Hyundai makes another big EV price play: Kona and Ioniq 5 $8000 discount, but there’s a bit more to the story than that
Hyundai has permanently lowered the manufacturer list prices of its Kona Electric and Ioniq 5 ranges, locking in the aggressive discounting that has helped drive a resurgence in the Korean brand’s EV sales this year.
The move sees the Kona Electric range now start from $46,000 before on-road costs and the larger Ioniq 5 from $68,200, with Hyundai describing the changes as an $8000 reduction across both model lines.
However, the announcement effectively formalises pricing that many buyers have already been able to access through factory-backed drive-away offers and retail campaigns.
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The revised pricing arrives as Hyundai continues efforts to strengthen its position in Australia’s increasingly competitive EV market, where rivals such as BYD, MG, Geely, Kia and Tesla have intensified pressure.
The move also follows a difficult period for Hyundai’s local EV business, with the company last year acknowledging it needed to do a better job promoting and selling its electric vehicles in Australia.
The biggest change to the Kona Electric line-up is the introduction of a new Elite variant priced from $53,000 before on-road costs, giving Hyundai a three-grade structure that mirrors the broader Kona petrol and hybrid range.
The entry-level Kona Electric Standard Range is priced at $46,000 and uses a 48.6kWh battery paired with a 99kW electric motor. Buyers seeking more range can step into the Extended Range version, which combines a 64.8kWh battery with a 150kW motor and is priced from $50,000.
The new Kona Electric Elite also uses the larger battery pack and offers a claimed driving range of 444km, while adding leather-appointed seats, heated front seats, powered front seats, privacy glass and 19-inch alloy wheels.
Above it sit the Kona Electric Premium at $60,000 and Premium N Line at $63,000.
Hyundai has also revised the Ioniq 5 line-up, with the rear-wheel-drive model now priced from $68,200 before on-road costs and the Elite variant from $73,200. The flagship dual-motor all-wheel-drive Premium N Line is priced from $83,700.
While Hyundai has lowered list prices, the revised model ranges also feature a number of specification changes, with some equipment deleted.
Key specification changes
| Model | Key additions | Key deletions |
| Kona Electric Elite (new) | Leather-appointed seats, heated front seats, powered front seats, 19-inch alloy wheels, privacy glass | N/A |
| Kona Electric range | New Elite grade and lower MLPs | Heat pump removed, V2L interior connection removed, portable emergency charging cable removed, electrochromic mirror removed (base grade) |
| Ioniq 5 range | Lower MLPs | Portable emergency charging cable removed, V2L interior connection removed |
| Ioniq 5 Premium N Line | Leather sport seats with N logos replace previous suede seats | Previous suede seat trim deleted |
The changes suggest Hyundai is not simply reducing prices but repositioning its EV range with a combination of lower list prices, revised specifications and a more conventional grade structure.
The strategy comes as Hyundai prepares to expand its electric vehicle portfolio further in Australia, with the Chinese-developed Elexio electric SUV freshly arrived and the smaller Ioniq 3 hatchback on the way.
The revised Kona Electric and Ioniq 5 ranges are available to order now, with the first vehicles arriving in Hyundai dealerships during June.
Hyundai Kona Electric pricing (MLP)
| Model | Price |
| Kona Electric Standard Range | $46,000 |
| Kona Electric Extended Range | $50,000 |
| Kona Electric Elite | $53,000 |
| Kona Electric Premium | $60,000 |
| Kona Electric Premium N Line | $63,000 |
Hyundai Ioniq 5 pricing (MLP)
| Model | Price |
| Ioniq 5 RWD | $68,200 |
| Ioniq 5 Elite | $73,200 |
| Ioniq 5 Premium N Line AWD | $83,700 |
