“I would hope it justifies that”: Hyundai explains higher pricing on Elexio versus BYD Sealion 7 and other Chinese rivals
Hyundai Australia is says its new Elexio electric mid-size SUV delivers more ownership value then its cheaper Chinese rivals, even if it costs buyers a bit more to purchase.
The brand says that, while rivals such as the BYD Sealion 7, Geely EX5 and Xpeng G6 are cheaper on paper, the premium on the Elexio is justified by Hyundai’s long-standing dealer network and brand legacy.
According to figures shared with media, weekly lease costs for a top-spec Elexio Elite are estimated at around $205 per week. That compares with roughly $200 for a base BYD Sealion 7. Hyundai argues the marginal difference is a small price to pay for the brand’s nationwide dealership coverage and heritage in Australia.
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The company says its service network and track record in electrification are key parts of a value proposition that goes beyond the sticker price.
“I would hope that the infrastructure of the Hyundai dealer network across Australia would justify that. I would hope that, anywhere across the country, if you’re driving a Hyundai EV, that you know you have the support of a network that has been in the country for 50 years,” says Hyundai COO, Gavin Donaldson.
“We are a legacy brand in Australia. We have been here for 40 years. We’ve been involved in creating EVs for 35 years. I have to believe that the service and the background of your dealer network provides you with a benefit.”
The Elexio launched here with a top-trim Elite listing at just under $62,000, and Hyundai has since confirmed a more affordable entry-level version will arrive in coming months. That model will edge closer in price to the Sealion 7’s lineup.
Both the Elexio and its sibling the Kia EV5 are sourced from factories in China.
