• Hyundai Kona Electric Hyundai Hyundai IONIQ 5 Hyundai IONIQ 6 Hyundai cuts EV prices in response to BYD and Tesla Hyundaiand Kia slashed EV prices in South Korea, offering discounts on the IONIQ 5, IONIQ 6, EV3, and EV5 to counter recent price cuts from BYD and Tesla. • Hyundai counters EV price cuts with new discounts A day afterKia reduced priceson several electric vehicles by up to 3 million won ($2,000) in South Korea last month, Hyundai followed suit. • After launching its new promotion, Hyundai said it will “significantly lower the interest rate” on its most popular EVs, including the IONIQ 5, IONIQ 6, and Kona Electric. • With monthly promos, early bird specials, and new trade-in deals, Hyundai said buyers can save up to 6 million won ($4,100). • Hyundai cut interest rates onthe IONIQ 5, IONIQ 6, and Kona Electric from 5.4% to just 2.8%. • The new promotion offers buyers a 36-month installment plan with a vehicle return deferral.
Article Summaries:
- Hyundai and Kia have slashed prices on several electric models in South Korea to counter recent cuts by rivals BYD and Tesla. Hyundai announced a new promotion that reduces interest rates on the IONIQ 5, IONIQ 6 and Kona Electric from 5.4 % to 2.8 %, and offers up to 6 million won ($4,100) in savings through monthly promos, early‑bird specials and trade‑in deals. Buyers can defer payments for 36 months and pay a lump sum at the end. Kia’s earlier price cuts of up to 3 million won and 0 % interest plan mirror Hyundai’s move, intensifying the EV price war in the Korean market.
Sources: