Hyundai, Kia EVs qualify for the $7,500 tax credit score for the primary time

Hyundai Motor Group electrical autos, together with Kia and Genesis fashions, now qualify for the $7,500 EV tax credit score for the primary time. The Korean auto large now has 5 eligible EVs because it seems to be to play a good larger function within the US.

After a formidable run in 2024, Hyundai has no plans to decelerate because the US shifts to electrical autos. The US Division of Power introduced 5 Hyundai EVs, together with Kia and Genesis fashions, had been among the many 25 electrical vehicles that qualify for the federal tax credit score.

That is the primary time for the reason that Inflation Discount Act (IRA) was handed in 2022 that the Korean automaker is eligible for tax advantages.

Hyundai simply started manufacturing at its new Metaplant America (HMGMA) in October 2024, an enormous new $7.6 billion EV manufacturing plant in Georgia. The corporate fast-tracked manufacturing, placing up the ability in two years to unlock the credit score.

The primary car that rolled off the meeting line was Hyundai’s upgraded 2025 IONIQ 5 electrical SUV. Shortly after, Hyundai launched mass manufacturing of its first three-row electrical SUV, the IONIQ 9.

Hyundai, Kia, Genesis EVs qualify for the US tax credit score

Hyundai’s new IONIQ 5 and IONIQ 9 had been among the many 25 EV fashions that qualify for the $7,500 US tax credit score. In the meantime, Kia is constructing its electrical three-row EV9 and new 2025 EV6 at its West Level, GA plant, each of which now qualify for the profit.

Genesis, Hyundai’s luxurious model, additionally made the record. The Genesis Electrified GV70 is constructed at Hyundai’s manufacturing plant in Montgomery, Alabama, which permits it to qualify.

With 5 EVs now eligible for the federal tax credit score, Hyundai expects momentum to select up within the US. Earlier than, Hyundai and Kia solely handed the $7,500 on by way of EV leases.

Via November, Hyundai and Kia offered over 112,500 EVs in 2024. Nonetheless, the advantages may quickly disappear with Trump’s transition workforce reportedly seeking to “kill off” the EV tax credit score.

Till then, Hyundai will take pleasure in a extra stage taking part in subject within the US, one in every of its (if not the) most vital gross sales markets.

To sweeten the deal, Hyundai is providing a free NACS adapter to unlock Tesla Superchargers for many who purchase or lease a brand new EV proper now. Present Hyundai house owners (model-year 2024 and earlier IONIQ 5, IONIQ 6, Kona Electrical, and IONIQ hatchback fashions) can request their adapter by way of the MyHyundai proprietor portal.

Hyundai’s new 2025 IONIQ 5, IONIQ 6, and Kona Electrical fashions are eligible for the promotion. The upgraded IONIQ 5 options extra vary, options, and improved type. It even features a native Tesla NACS port.

The bottom 2024 IONIQ 5 SE RWD Commonplace Vary mannequin begins at $42,500 with as much as 245 miles vary. Beginning at $46,550, the Lengthy Vary mannequin offers as much as 318 miles vary, up from 303 miles within the outgoing mannequin.

Hyundai is coming off a brand new US gross sales document in November after IONIQ 5 gross sales greater than doubled. Will the tax credit score increase gross sales additional? The corporate is predicted to launch December and 2024 US gross sales figures quickly, so keep tuned for extra.

Are you able to benefit from the massive financial savings whereas they’re nonetheless accessible? We may also help you get began. You should utilize the hyperlinks beneath to search out offers on Hyundai, Kia, and Genesis EV fashions at a seller close to you right now.