Hyundai Announces Evolve+ EV Subscription Program at the Chicago Auto Show
In partnership with Hyundai Capital America, Hyundai Motor America announced its new Evolve+ electric vehicle subscription service at the 2023 Chicago Auto Show. This new service provides flexibility and affordability to consumers who want to drive Hyundai’s latest electric vehicles without committing to a purchase or longer-term lease.
Evolve+ is a month-to-month subscription service that covers 1,000 miles, insurance, maintenance, registration, and roadside assistance at a starting price of $699 per month for a Kona Electric and $899 per month for an IONIQ 5.[i] The subscriber can cancel at any time during each subscription period, and no long-term commitment is required.
Other subscription services require customers to lock into a 3- to a 5-month minimum term. Evolve+ is available at select dealerships in six states, with plans to add more by the year’s end. Consumers can find available dealers within the app.
“With no paperwork, commitment and no long-term loan, Evolve+ is an optimal solution for the ‘EV-curious’ car shopper,” said Olabisi Boyle, vice president of product planning and mobility strategy at Hyundai Motor North America. “We’ve prioritized simplicity and flexibility with the subscription process, allowing customers to place orders and renew on their terms on their own time, all via smartphone. We hope that by offering a subscription-based option, we will increase EV adoption and awareness as customers transition into an EV future.”
There are also so many reasons why customers might need a car for a short term — “snowbirds,” who need a vehicle in their winter home, a college student home for the summer, a worker on remote assignment, among many other consumer situations.
“As we know, living with an EV is an educational process,” said Gary Rome, president of Gary Rome Auto Group: Gary Rome Hyundai and an Evolve+ pilot dealer. “Evolve+ allows our customers to try an electric vehicle and see if it is right for their lifestyle. Evolve+ makes it easy for a consumer to drive an EV more flexibly.”
With this complete “turnkey” package, Evolve+ is priced very competitively compared to a traditional lease or purchase. It’s much less expensive than a daily car rental, by about half. If Evolve+ customers like their experience and want a long-term commitment, the Hyundai dealer can lease or sell them the vehicle.
Differentiated Product Offering Provides Greater Consumer Access to EVs[ii]
2022 IONIQ 5 SE RWD
|$850||$609||$2,479||Variable from $899|
Acquisition / Activation Fee
|$-||$400 (one time)||N/A||$-|
Monthly miles allowed
|Six years||Three years||28 days||28 days|
Hyundai Evolve+ offers consumers a unique digital buying experience, allowing them to select their vehicle and payment terms through a custom app. Then the customer can go to the dealership to pick up the vehicle, which is a no-haggling, stress-free delivery experience.
Hyundai Motor America has built Evolve+ in partnership with its dealers. That’s an important distinction, as it gives Evolve+ customers the benefit of working with a respected local business responsible for the vehicle’s initial condition and maintenance.
How it Works
- Customers download the Evolve+ app to their smartphones from Google Play or the Apple Store.
- Customers start by searching for a vehicle by price and zip code, select a model from inventory and choose a monthly term that can easily be renewed.
- The price is displayed, and there is no need for negotiation.
- Next, they log in to their account or create a new account.
- The customer follows in-app instructions to qualify.
- The customer then pays for the subscription using a credit card.
- The payment via credit card reserves the vehicle.
- A pickup time at the dealership is chosen.
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