Hyundai’s Strategy to Overcome EV Phobia: Lower Prices and Increased Benefits

K-Car

by K-Contents 2024. 9. 3. 16:10

Hyundai Motor Company is intensifying its efforts to address the growing concerns surrounding electric vehicles (EVs), particularly in the wake of recent fire incidents that have fueled what is being called "EV phobia." To prevent this fear from stalling the burgeoning EV market, Hyundai is taking significant steps to reassure customers and make EV ownership more accessible and appealing.

Introducing the E-Value + Trim: Affordable and Practical

On September 3, 2024, Hyundai launched a new "E-Value +" trim for its flagship EV models: the IONIQ 5, IONIQ 6, and Kona Electric. This entry-level trim is designed to lower the financial barriers to EV ownership by offering a more affordable price point without compromising on essential features. By simplifying certain specifications, Hyundai has managed to bring the purchase price of these vehicles down to the 30 million KRW range, making them more accessible to a broader audience.

Despite the reduced price, the E-Value + trim models still deliver robust performance, with the IONIQ 5 offering a driving range of 368 kilometers per charge, the IONIQ 6 achieving 367 kilometers, and the Kona Electric providing 300 kilometers. These ranges ensure that even the most budget-conscious buyers can enjoy the fundamental benefits of EVs without sacrificing quality or convenience.

The Comprehensive EVery Care + Program: A New Standard in Customer Support

In addition to introducing the E-Value + trim, Hyundai has rolled out a new comprehensive care program called "EVery Care +," tailored specifically for the IONIQ 5, IONIQ 6, and Kona Electric models. This program aims to enhance the overall EV ownership experience by addressing common concerns and providing extensive support throughout the vehicle's lifecycle.

The EVery Care + program includes several new benefits designed to ease customer anxiety about EV ownership. These include:

EV Safety Inspection Service: Offers free annual safety inspections for up to eight years, covering 15 different safety checks, including the Power Electric (PE) room and general vehicle inspections.
Extended Warranty: Combines Hyundai’s existing "Body Care Service" with an extended warranty, offering up to five years or 100,000 kilometers of coverage, ensuring peace of mind for long-term ownership.
New Car Exchange Support: Extends the period for new car exchange support from one year to two years, providing additional security in the event of a total loss.
Free EV-Specific Tires: Offers two free EV-specific tires upon purchase, enhancing the vehicle’s performance and longevity.

Additionally, Hyundai guarantees that when customers sell their EVs, they will receive 55% of the original purchase price, further reducing the financial risk associated with EV ownership.

Addressing Battery Concerns: The Battery Care Lease Program

Hyundai is also addressing one of the most significant concerns for potential EV buyers: battery life and reliability. On August 27, 2024, Hyundai launched the "Battery Care Lease" program for the Casper Electric model. This innovative leasing option considers the residual value of the battery at the end of its life cycle, significantly reducing the cost of ownership. Customers can lease a Casper Electric for as little as 273,000 KRW per month, making it more affordable than comparable gasoline-powered models.

The Battery Care Lease program also includes a feature that allows customers to monitor their battery’s health in real-time through the Hyundai Capital app, providing them with the assurance that their battery is performing optimally. Hyundai Capital even offers a 300,000 KRW incentive for maintaining good battery health, encouraging safe and efficient use.

Confronting EV Phobia: Hyundai’s Commitment to Safety and Transparency

Hyundai’s efforts to combat EV phobia extend beyond just pricing and benefits. The company is actively working to rebuild consumer trust by emphasizing the safety of their EVs. Following a recent fire incident involving a Mercedes-Benz EV in Incheon, which sparked renewed fears about EV safety, Hyundai has launched a series of initiatives to reassure the public.

These initiatives include the "EV Safety Checkup Campaign," which offers free safety inspections to all Hyundai and Genesis EV owners. Hyundai has also been transparent about the safety features of their EV batteries, releasing detailed information to counteract misinformation and emphasize the advanced technologies they use to ensure battery safety.

Conclusion: Hyundai’s Leadership in the EV Market

Hyundai’s proactive approach to addressing the challenges and concerns surrounding EVs highlights the company’s commitment to leading the transition to electric mobility. By offering more affordable EV options, comprehensive care programs, and transparent safety initiatives, Hyundai is not only making EVs more accessible but also setting new standards for customer care in the automotive industry.

As the global demand for EVs continues to grow, Hyundai’s strategies for overcoming EV phobia and enhancing the EV ownership experience are likely to serve as a model for other automakers. With these initiatives, Hyundai is reinforcing its position as a leader in the EV market, committed to driving the future of sustainable transportation.