Hyundai Motor Group electric vehicles, including Kia and Genesis models, now qualify for the $7,500 EV tax credit for the first time. The Korean auto giant now has five eligible EVs as it looks to play an even bigger role in the US.
After an impressive run in 2024, Hyundai has no plans to slow down as the US shifts to electric vehicles. The US Department of Energy announced five Hyundai EVs, including Kia and Genesis models, were among the 25 electric cars that qualify for the federal tax credit.
This is the first time since the Inflation Reduction Act (IRA) was passed in 2022 that the Korean automaker is eligible for tax benefits.
Hyundai just began production at its new Metaplant America (HMGMA) in October 2024, a massive new $7.6 billion EV manufacturing plant in Georgia. The company fast-tracked production, putting up the facility in two years to unlock the credit.
The first vehicle that rolled off the assembly line was Hyundai’s upgraded 2025 IONIQ 5 electric SUV. Shortly after, Hyundai launched mass production of its first three-row electric SUV, the IONIQ 9.
Hyundai, Kia, Genesis EVs qualify for the US tax credit
Hyundai’s new IONIQ 5 and IONIQ 9 were among the 25 EV models that qualify for the $7,500 US tax credit. Meanwhile, Kia is building its electric three-row EV9 and new 2025 EV6 at its West Point, GA plant, both of which now qualify for the benefit.
Genesis, Hyundai’s luxury brand, also made the list. The Genesis Electrified GV70 is built at Hyundai’s manufacturing plant in Montgomery, Alabama, which enables it to qualify.
With five EVs now eligible for the federal tax credit, Hyundai expects momentum to pick up in the US. Before, Hyundai and Kia only passed the $7,500 on through EV leases.
Through November, Hyundai and Kia sold over 112,500 EVs in 2024. However, the benefits could soon disappear with Trump’s transition team reportedly looking to “kill off” the EV tax credit.
Until then, Hyundai will enjoy a more level playing field in the US, one of its (if not the) most important sales markets.
To sweeten the deal, Hyundai is offering a free NACS adapter to unlock Tesla Superchargers for those who buy or lease a new EV right now. Current Hyundai owners (model-year 2024 and earlier IONIQ 5, IONIQ 6, Kona Electric, and IONIQ hatchback models) can request their adapter through the MyHyundai owner portal.
Top comment by Gussy23
HMG really appears to be on a positive BEV trajectory. Tesla still utterly dominates in my area (as in being the BEV I see the most of) but I do see EV6's and Ioniq 5s on a weekly basis. This will be a very interesting year.
Hyundai’s new 2025 IONIQ 5, IONIQ 6, and Kona Electric models are eligible for the promotion. The upgraded IONIQ 5 features more range, features, and improved style. It even includes a native Tesla NACS port.
| 2025 Hyundai IONIQ 5 Trim | EV Powertrain | Driving Range (miles) | Starting Price* |
| IONIQ 5 SE RWD Standard Range | 168-horsepower rear motor | 245 | $42,500 |
| IONIQ 5 SE RWD | 225-horsepower rear motor | 318 | $46,550 |
| IONIQ 5 SEL RWD | 225-horsepower rear motor | 318 | $49,500 |
| IONIQ 5 Limited RWD | 225-horsepower rear motor | 318 | $54,200 |
| IONIQ 5 SE Dual Motor AWD | 320-horsepower dual motor | 290 | $50,050 |
| IONIQ 5 SEL Dual Motor AWD | 320-horsepower dual motor | 290 | $53,000 |
| IONIQ 5 XRT Dual Motor AWD | 320 horsepower dual motor | 259 | $55,400 |
| IONIQ 5 Limited Dual Motor AWD | 320-horsepower dual motor | 269 | $58,100 |
The base 2024 IONIQ 5 SE RWD Standard Range model starts at $42,500 with up to 245 miles range. Starting at $46,550, the Long Range model provides up to 318 miles range, up from 303 miles in the outgoing model.
Hyundai is coming off a new US sales record in November after IONIQ 5 sales more than doubled. Will the tax credit boost sales further? The company is expected to release December and 2024 US sales figures soon, so stay tuned for more.
Are you ready to take advantage of the big savings while they are still available? We can help you get started. You can use the links below to find deals on Hyundai, Kia, and Genesis EV models at a dealer near you today.
FTC: We use income earning auto affiliate links. More.
Comments