Hyundai Reduces EV Prices in Australia as It Unveils a New Electric SUV

Hyundai Australia has announced significant price reductions on some of its current electric vehicle (EV) models, alongside plans to introduce a brand-new electric SUV, aiming to strengthen its position in the country’s rapidly growing EV market.

Among the most notable cuts are those on popular models like the Kona Electric and the Ioniq 5, with discounts reaching up to approximately $14,000 on select variants. These price adjustments are designed to make Hyundai’s EVs more accessible to a broader range of buyers by narrowing the price gap between electric and petrol-powered vehicles, which remains a major consideration for many Australian consumers.

The price drops come at a critical time as competition intensifies in the Australian EV segment, with many manufacturers ramping up offerings and launching new models to capture market share. By making its existing EV lineup more affordable, Hyundai aims to accelerate adoption among cost-conscious buyers while continuing to attract those drawn to the brand’s combination of value, technology, and style.

In addition to the price cuts, Hyundai has revealed plans to launch a new mid-sized electric SUV called the Elexio in Australia. The upcoming model is expected to bolster Hyundai’s electric portfolio by filling a key segment gap and offering a fresh option for buyers seeking a family-friendly electric vehicle with a mix of performance, practicality, and modern features.

The announcement reflects Hyundai’s broader global strategy to expand its electric vehicle presence and achieve ambitious sales targets amid a fast-changing automotive landscape. Locally, it signals the company’s commitment to supporting Australia’s transition towards cleaner transport and reducing emissions, in line with government incentives and increasing consumer demand.

Industry analysts view Hyundai’s combined approach of lowering prices on current models while introducing new EVs as a strong move to remain competitive against rivals such as Tesla, Kia, and Volkswagen, all of whom have been aggressively expanding their EV lineups in Australia.

As the EV market continues to evolve, Hyundai’s price reductions and new model launch could prove instrumental in attracting new customers and helping the company maintain its foothold in the country’s shift towards electric mobility.

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Original Article Source: The Driven