Hyundai is fighting rising EV prices with more ways to save
While many automakers are raising EV prices, Hyundai continues to find ways for you to save. Hyundai is cutting vehicle prices, including on its top-selling SUVs and new electric models like the IONIQ 5 and IONIQ 9.
Hyundai cuts EV and SUV prices in the US
Hyundai promised to maintain vehicle prices in the US, including those of EV models, through its Customer Assurance program.
Launched in April, Hyundai said it would not raise MSRP prices during the protection period. Although the window was scheduled to end on June 2, the Korean automaker has been one of the few to resist price hikes in the US.
It’s actually cutting prices further. Hyundai Motor, including Kia and Genesis, launched an aggressive sales promo, offering 0% interest for 60 months on top-selling SUVs like the Santa Fe and Palisade.
The discounts apply to new Hyundai EV models, including the 2025 IONIQ 5 and the 2026 IONIQ 9, its first three-row electric SUV. Hyundai is also offering buyers the option to defer payments for up to 90 days this summer.
Hyundai has been one of the few carmakers in the US that has maintained or even lowered EV prices. Ford, Toyota, Stellantis, and BMW are some of the few to announce price hikes over the past few months.
The higher prices are in response to the Trump Administration’s 25% tariff on auto imports, which went into effect in April.
According to analysts (via The Korean Economic Daily), Hyundai is pursuing a larger market share, rather than prioritizing profits.
Hyundai is offering up to $3,500 off with discounts across 19 vehicles, while Kia is offering up to $1,000 off select models.
The company introduced its new Hyundai Rewards program on Wednesday, offering even more discounts on new vehicles and features.
On electric vehicles, Hyundai and Kia are offering much more. After slashing lease prices again this month, the 2025 Hyundai IONIQ 5 is now listed at just $179 per month. That’s even cheaper than most gas-powered vehicles.
The 2026 IONIQ 9, Hyundai’s first three-row electric SUV, can be leased for as low as $419 per month. Although the deals were set to end last month, Hyundai extended them until September 2, 2025.
Hyundai is throwing in a free ChargePoint Level 2 home charger with the purchase or lease of a new 2025 IONIQ 5 or 2026 IONIQ 9.
| 2025 Hyundai IONIQ 5 Trim | EV Powertrain | Driving Range (miles) | Starting Price* | Monthly lease price July 2025 |
| IONIQ 5 SE RWD Standard Range | 168-horsepower rear motor | 245 | $42,500 | $179 |
| IONIQ 5 SE RWD | 225-horsepower rear motor | 318 | $46,550 | $199 |
| IONIQ 5 SEL RWD | 225-horsepower rear motor | 318 | $49,500 | $209 |
| IONIQ 5 Limited RWD | 225-horsepower rear motor | 318 | $54,200 | $309 |
| IONIQ 5 SE Dual Motor AWD | 320-horsepower dual motor | 290 | $50,050 | $249 |
| IONIQ 5 SEL Dual Motor AWD | 320-horsepower dual motor | 290 | $53,000 | $259 |
| IONIQ 5 XRT Dual Motor AWD | 320 horsepower dual motor | 259 | $55,400 | $359 |
| IONIQ 5 Limited Dual Motor AWD | 320-horsepower dual motor | 269 | $58,100 | $299 |
Since both vehicles are made at Hyundai’s new EV plant in Georgia, they still qualify for the $7,500 tax credit. However, it’s set to expire at the end of September.
Hyundai and Kia’s market share reached 11% in the first half of the year, up slightly from 10.5% in 2024, but it’s facing more competition, especially in the EV market.
Looking to snag the savings while they’re still available? We can help you get started. You can use our links below to find deals on Hyundai and Kia’s electric vehicles in your area.
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Japanese equipment giant Komatsu has added a not-so-giant electric excavator to its growing lineup of battery-powered construction equipment. The new Komatsu PC20E-6 electric mini excavator promises a full day of work from a single charge.
Komatsu says the design of its latest mini excavator was informed by data sourced from more than 40,000 working days of comparably-sized diesel excavators. The company found that, in 90% of its global customers’ mini excavator deployments, these vehicles are in active use for less than 3.5 hours per day.
“This defined the target for the required, reliable working time with the excavator,” reads the Komatsu web copy. “This result makes it possible for Komatsu to offer an attractively priced machine with a performance that exactly matches the requirements.”
Keeping costs down are relatively conservative specs. Komatsu chose to power the PC20E-6 with a 23.2 kWh battery pack sending electrons to an 11 kW (~15 hp), high-torque electric motors. Not exactly super impressive on paper, but the machine has an operating weight of 2,190 kg and enough juice for up to four (4) hours of continuous operation.
More than enough, in other words, to have completed 90% of of those 40,000 work days the company analyzed.
Getting it done
If, for some reason, that four hours’ runtime isn’t enough, an on-board charging option for 230V and 3kW charging power compatible with various plug adapters is standard, with an external DC quick charger for 400V and 12 kW charging as optional. In either case, it won’t be long before the machine is back at work.
To help the later adopters sleep well about their battery-powered investments, the PC20E-6 ships with Komatsu’s E-Support maintenance program, which includes free scheduled maintenance by a Komatsu-trained technician, a 3 year/2,000 hour warranty on the machine, plus a 5 year/10,000 hour warranty on the electric driveline. The company says the battery should last 10 years.
“The Komatsu E-Support customer program is included free of charge with every market-ready electric mini excavator and offers exclusive machine support,” said Emanuele Viel, Group Manager Utility at Komatsu Europe. “The bottom line is that the risk for the end customer is significantly reduced, especially when it comes to exploring the electrification advances in the industry.”
Komatsu hasn’t released official pricing quite yet, but has revealed that the P20E-6 will begin series production this October.
SOURCE | IMAGES: Komatsu.
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Tesla has unexpectedly terminated a contractor’s contract at Gigafactory Texas, resulting in the layoff of 82 workers who were supporting the automaker’s production at the giant factory in Austin.
MPW Industrial Services Inc., an Ohio-based industrial service provider specializing in cleaning and facility management, has issued a new WARN notice, confirming that it will lay off 82 workers in Texas due to Tesla unexpectedly ending its contract with the company.
Here are the details from the WARN notice:
- State / agency: Texas Workforce Commission (TWC).
- Notice date: August 27, 2025.
- Employees affected: 82
- Likely effective date: September 1, 2025
- Context from the filing/letter: layoffs tied to an unexpected termination of a major customer contract (Tesla—Gigafactory Texas, 1 Tesla Road); positions include 61 technicians, 7 team leads, 7 supervisors, 7 managers; no bumping rights; workers not union-represented.
In April 2024, Tesla initiated waves of layoffs at the plant, resulting in the dismissal of more than 2,000 employees in Austin, Texas.
Since then, Tesla’s sales have been in a steady decline. While the automaker is expected to have a strong quarter in the US in Q3 due to the end of the tax credit, sales are expected to decline further in Q4 and the first half of 2026.
Many industry watchers have expected Tesla to initiate further layoffs due to the situation.
Electrek’s Take
We may be seeing the beginnings of a new wave of layoffs at Tesla, as the automaker typically starts with contractors.
To be fair, Tesla could also potentially end the contract unexpectedly for other reasons, but the timing does align with the need to cut costs and staff ahead of an inevitable downturn in US EV sales.
I think it’s inevitable that we start seeing some layoffs. I think Tesla will have to slow down production in the US to avoid creating an oversupply, especially in Q4-Q1.
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