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Future of Cars: Subscription Priced Electric Vehicles

Hyundai & Kia are rolling out a pricing model for EVs in South Korea through which cars are purchased (excluding the cost of the battery).

“South Korea’s auto giant Hyundai Motor Group will start selling vehicles without batteries, which account for 30 to 40 percent of the price of an electric vehicle (EV), helping consumers to purchase a new EV for less than half of the current price with subsidies"

The battery will be paid for separately through an ongoing subscription. Roll-out begins with commercial buyers before being introduced to the consumer market.

Since batteries are the most expensive part of an EV, this flexible pricing approach can save drivers 40%+ at the time of purchase, and the ongoing battery subscription will still be less than the cost of operating an internal combustion engine car which requires gas, oil, and more maintenance.

With people used to new purchase solutions, including Buy Now, Pay Later, Rent To Own, and Subscription "everything", we should not be surprised to see subscription-priced electric vehicles gain popularity across the globe.


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