Hyundai launches new Casper Electric Premium starting at $20K, under $8K with subsidies

Hyundai’s cheapest EV is now even more affordable in Korea. The Casper Electric gained a new Premium trim starting at $20,000 (27.4 million won). With subsidies, Hyundai expects the new model will be available for as little as $7,300 (10 million won).

After opening pre-orders for the new compact electric SUV in July, starting at just $23,000 (31.5 million won), Hyundai’s Casper Electric is already a hit in its home market.

According to Yonhap News, the Casper Electric secured 8,000 orders in its first two weeks. In its first full sales month, the mini electric SUV was Hyundai’s top-selling EV in Korea.

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

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

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

Although previously, it could be purchased for as little as $14,500 (20 million won) with government subsidies, Hyundai’s Casper electric is now even more affordable with a new Premium trim.

Hyundai’s Casper Electric gains new lower-priced trim

After releasing 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 benefits. With government and local subsidies, Hyundai expects the new model will be available for as little as $7,300 (10 million won).

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

A Hyundai Motor official said the new Casper Electric will be the “optimal choice” for buyers. With other trims, the electric SUV is rated with up to 196 miles (315 km) driving range.

In Europe, the Casper Electric is known as Inster EV. It’s rated with up to 221 miles (355 km) WLTP driving range and starts at under $27,000 (25,000 euros).

Earlier this week, Hyundai launched the new Inster EV Cross, a rugged twist on the electric city car. Hyundai said the bold new model is built for all your “mini-adventures” and has up to 223 miles (360 km) of driving range.

Is it coming to the US?

Although the Casper Electric (Inster) is not expected to arrive in the US, Hyundai’s massive new Metaplant America in Georgia is now up and running. The first vehicle to roll off the assembly line was the updated 2025 IONIQ 5, featuring more range and an NACS charging port to unlock Tesla’s Supercharger network.

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

Although EVs built at the facility will initially qualify for a partial $3,750 tax credit, Hyundai expects once the battery portion opens, it will unlock the full $7,500 credit for buyers.

Until then, Hyundai is still passing the $7,500 on through leasing. It also offers 0% APR on the 2024 IONIQ 5 for up to 60 months as it preps 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 over 300 miles range. (See IONIQ 5 offers in your area).