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 big now has 5 eligible EVs because it appears to play a good larger function within the US.

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

That is the primary time because the 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, a large 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 automobile 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 have 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 bought over 112,500 EVs in 2024. Nonetheless, the advantages may quickly disappear with Trump’s transition workforce reportedly trying to “kill off” the EV tax credit score.

Till then, Hyundai will take pleasure in a extra stage taking part in area within the US, one among its (if not the) most essential 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 homeowners (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 model. It even features a native Tesla NACS port.

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

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

Are you able to make the most of the large financial savings whereas they’re nonetheless obtainable? We may help you get began. You need to use the hyperlinks under to search out offers on Hyundai, Kia, and Genesis EV fashions at a supplier close to you in the present day.