The South Korean carmaker Hyundai has started an electric vehicle (EV) subscription service allowing users to rent EVs for a month or longer—in a sense, a paid, longer-duration test drive.
Key Details
- Hyundai is starting an EV subscription service called Evolve+, so users can rent an EV monthly and end the subscription anytime.
- On the Evolve+ app, users can reserve a Hyundai Ioniq 5 EV for $899 a month or a Kona Electric for $699. The price includes insurance, maintenance, and 1,000 miles of driving.
- The subscription differs from a typical lease by including insurance and other amenities, but it is also open-ended, allowing users to end the subscription and give the car back at any time.
Why it’s news
EVs are much different than gas-powered vehicles and are typically more expensive, leaving many drivers cautious about switching to electric.
Many drivers want to test an electric car without a commitment before switching completely to electric, and Hyundai’s EV subscription service is giving drivers that option.
Hyundai’s new Evolve+ program is designed for drivers who are curious about EVs but aren’t completely committed to making the switch. The subscription allows them to drive the car without commitment to purchase and the option to quit at any time.
Customers can use the Evolve+ app to reserve a Hyundai Ioniq 5 EV for $899 a month or a Kona Electric for $699. The price includes insurance, maintenance, and 1,000 miles of driving.
The subscription car service isn’t completely new, with many other companies allowing customers to rent cars monthly, but Hyundai’s is unique because it only offers EVs.
The subscription doesn’t include chargers meaning customers will have to locate a charger and charge the vehicle on their own, but a Hyundai spokesman says the company is looking for ways to include chargers with the subscription service.
Hyundai’s Evolve+ is currently available through eight dealership locations in six states.