Hyundai's new Casper Electric trim starts under $8K with subsidies


Hyundai's cheapest EV is now more affordable in Korea. Casper Electric has got a new Premium trim starting at $20,000 (27.4 million won). With the subsidy, Hyundai expects the new model to be available for as little as $7,300 (ten million won).

After opening pre-orders for the compact electric SUV in July, starting at just $23,000 (31.5 million won), Hyundai's Casper Electric has already taken the domestic market by storm.

In accordance with Yonhap NewsCasper Electric received 8,000 orders in its first two weeks. In its first full month of sales, the mini electric SUV was Hyundai's best-selling EV in Korea.

Casper Electric accounted for 1,439 of Hyundai's total of 3,676 EVs sold in August. The IONIQ 5 (1,222), IONIQ 6 (405), and Kona Electric followed behind for the company's best EV sales month so far in 2024.

In September, Casper Electric became the best-selling EV in Korea, with 2,075 models sold. Hyundai said the electric SUV is attracting buyers because of its “great driving range” and low price.

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Hyundai Casper Electric (Source: Hyundai)

Hyundai's all-electric Casper is bigger than the gas-powered model and cheaper to drive with government subsidies.

While previously, it could be purchased for as little as $14,500 (20 million won) with government subsidies, Hyundai's electric Casper has become more affordable with the new Premium trim.

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Hyundai Casper Electric (Source: Hyundai)

Hyundai's Casper Electric has received a new lower-priced trim

After unveiling the new gas-powered Casper in Korea on Thursday, Hyundai introduced a new Premium trim for the electric model.

The Casper Electric Premium is Hyundai's new base model, starting at just $20,000 (27.4 million won) after tax incentives. With state and local subsidies, Hyundai expects the new model to be available for as little as $7,300 (10 million won).

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Hyundai Casper Electric Premium trim (Source: Hyundai)

Powered by NCM's 42 kWh battery from its joint venture with LG Energy Solution, the new base model is rated for a driving range of up to 173 (278 km) in Korea.

A Hyundai Motor executive said the new Casper Electric will be a “good choice” for consumers. By some standards, the electric SUV is rated for a driving range of up to 196 miles (315 km).

Hyundai's-Casper-Electric-trim
Interior of the Hyundai Casper EV (Source: Hyundai)

In Europe, Casper Electric is known as Inster EV. It is rated for a WLTP driving range of up to 221 miles (355 km) and starts at less than $27,000 (25,000 euros).

Earlier this week, Hyundai unveiled the new Inster EV Cross, a strong twist on the electric city car. Hyundai said the new flagship model is designed for all “go-tos” and has a range of 223 kilometers (360 km).

Hyundai's Inster-EV-Cross
Hyundai Inster EV Cross (Source: Hyundai)

Is it coming to the US?

While Casper Electric (Inster) isn't expected to come to the US, Hyundai's massive new Metaplant America in Georgia is now up and running. The first car to roll off the assembly line was the updated 2025 IONIQ 5, with more width and a NACS charging port to enable Tesla's Supercharger network.

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2025 Hyundai IONIQ 5 charging at Tesla Supercharger (Source: Hyundai)

Later this year, Hyundai will introduce its first three-row electric SUV, the IONIQ 9, which will be built alongside the new IONIQ 5 in GA.

Although locally built EVs will initially qualify for a $3,750 tax credit, Hyundai expects that once the battery segment opens, it will unlock the full $7,500 credit for consumers.

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Hyundai's three-row electric SUV IONIQ 9 (SEVEN Concept) (Source: Hyundai)

Until then, Hyundai is still passing on $7,500 for the lease. It's also offering 0% APR on the 2024 IONIQ 5 for up to 60 months in preparation for the new updated model.

Starting at $41,800, the 2024 IONIQ 5 is still one of the best EV deals in the US. For $45,850, the SE RWD model offers a range of over 300 miles. (See the IONIQ 5 offer in your area).

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