The sub-$30,000 EV market is rapidly shrinking with the departure of the Chevy Bolt EUV. The only remaining option in this price range is the Nissan Leaf, which has remained relatively unchanged since 2018. However, Hyundai is offering a $7,500 discount on the 2024 Kona Electric, making it an affordable option with a starting price of $26,550 after the incentive. This move indicates that more automakers are aiming to make affordable EVs to appeal to a new wave of buyers, despite the challenges of profitability due to the new technology and supply chain requirements.
The Kona Electric SE offers a 133-horsepower powertrain, a 48.6 kWh battery, and a 200-mile EPA range at the incentivized price of $26,550. The SEL and Limited trims feature a larger battery and more power, providing a 261-mile range. The addition of a new body style and battery option for the 2024 model year makes the Kona Electric a more attractive option compared to its previous iterations. Hyundai also improved the DC fast charging speed to 100 kilowatts, allowing for faster charging times.
Leasing incentives from Hyundai make the Kona Electric even more enticing for potential buyers. Leasing options for the Kona Electric start at $169 per month, making it a cost-effective choice for those looking to drive an electric vehicle without the high upfront costs of purchasing. The availability of leasing and purchasing options at different price points allows for flexibility based on individual preferences and needs.
The competition in the affordable EV market is heating up as more automakers aim to offer electric vehicles under $30,000. The Kona Electric’s pricing and features make it a strong contender in this segment, especially with the current discount from Hyundai. While the Kona Electric may not be a top-tier electric car, its combination of price, features, and range make it a compelling option for budget-conscious buyers.
Overall, the 2024 Hyundai Kona Electric presents a solid value proposition for those looking to transition to an electric vehicle. The updated battery options, improved charging capabilities, and attractive starting price make it a competitive choice in the affordable EV market. With incentives for both purchasing and leasing, the Kona Electric offers flexibility and affordability for a wider range of consumers. As the race for affordable EVs continues, the Kona Electric stands out as a promising option for those seeking a budget-friendly electric crossover.
