Hyundai UK has slashed EV prices across its lineup, joining other automakers after the UK government unveiled its new EV grant, a scheme fraught with complexities and limitations.
Hyundai has become the latest automaker to react to the government’s complex Electric Car Grant by cutting prices across its entire electric vehicle lineup, including models that clearly won’t qualify for any subsidies.
The brand is offering a self-funded discount of up to £3,750, exclusively for retail buyers. The compact Inster benefits from the full £3,750 reduction, bringing its starting price below £20,000. Other models, including the Kona Electric, Ioniq 5, Ioniq 6, Ioniq 9, and the performance-focused Ioniq 5 N, receive a £1,500 discount. Notably, only the Kona Electric falls within the UK government’s £37,000 price cap for official grant eligibility; yet, Hyundai has extended savings across its entire EV lineup, regardless.
The automaker acted swiftly in response to the uncertainty sparked by the government’s new grant proposal, which has prompted many consumers to delay purchases until eligibility criteria become clearer. The environmental requirements tied to the grant application process have made it particularly challenging for Asian manufacturers to qualify. However, further clarification is expected in the coming days regarding which brands will be included.
“By providing immediate financial support through our grant program, we’re ensuring that more customers can experience the significant long-term savings that come with electric driving,” said Ashley Andrew, president of Hyundai and Genesis UK.
Hyundai has not yet specified how long the price reductions will remain in place. The move follows recent similar actions by Alfa Romeo, Kia, Leapmotor, and MG to boost sales.
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