EV called the IONIQ 3, expected to launch in Europe for around €29,000 to €33,000 ($35,000–$39,000). Sadly, the U.S. won’t get it—tariffs strike again—but Americans still win big. The 2026 IONIQ 5 now starts at just $35,000, with lease deals from $189/month.
EV buyers, take note: Hyundai just made your decision harder—in the best way.
