2025 Hyundai Kona Electric Preferred w/Ultimate Package
Price: $51,152 CAD
Colour: Mirage Green w/Black Roof
EV’s are expensive. They have been a heavily subsidized car option that has not served to make them more affordable but only served to jack up the prices as manufacturers and dealers find ways to claim those rebates for themselves. Reality however has a way of rearing its ugly head and it’s doing so now in the EV space. EV prices are falling, and falling fast. There are many reasons for this, not the least of which is the termination of government rebates designed to encourage people to buy an electric car. When you stop heavily subsidizing a product and the real demand for that product is lower than expected, prices will fall. Such is the case with EV’s. Here in Canada, there are no more EV rebates. None. Not a one. It’s no surprise then that we’re starting to see 5-figure discounts on brand new EV’s with $70k stickers sitting on dealer lots. The one company not cutting its wrists to shift their EV’s is Hyundai. One reason for this is they have remained focused on selling their EV’s for as competitive prices as possible. The Kona EV, well equipped can be had for right around $50,000 CAD. I know, that’s not cheap. Compare it to the gas powered equivalent and you’ll come in around $43,000 CAD. Factor in savings on fuel and maintenance over a 5-6 year period and it’s a wash. This means EV’s effectively cost the same as their ICE equivalents in the real market where no rebates are souring the numbers.
Hyundai makes some of the best EV’s you can buy. You get all the great contemporary design they’ve become known for over the last decade plus a progressive EV drivetrain that works well. Their EV’s are also interesting and nice to drive. They don’t over produce their EV’s so they haven’t had to slash pricing as much as other carmakers. As EV pricing continues to balance out cars like the Kona are going to be really strong options. They’re still (mostly) affordable and you get a great car in return. It drives and looks exactly like all the cars we’ve been buying from Hyundai for years. It’s instantly relatable and easy to use. It also feels well built. It’s full of good-looking, high-quality materials. I like being in this car and that makes it special.
I don’t know what the future looks like for the BEV space as things continue to evolve. Falling prices and a normalization of the market is a good thing and allows us to compare apples to apples when making our buying decisions. Vehicles like the Hyundai Kona EV are going to be well positioned to take advantage of this market evolution while offering proper value in a market that has long been messy and confusing.
