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Hyundai Ioniq Electric 2020’s new range comes with higher price tag: $33,000

Hyundai gave a decent range boost to the 2020 Ioniq Electric, but the Korean automaker has now announced US prices and it comes with a higher price tag: $33,000.

With an EPA-rated range of 124 miles on only a 28 kWh battery pack, the all-electric version of the Hyundai Ioniq was the most efficient electric car ever rated by the EPA for a long time.

It got dethroned as the king of efficiency by the updated Tesla Model 3 last year.

At the same time, the Korean automaker was out with its own 2020 updated version of the Ioniq Electric, and it is equipped with a much bigger 38.3 kWh battery pack.

It resulted in a slight reduction in efficiency but a big bump in range to 170 miles on a single charge.

At the time, we speculated that it could make the vehicle a very popular choice if Hyundai would manage to keep the same price.

Unfortunately, we’ve now learned that Hyundai had to increase the starting price of the Ioniq Electric by about 10%.

It now starts at $33,045 before incentives according to new MSRPs released by Hyundai today:

2020 IONIQ Electric Pricing
Model Electric Motor Transmission Drivetrain MSRP
SE 100kW (134HP & 218 lb.-ft. of torque) Single-speed Reduction Gear FWD $33,045
Limited 100kW (134HP & 218 lb.-ft. of torque) Single-speed Reduction Gear FWD $38,615

However, Hyundai buyers still have access to the full EV federal tax credit in the US – bringing the price down to $25,500.

In some states with additional incentives, the effective price can come down to just ~$23,000 for a brand new 2020 Hyundai Ioniq Electric.

You can check with your local Hyundai dealer for Ioniq Electric inventory and inquiry about the deal.

Furthermore, Hyundai announced a partnership with Amazon who now handles the entire process from buying a home charger to the installation in just a few clicks:

Here Hyundai lists the different options with the 2020 version of the Ioniq Electric:

2020 IONIQ Electric Highlights

Exterior design enhancements

  • New distinctive pattern on the closed grille of the Electric
  • New front and rear bumper fascias
  • LED head, tail and daytime running lamps
  • New wheel designs
  • New side sill moldings

Interior design enhancements

  • Available 10.25-inch widescreen Navigation system
  • New center LCD information screen
  • New upper and lower instrument panel
  • New console upper cover
  • Dark chrome instrument panel trim
  • Touchscreen heating and cooling controls
  • Ambient lighting
  • Piano key controls

2020 IONIQ Electric SE (Replaces 19MY Electric trim)

  • Smart Cruise Control with Stop & Go added
  • 8-inch Display Audio infotainment systems with Apple CarPlay™ and Android Auto™ added (7-inch Display Audio system for 19MY)
  • Forward Collision Avoidance-Assist w/ Pedestrian Detection added with SmartSense
  • Lane Keeping Assist added
  • Driver Attention Warning added
  • High Beam Assist added

2020 IONIQ Electric Limited enhancements 

  • LED Headlights
  • 10.25-inch Navigation system added (8-inch for 19MY)
  • Harman Kardon premium audio added
  • Ambient interior lighting added
  • Touchscreen heating and cooling controls added
  • Highway Driving Assist added with SmartSense
  • Lane Following Assist added with SmartSense
  • Blind-Spot Collision-Avoidance Assist with Rear Cross-Traffic Collision-Avoidance Assist added with SmartSense

New Colors

  • Stellar Silver
  • Electric Shadow

Electrek’s Take

This is not as good as a price as I expected, but I think it still has a good place in the market as one for the cheapest EV options out there.

I think it can compete with the 40 kWh Nissan Leaf and even more so as Nissan starts losing its full tax credit in the US.

Under $25,000, or even better with a good lease, I think it could be a great option for people looking for a city commuter that doesn’t rely on burning fossil fuels.

What do you think? Let us know in the comment section below.

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