Hyundai releases ‘subscription’ program at $275/month for Ioniq Electric, shapes it to be a compliance car

After our Electrek Review of the 2017 Hyundai IONIQ Electric, we were quite impressed with the car – especially with the aggressive $29,500 price before incentive. And now the company is launching a new ‘unlimited subscription’ program for its first all-electric vehicle that could reduce the entry price even more.

The only problem is that Hyundai is shaping up the Ioniq Electric to be a compliance car in the process.

While the Hyundai Ioniq was first supposed to be nationally available, it was reduced to ZEV states. After deliveries were pushed, it now seems that availability has been reduced to California – at least for now.

It might be too soon to call, but the vehicle is shaping up to be a compliance car. Maybe a good one, but a compliance car nonetheless.

It wouldn’t be exactly surprising since company officials previously showed little interest in electric cars and said: “we are making electric plug-ins until hydrogen fuel cell vehicles take hold”.

But starting at $275 per month, the ‘unlimited subscription’ program for the Ioniq Electric is still probably a good deal for a lot of people trying to get into EV ownership.

It’s an all-inclusive deal that lets people lease the electric car with 0 cash down after the California rebate and unlimited mileage. They even reimburse you for the cost of charging:

Charging costs are reimbursed as a credit on your monthly bill, up to 50,000 cumulative miles over the Subscription Plan’s 36-month term. Calculation is based on California’s average cost of electricity per kilowatt-hour to Ultimate Customers by End-Use Sector.

That’s clearly not a bad deal, especially for people with 30+ miles commute, but it’s currently only available in the greater Los Angeles – the only region where the vehicle is now available.

Since the Ioniq is also offered in PHEV and HEV versions, it will be interesting to compare their availability in markets once they are all available in the US later this year and see really how significant is Hyundai’s effort in electrification here.