Hyundai has announced a new electric vehicle subscription service called Evolve+ at the 2023 Chicago Auto Show. Designed to attract the “EV-curious” audience, Evolve+ offers month-to-month subscription (28-day monthly term) for the Kona Electric and Ioniq 5, at least to start. The Kona Electric starts from $699 per month, while the Ioniq 5 is priced from $899 per month. That fee covers 1,000 miles, insurance, maintenance, registration, and road-side assistance. No long term commitment is required and the subscriber can cancel at any time during each subscription period of 28 days.
Currently available at select dealerships in 7 cities across 6 states, Hyundai plans on rolling out the program to more dealerships by year’s end. If you’re interested to see which dealerships are eligible, you’ll have to check within the Evolve+ app because Hyundai didn’t announce them.
Although the monthly fee might sound a bit high compared to leasing or financing the vehicle, it is actually priced “very competitively” as Hyundai would say. Obviously it’s less expensive than a daily car rental and if Evolve+ customers realize that an EV is right for them, they can work with a Hyundai dealer to lease or buy the vehicle. Availability will be limited by inventory and everything can be done through the app with payment done with a credit card.
To be eligible for Hyundai’s Evolve+ subscription program, you must be 25 years of age or older with at least 3 years of recent driving history and a clean driving record. Your credit score must also be 650 or higher and you’ll need both a valid U.S. driver’s license and credit card in your name. Debit and prepaid cards will not be accepted.
“With no paperwork, no commitment, and no long-term loan, Evolve+ is an optimal solution for the ‘EV-curious’ car shopper,” said Olabisi Boyle, vice president, product planning and mobility strategy, Hyundai Motor North America. “We’ve prioritized simplicity and flexibility with the subscription process, allowing customers to place orders and renew on their own terms on their own time all via smartphone. We are hoping that by offering a subscription-based option, we will increase EV adoption and awareness as customers transition into an EV future.”