Hyundai's New All-Inclusive EV Subscription Program Includes Two Cars and a Tiny Catch

Let’s presume that you need a new vehicle and don’t want to commit to a single car and a 60-month payment plan. Your choices are limited – find a lease that suits your needs or embark on a costly long-term rental deal. When thinking of cars as just commuting appliances, it’s hard to justify spending a lot of your monthly income on one. But Hyundai might have the solution.

At the 2023 Chicago Auto Show, the manufacturer announced a monthly subscription program for the “EV-Curious” people among us. At launch, it includes the Ioniq 5 and the Kona Electric. There’s no word of the Ioniq 6 becoming a part of this program, even though it would’ve been great to have it included.

Customers will be asked to pay a $300 activation fee first. Afterward, every 28 days, they will have to give Hyundai at least $699 for keeping a Kona Electric for themselves or a minimum of $899 for driving around in an Ioniq 5. These sums include registration, roadside assistance, insurance, and maintenance.

But there’s that tiny catch we told you about earlier – there’s a monthly limit of 1,000 mi (1,609 km). If you go over this limit, then you’ll have to pay $20 for each 100 mi (161 km) added within 28 days. Fortunately, if you drive less than 1,000 mi and renew, the unused miles roll over to the next month. Also, you must be at least 25 years of age with a credit score of 650 or higher. The company further wants you to have three years of driving experience and no driving offense record.

On top of all this, Evolve+ works only in six states and at select dealerships. You can find them by using the dedicated app, which also serves as the digital means of communication between the customer and the company.

The Evolve+ app available on both Android and iOS phones allows you to create an account, look at the available inventory, select the car, choose the preferred monthly term for renewal (might include discounts for long-term deals), and continue with payment and pickup details.

The good news, however, is that customers can cancel whenever they want. The automaker isn't trying to force this deal onto everyone. Besides that, Hyundai plans on expanding this subscription-based offering.

Depending on who you ask or trust, the national average car payment for a new vehicle reached a new high last year at approximately $700. Subscribing to drive an Ioniq 5 or a Kona Electric might make a lot of sense if you can stay under the monthly mileage limit.

Even though it is a bit on the pricy side, having no worries other than charging is arguably great. You can start experiencing the EV world or just enjoy driving around in a newer battery-electric car for which you don’t have to pay insurance, maintenance, or a flatbed for a tow. Of course, keep in mind that conditions may apply to specific scenarios. Make sure you read the fine print before signing!