Hyundai continues to make EVs more affordable. After launching a new Battery Care Lease program in Korea, Hyundai says the Casper EV calls gas-powered models in its class.
The Casper Electric is already one of the cheapest Korean cars (gas powered or EV), starting at just $20,000 (27.4 million won).
Launched last week, Hyundai's new Casper Electric Premium can be purchased for less than $8,000 (10 million won) with incentives.
However, Hyundai makes it even more affordable. After launching a new “Battery Leasing Program” in August, Hyundai announced Monday that more than 50% of Casper Electric's leasing customers have taken advantage of the new service.
This system was developed with LG Energy Solution to reduce the limit for drivers to use electricity. Estimating the average lifespan of Casper Electric models to be ten years, Hyundai is covering the remaining amount through “pre-purchases.”
Hyundai said the battery lease program allows “customers to use Casper Electric at a cost-effective price compared to internal combustion vehicles in the same class.”
Hyundai Casper EV gets cheaper with new battery system
With the Hyundai Capital app, drivers can check their car's battery status, driving and charging habits, and more.
If the numbers reach certain goals, drivers can receive up to $225 (300,000 won) when they return their car after the deal is over. A Hyundai Capital executive said the new Casper EV battery system is a way to “reduce the financial burden on consumers,” adding that it plans to add new products in the future.
After introducing the battery system, Hyundai says the Casper EV can be leased for about $200 a month (273,000 won). That's cheaper than the gas-powered (1.0T Inspiration), which costs about $215 (287,000 won) per month.
Hyundai's Casper EV starts at around $20,000 (27.4 million won) in Korea, with a range of up to 195 miles (315 km).
In Europe, it is known as the Hyundai Inster EV and has a WLTP range of up to 221 miles (355 km). Hyundai's small electric SUV starts at around $30,000 (£23,500) overseas.
Unfortunately, Hyundai has no plans to bring a low-cost EV to the US. However, it recently launched a new 13-month “Ultra-Fast” offer on the 2024 IONIQ 5.
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