At the 2023 Chicago Auto Show earlier this month, Hyundai Motor America and Hyundai Capital America unveiled their latest initiative - the Evolve+ electric vehicle subscription service. This program offers a cost-effective and flexible solution for consumers who desire to drive Hyundai's latest electric vehicles but are not ready to commit to a long-term lease or purchase.
The Evolve+ program is a convenient month-to-month electric vehicle subscription service that provides comprehensive coverage including insurance, maintenance, registration, and roadside assistance. Starting at just $699 per month for the Kona Electric and $899 per month for the IONIQ 5, subscribers can enjoy up to 1,000 miles without any long-term commitment, and have the flexibility to cancel their subscription at any time during the subscription period. Unlike other subscription services that require a minimum commitment of 3 to 5 months, the Evolve+ program offers greater flexibility to subscribers. Currently, the service is available at select dealerships in six states, with plans to expand to additional locations by the end of the year. The program's app enables customers to locate dealerships where the service is available.
“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, product planning and mobility strategy, Hyundai Motor North America. “We’ve prioritized simplicity and flexibility with the subscription process, allowing customers to place orders and renew on their own 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.”
There are numerous reasons why customers may require a car for a brief period, such as "snowbirds" who need a car at their winter residence, college students who return home for the summer, or employees on temporary work assignments, among other scenarios.
“As we know, living with an EV is really an educational process,” said Gary Rome, president 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.”
The Evolve+ program is a comprehensive and convenient solution, providing a turnkey package that is priced competitively when compared to traditional leasing or purchasing options. Compared to daily car rentals, Evolve+ is up to 50% less expensive. If subscribers enjoy the experience and want to commit long-term, the Hyundai dealer can offer the option to lease or purchase the vehicle.
*Required Commitment for purchase refers to the average length of vehicle financing
The Hyundai Evolve+ program provides consumers with a distinct digital buying experience, allowing them to use a custom app to select their preferred vehicle and payment terms before picking it up from the dealership. This stress-free, no-haggling process offers a seamless delivery experience for customers.
It's essential to note that Hyundai Motor America has collaborated with its dealers to establish the Evolve+ program. This collaboration offers subscribers the added advantage of working with reputable local businesses that are accountable for the vehicle's initial condition and maintenance.
How it Works
The Hyundai Evolve+ electric vehicle subscription service is an innovative and flexible solution for drivers who want to experience the latest electric vehicles without the commitment of a long-term lease or purchase. The program offers competitive pricing, comprehensive coverage, and a hassle-free, digital buying experience that allows subscribers to select their preferred vehicle and payment terms via a custom app.
The partnership between Hyundai Motor America and its dealers ensures that subscribers work with trusted local businesses that are responsible for the vehicle's initial condition and maintenance. As the program expands to more locations, it will be interesting to see how it impacts the EV subscription market and provides more consumers with a more convenient way to drive an electric vehicle.