What Is the Price of a Hyundai Electric Car in 2024

The price of a Hyundai electric car in 2024 starts at $32,675 for the Kona Electric, offering an affordable entry into eco-friendly driving. Ranging up to $59,400 for the IONIQ 5 Limited AWD, Hyundai delivers diverse options across trims, features, and performance levels. With federal tax credits and state incentives potentially slashing costs, now is a smart time to invest in Hyundai’s cutting-edge EV lineup.

Key Takeaways

• Hyundai electric cars start under $35,000, offering affordable entry into EVs with tax incentives.
• Kona Electric delivers 258-mile range at a competitive price, ideal for daily commutes.
• Ioniq 5 starts around $41,000, blending fast charging, spacious interiors, and premium features.
• Ioniq 6 sedan starts near $45,000, with sleek design and up to 361 miles of range.
• Higher trims exceed $55,000; consider long-term savings on fuel and maintenance costs.
• Federal tax credits up to $7,500 may apply, reducing effective purchase price significantly.
• Lease options often under $300/month, making EVs accessible without large upfront payments.

What Is the Price of a Hyundai Electric Car in 2024?

The automotive world is undergoing a seismic shift, with electric vehicles (EVs) at the forefront of innovation, sustainability, and affordability. Among the major players in this electrifying transition, Hyundai has emerged as a standout contender, offering a diverse lineup of electric vehicles that combine cutting-edge technology, sleek design, and competitive pricing. As we step into 2024, the question on the minds of eco-conscious drivers, tech enthusiasts, and budget-savvy buyers alike is: What is the price of a Hyundai electric car in 2024?

This comprehensive guide dives deep into the pricing landscape of Hyundai’s electric vehicles, exploring everything from entry-level models to high-performance luxury EVs. Whether you’re considering a daily commuter, a family-friendly SUV, or a futuristic hatchback, Hyundai’s 2024 EV lineup offers something for every lifestyle and budget. We’ll break down MSRPs, available trims, federal and state incentives, total cost of ownership, and real-world value—helping you make an informed decision before stepping into a dealership or clicking “buy” online.

Overview of Hyundai’s 2024 Electric Vehicle Lineup

Hyundai has significantly expanded its electric vehicle portfolio in recent years, moving beyond niche models to offer a full range of EVs designed for different market segments. In 2024, the brand’s electric offerings include the Kona Electric, IONIQ 5, IONIQ 6, and the all-new IONIQ 9 (set for late 2024 release). Each model brings unique strengths, from urban agility to long-range capability and luxury appointments.

Kona Electric: The Compact Urban Warrior

The Hyundai Kona Electric is the brand’s most affordable electric vehicle in 2024, ideal for city dwellers and first-time EV buyers. With a refreshed design and improved battery technology, the 2024 Kona Electric offers a compelling blend of efficiency, practicality, and tech. It’s available in two battery configurations: a 48.6 kWh pack (Standard Range) and a 64.8 kWh pack (Long Range), delivering EPA-estimated ranges of 200 and 260 miles, respectively.

Key features include a 10.25-inch digital instrument cluster, Apple CarPlay/Android Auto integration, Hyundai Smart Sense safety suite, and available heat pump for cold-weather efficiency. The Kona Electric is perfect for drivers who prioritize low upfront cost, minimal maintenance, and zero tailpipe emissions.

IONIQ 5: The Award-Winning Crossover

The Hyundai IONIQ 5 continues to dominate the mid-size EV crossover segment, earning accolades for its futuristic design, ultra-fast charging, and spacious interior. Built on Hyundai’s Electric-Global Modular Platform (E-GMP), the IONIQ 5 supports 800-volt architecture, allowing for 10-80% charge in just 18 minutes on a 350 kW DC fast charger.

Available in rear-wheel drive (RWD) and all-wheel drive (AWD) configurations, the IONIQ 5 offers up to 303 miles of range (RWD Long Range) and a 0-60 mph time of 5.0 seconds (AWD Performance). With seating for five and a “Living Space” interior concept, it’s a top choice for families and tech-savvy professionals.

IONIQ 6: The Sleek Electric Sedan

The IONIQ 6 is Hyundai’s elegant, aerodynamic electric sedan that combines luxury, efficiency, and performance. With a drag coefficient of just 0.21, it’s one of the most aerodynamic production cars in the world. The IONIQ 6 offers a range of up to 361 miles (RWD Long Range), making it ideal for long-distance travelers.

Inside, the dual 12.3-inch curved displays, ambient lighting, and eco-friendly materials create a premium experience. The IONIQ 6 is also the first Hyundai to feature over-the-air (OTA) software updates, ensuring your car improves over time. It’s a strong competitor to the Tesla Model 3 and Polestar 2.

IONIQ 9: The Upcoming Three-Row SUV

Set to launch in late 2024, the Hyundai IONIQ 9 is a full-size, three-row electric SUV based on the same E-GMP platform as the IONIQ 5 and 6. With seating for up to seven passengers, a spacious cargo area, and a range expected to exceed 300 miles, the IONIQ 9 targets large families and SUV loyalists.

While official pricing hasn’t been released, early estimates suggest a starting MSRP between $55,000 and $65,000. The IONIQ 9 will feature advanced autonomous driving capabilities, rear-wheel steering, and a luxurious interior with reclining second-row seats and a panoramic sunroof. It’s poised to compete with the Kia EV9 and Rivian R1S.

2024 Hyundai Electric Car Pricing Breakdown by Model

Now that we’ve explored the lineup, let’s get into the specifics: what you can expect to pay for each Hyundai electric car in 2024. Prices vary based on trim level, battery size, drivetrain, and available options. Below is a detailed breakdown of base MSRPs and key trim levels for each model.

Hyundai Kona Electric (2024)

• Kona Electric SE (Standard Range): $33,550
• Kona Electric SEL (Long Range): $37,550
• Kona Electric Limited (Long Range): $41,550

Note: All trims include the $1,350 destination fee. The Limited trim adds heated and ventilated front seats, a power liftgate, and a premium audio system.

Tip: The SE trim offers the best value for budget-conscious buyers, while the Limited is ideal for those seeking comfort and tech upgrades.

Hyundai IONIQ 5 (2024)

• IONIQ 5 SE (RWD, Standard Range): $41,650
• IONIQ 5 SEL (RWD, Long Range): $45,650
• IONIQ 5 Limited (RWD, Long Range): $49,650
• IONIQ 5 SEL AWD (Long Range): $49,650
• IONIQ 5 Limited AWD (Long Range): $53,650

The AWD models add dual motors, boosting power to 320 hp (vs. 225 hp for RWD). The Limited trim includes a head-up display, digital rearview mirror, and a 12-speaker Bose audio system.

Pro Tip: If you live in a snowy or hilly region, the AWD version is worth the extra cost for added traction and safety.

Hyundai IONIQ 6 (2024)

• IONIQ 6 SE (RWD, Standard Range): $42,450
• IONIQ 6 SEL (RWD, Long Range): $46,450
• IONIQ 6 Limited (RWD, Long Range): $50,450
• IONIQ 6 SEL AWD (Long Range): $50,450
• IONIQ 6 Limited AWD (Long Range): $54,450

The AWD models produce 320 hp and feature torque vectoring for improved handling. The Limited trim adds Nappa leather, a panoramic sunroof, and advanced driver aids like Highway Driving Assist 2.

Real-World Example: A buyer in California opting for the IONIQ 6 SEL AWD with a $5,000 down payment and a 60-month loan at 4.9% APR would have a monthly payment of approximately $820 (excluding taxes and fees).

Hyundai IONIQ 9 (2024 – Estimated Pricing)

• IONIQ 9 SE (RWD, 7-seater): $57,000 (est.)
• IONIQ 9 SEL (RWD, 7-seater): $60,000 (est.)
• IONIQ 9 Limited (AWD, 7-seater): $65,000 (est.)
• IONIQ 9 Calligraphy (AWD, 6-seater): $70,000+ (est.)

The Calligraphy trim is expected to offer luxury features like massaging seats, a 27-speaker Bose audio system, and a digital key. Exact pricing will be confirmed closer to launch.

Tip: If you need a three-row EV, consider waiting for the IONIQ 9 or comparing it with the Kia EV9, which starts at $54,900.

Federal, State, and Local Incentives That Lower the Cost

One of the biggest advantages of buying a Hyundai electric car in 2024 is the availability of financial incentives that can significantly reduce your out-of-pocket cost. These incentives come from federal, state, and local governments, as well as utility companies, and can save you thousands of dollars.

Federal Tax Credit: Up to $7,500

Under the Inflation Reduction Act (IRA), the federal EV tax credit offers up to $7,500 for qualifying new electric vehicles. However, eligibility depends on several factors:

• Vehicle must be assembled in North America: All Hyundai EVs (Kona Electric, IONIQ 5, IONIQ 6, IONIQ 9) qualify.
• MSRP cap: $80,000 for vans, SUVs, and trucks; $55,000 for sedans. The IONIQ 6 and Kona Electric fall under the sedan cap, while the IONIQ 5 and IONIQ 9 are classified as SUVs and qualify up to $80,000.
• Battery component and critical mineral requirements: As of 2024, Hyundai EVs meet these criteria, making them fully eligible for the full $7,500 credit.

Important: The credit is non-refundable, meaning it can only reduce your tax liability to zero. If you owe less than $7,500 in taxes, you won’t receive the difference.

State and Local Incentives

Many states offer additional rebates, tax credits, or HOV lane access. Here are a few notable examples:

• California: Clean Vehicle Rebate Project (CVRP) offers up to $2,000 for low- and moderate-income buyers. The state also provides HOV lane access for EVs with a white sticker.
• New York: Drive Clean Rebate offers up to $2,000 for new EV purchases.
• Colorado: Offers a $5,000 tax credit (up to $7,500 for low-income residents).
• Massachusetts: MOR-EV Program provides a $3,500 rebate.

Tip: Use the Database of State Incentives for Renewables & Efficiency (DSIRE) to search for incentives in your area. Many utility companies also offer EV charging rebates or discounted electricity rates for EV owners.

Dealer and Manufacturer Incentives

Hyundai frequently runs promotional financing and cash-back offers. In 2024, these have included:

• 0% APR financing for 60 months on select models
• $1,000–$2,000 bonus cash for loyalty or conquest customers
• Free charging credits (e.g., $600 with Electrify America membership)

Real-World Example: A buyer in California purchasing a $45,000 IONIQ 5 SEL could receive:

• $7,500 federal tax credit
• $2,000 California CVRP rebate
• $1,000 Hyundai loyalty bonus
• Total savings: $10,500, reducing the effective price to $34,500

Total Cost of Ownership: Beyond the Sticker Price

When evaluating the price of a Hyundai electric car, it’s essential to look beyond the MSRP and consider the total cost of ownership (TCO) over 5–10 years. EVs often have higher upfront prices but lower operating and maintenance costs, which can result in significant long-term savings.

Fuel Savings

Electricity is cheaper than gasoline. On average, charging an EV costs $0.03–$0.05 per mile, compared to $0.10–$0.15 per mile for a gasoline car. For a driver who travels 15,000 miles per year:

• Hyundai IONIQ 5 (303 miles range, 30 kWh/100 miles): $1,350/year in electricity
• Comparable gas SUV (25 mpg, $3.50/gallon): $2,100/year in fuel
• Annual savings: $750

Tip: Use a home Level 2 charger to save even more—off-peak electricity rates can cut charging costs by 30–50%.

Maintenance and Repairs

EVs have fewer moving parts than internal combustion engine (ICE) vehicles, resulting in lower maintenance costs. No oil changes, spark plugs, or exhaust systems to worry about. Hyundai EVs also come with a 10-year/100,000-mile powertrain warranty and an 8-year/100,000-mile battery warranty.

According to Consumer Reports, the average 5-year maintenance cost for an EV is $4,600, compared to $9,200 for a gas car—a savings of $4,600.

Insurance and Depreciation

EVs can have higher insurance premiums due to expensive battery repairs, but this gap is narrowing. Hyundai’s strong safety ratings (IIHS Top Safety Pick+) help keep premiums competitive. Depreciation is a mixed bag: while EVs depreciate faster than gas cars, Hyundai’s strong resale value (especially for the IONIQ 5) helps mitigate this.

Example: A $50,000 IONIQ 5 may depreciate to $30,000 after 3 years (~40%), compared to $25,000 for a comparable gas SUV (~50%).

Charging Infrastructure and Convenience

While not a direct cost, access to charging impacts TCO. Hyundai partners with Electrify America, offering 3 years of free 30-minute charging sessions. Home charging installation costs $700–$2,000, but many states offer rebates covering 50–100% of the cost.

Data Table: Hyundai EV Pricing and Key Specs (2024)

Model	Starting MSRP	Range (EPA)	Charging (10-80%)	Warranty	Best For
Kona Electric SE	$33,550	200 miles	47 min (100 kW)	10/100k powertrain 8/100k battery	Budget buyers, city drivers
IONIQ 5 SEL RWD	$45,650	303 miles	18 min (350 kW)	10/100k powertrain 8/100k battery	Families, road trippers
IONIQ 6 SEL RWD	$46,450	361 miles	18 min (350 kW)	10/100k powertrain 8/100k battery	Long-distance commuters
IONIQ 5 Limited AWD	$53,650	266 miles	18 min (350 kW)	10/100k powertrain 8/100k battery	All-weather drivers, performance seekers
IONIQ 9 (Est.)	$57,000	300+ miles (est.)	20 min (350 kW, est.)	10/100k powertrain 8/100k battery	Large families, SUV lovers

Final Thoughts: Is a Hyundai Electric Car Worth the Price in 2024?

The price of a Hyundai electric car in 2024 reflects a strategic balance between innovation, value, and long-term savings. With starting prices ranging from $33,550 for the Kona Electric to an estimated $70,000 for the top-tier IONIQ 9 Calligraphy, Hyundai offers electric mobility for nearly every budget and lifestyle.

What sets Hyundai apart is its commitment to quality, range, charging speed, and incentives. The E-GMP platform ensures fast charging, spacious interiors, and advanced tech across the lineup. When you factor in the $7,500 federal tax credit, state rebates, fuel savings, and low maintenance costs, the total cost of ownership becomes highly competitive—often cheaper than a comparable gas-powered vehicle over five years.

Whether you’re a first-time EV buyer drawn to the Kona Electric’s affordability, a family needing the IONIQ 5’s versatility, or a luxury seeker eyeing the IONIQ 6 or upcoming IONIQ 9, Hyundai has a compelling option. The brand’s strong warranties, growing charging network, and focus on sustainability make it a smart long-term investment.

As the EV market evolves, Hyundai continues to innovate—proving that going electric doesn’t mean sacrificing performance, comfort, or value. In 2024, the answer to “What is the price of a Hyundai electric car?” is not just a number, but a gateway to a cleaner, smarter, and more affordable future of driving.

Frequently Asked Questions

What is the starting price of a Hyundai electric car in 2024?

The starting price of a Hyundai electric car in 2024 ranges from $32,675 for the Kona Electric to $59,295 for the Ioniq 5, depending on trim and features. These prices exclude incentives, which can significantly lower the final cost.

Are there any affordable Hyundai electric car options under $40,000?

Yes, the 2024 Hyundai Kona Electric starts at $32,675, making it one of the most affordable EVs in its class. With federal tax credits, its effective price could drop below $30,000 for eligible buyers.

How does the price of a Hyundai electric car compare to Tesla models?

Hyundai electric cars are generally more budget-friendly than Tesla models, with the Ioniq 5 priced lower than the Tesla Model Y. Hyundai also offers more standard features at similar price points, adding value for cost-conscious buyers.

Does the price of a Hyundai electric car include charging incentives?

While the base price doesn’t include charging incentives, Hyundai often offers perks like free charging credits or home charger installations. Buyers should check current promotions, as these can add significant value to the purchase.

What factors influence the final price of a Hyundai electric car?

The final price depends on trim level, battery size, optional features, and destination fees. State/federal incentives and dealer discounts can also reduce the out-of-pocket cost for buyers.

Is the Hyundai Ioniq 6 price competitive in the electric sedan market?

Yes, the 2024 Hyundai Ioniq 6 starts at $37,500, undercutting rivals like the Tesla Model 3 and Polestar 2. Its long range and premium features make it a compelling option in the mid-range EV sedan segment.