A lot of car buyers are curious about electric vehicles (EVs). They don’t know if the EV lifestyle suits them, but they want to learn more about it without committing to a significant purchase. For these consumers, Hyundai may have the answer. It’s called the Evolve+ EV subscription program. Finally, a way for people to find out what it’s like to live with an EV without actually owning one.
Hyundai rolled out its Evolve+ subscription service with would-be EV owners in mind. The new service provides flexibility and affordability to someone who doesn’t know if an EV is right for them. The program allows them to drive Hyundai’s latest electric vehicles without committing to a purchase or lease. Let’s call it an extended test drive at a reasonable price.
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. The subscriber can cancel any time during each subscription period, and it doesn’t require a long-term commitment. A subscription period is 28 days in length. This short-term trial approach eliminates any pressure or commitment anxiety on the part of the consumer and allows them to see if an EV is right for them.
Other subscription services (Care by Volvo, for example) exist in the industry, but they require customers to lock into minimum terms that can be three to six months long. Evolve+ is currently available at select dealerships in seven cities across six states, with plans to expand into new markets by the end of 2023. Consumers can find participating dealers in the Hyundai Evolve+ app—a fully digital retail experience. Ultimately, the idea is to make EV shopping as stress-free and hassle-free as possible.
“With no paperwork, no 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 are hoping that by offering a subscription-based option, we will increase EV adoption and awareness as customers transition into an EV future.”
Hyundai conceived Evolve+ for various reasons and for customers who could benefit from a short-term vehicle loan. Examples include:
“As we know, living with an EV is really an educational process,” said Gary Rome, president of Gary Rome Auto Group: Gary Rome Hyundai and an Evolve+ pilot dealer. “Evolve+ gives our customers the opportunity to try an electric vehicle and see if it is right for their lifestyle. Evolve+ makes it really easy for a consumer to drive an EV in a more flexible way.”
Hyundai priced Evolve+ more attractively than a traditional lease or purchase. And it is significantly less expensive than a daily car rental. If Evolve+ customers have a positive EV experience and opt for a long-term commitment, they can buy or lease the vehicle anytime during their Evolve+ subscription.
Let’s take a 2022 Ioniq 5 SE RWD for a cost comparison. The monthly purchase, lease, and rental costs are $850, $609, and $2,479, respectively. The Evolve+ price is variable from $899 but includes the vehicle, insurance, roadside assistance, and maintenance.
In addition, the lease has a $650 acquisition fee versus a $300 activation fee for Evolve+. The lease also has a one-time $400 disposition fee. Clearly, the most significant advantage of Evolve+ over the rental option is cost savings. The most considerable advantage of Evolve+ over the purchase and lease options is the time commitment—six years and three years versus 28 days.
Hyundai Evolve+ offers consumers a unique digital buying experience, allowing them to select their vehicle and payment terms through a custom app. The customer can then go to the dealership to pick the vehicle up. Here’s the process:
Hyundai’s Evolve+ program provides flexible EV access at one all-inclusive price monthly. Ultimately, it is an innovative solution to attract first-time EV customers and “EV-curious” consumers to the electric vehicle space.
Jessica Shea Choksey is an experienced writer in the automotive field. In addition to JDPower.com, she was a correspondent for PBS’s MotorWeek. Her work has also appeared in AutoTrader.
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