Hyundai working on three-month subscription program for Ioniq 5

Following a record number of preorders, it’s safe to say the Ioniq 5 is off to a great start. Hyundai is confident the dedicated electric crossover has what it takes to convince people the time has come to switch to EVs by working on a subscription plan. Automotive News calls it a “try-and-buy program” that will extend over a period of one to three months and will primarily be aimed at first-time EV buyers.

The South Korean marque is currently working on finalizing the subscription program, which will be available in North America. Hyundai believes people who are going to sign up and trial the Ioniq 5 will be interested in owning the zero-emissions crossover beyond those three months after discovering the benefits it brings over a conventionally powered model.

Bundled with the subscription program will be the payments to cover the car’s cost, along with maintenance and insurance. According to Hyundai Motor North America’s vice president of product planning and mobility strategy, Olabisi Boyle, the company expects customers to transition from the subscription plan to an actual purchase after spending time with the Ioniq 5.

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Hyundai will have the Ioniq 5 on sale in several states this fall, ahead of 2022 when it will be available nationwide. It aims to deliver 300 miles of range and fast-charging capabilities with a 350-kW charger needing only 18 minutes to replenish the battery from 10% to 80%. Another major selling point is the spacious interior courtesy of the longest wheelbase offered by Hyundai in North America, stretching at 118.1 inches.

Coming in three trim levels, the Ioniq 5 will do battle with the Volkswagen ID.4 and Ford Mustang Mach-E, but also with its in-house rival – the Kia EV6. Genesis is also on the verge of unveiling its dedicated electric crossover riding on the same E-GMP2 platform as the other two Asian models.

Source: Automotive News

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