Hyundai Electric Grant slashes Inster starting price by £3,750 to sub-£20k

Hyundai has reduced the price of its award-winning Inster EV by £3,750 via its recently-introduced Electric Grant.

The South Korean manufacturer’s Electric Grant is a response to the UK Government’s newly-announced electric car grant (ECG) of up to £3,750. However, the government is yet to announce which all-electric vehicles will qualify for it as carmakers must supply evidence of how environmentally friendly their battery and manufacturing processes are.

This green caveat has raised concerns particularly amongst South Korean and Chinese carmakers who fear they may not meet the criteria outlined by the government. As such, they have sought to steal a march on things, with the likes of Leapmotor and GWM announcing their own grants of between £1,500 and £3,750 on their all-electric models.

Hyundai has followed suit by announcing a £3,750 price reduction on its all-electric Inster, bringing the starting price down of the 2025 World EV of the Year to £19,755. Further Electric Grant discounts of £1,500 have been applied to the rest of Hyundai’s EV range, meaning the Kona Electric is now priced from £33,500, while the Ioniq 5 costs £38,410.

Further up the range, the Ioniq 6 ‘streamliner’ will cost £45,550 with the £1,500 price cut. Meanwhile, the Ioniq 5 N hyperhatch sees its asking price reduced from £65,010 to £63,510. Moreover, the all-new Ioniq 9 flagship SUV can also be purchased from £63,495 with the addition of the £1,500 discount.

Regarding the Electric Grant and its price cuts, Hyundai and Genesis UK president, Ashley Andrews commented: “As the electric vehicle landscape continues to evolve, it is important that customers have complete clarity, choice and compelling value when making the switch to electric.

“Our diverse EV portfolio means we can offer something for every driving need, from the compact and efficient INSTER to our flagship IONIQ 9 seven seat SUV. By providing immediate financial support through our grant programme, we’re ensuring that more customers can experience the significant long-term savings that come with electric driving.”

In addition to the discounts on the Inster and Kona Electric, buyers can also receive an additional £500 off as part of Hyundai’s Electrifying Summer event, as well 0% finance for three years depending on their dealership and specific offer. The Electrifying Summer deal ends on August 31 this year.