The 2025 Hyundai Ioniq 5 has regained its eligibility for the $7,500 federal tax credit score after a short four-month interval with out it. In-built Georgia at Hyundai Motor’s Metaplant, this electrical crossover was beforehand lacking from the EPA’s checklist of eligible automobiles.
Throughout that point, the one solution to entry the federal incentive was by leasing the Ioniq 5. This was as a consequence of a loophole permitting any EV, no matter its origin, to qualify for the tax break when leased.
Just lately, the Ioniq 5 made a comeback on the EPA’s checklist, permitting clients preferring to pay in money to learn from the tax credit score, successfully lowering the automobile’s worth by $7,500 on the time of buy. Nevertheless, consumers should meet earnings standards: lower than $300,000 for married {couples} submitting collectively, lower than $225,000 for heads of households, and fewer than $150,000 for all different filers.
Moreover, the automobile’s MSRP should not exceed $80,000 for crossovers and SUVs, which bodes nicely for the Ioniq 5, as all trim ranges stay beneath that threshold, making them eligible for the federal incentive.
The bottom mannequin of the 2025 Hyundai Ioniq 5 begins at $44,075, which incorporates delivery. It options rear-wheel drive and an EPA-rated vary of 245 miles. The costliest variant, the off-road-inspired Ioniq 5 XRT, begins at $56,975, geared up with all-terrain wheels and a suspension carry, providing an estimated vary of 259 miles. The longest-range choices are the rear-wheel drive SE and SEL trims, which may obtain as much as 318 miles on a full cost.
Making an allowance for the $7,500 federal tax credit score, the efficient worth for the Ioniq 5 ranges from $36,575 to $49,475.
Earlier, Hyundai started U.S. manufacturing of the Ioniq 5 utilizing SK On batteries sourced from Hungary. The automobile briefly appeared on the tax credit score eligibility checklist in early 2025 earlier than being eliminated unexpectedly. In response, Hyundai supplied a $7,500 low cost for financing and anticipated that the EV would regain eligibility within the second quarter with the opening of SK On’s battery manufacturing unit in Georgia.
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