Hyundai has introduced that its new IONIQ 5 and IONIQ 9 electrical automobiles (EVs) will now not be eligible for the $7,500 US federal tax credit score. This determination marks a big setback for one of many main EV manufacturers within the US, though there are nonetheless pathways to entry the credit score.
### Hyundai EVs Lose US Federal Tax Credit score in 2025
After attaining report retail gross sales within the US for the fourth consecutive yr, Hyundai had excessive hopes for 2025. CEO Randy Parker expressed optimism, noting, “With thrilling new fashions just like the IONIQ 9 and elevated US manufacturing ramping up at our new Hyundai Motor Group Metaplant America in Georgia, I’m assured this momentum will proceed.”
Earlier this month, Hyundai had introduced that the 2025 IONIQ 5 and the brand new IONIQ 9, each produced within the US, had been eligible for the federal tax credit score. This marked a historic second for the producer, because it was the primary time they certified for the reason that Inflation Discount Act (IRA) was handed in 2022. Originally of January, each fashions had been highlighted amongst 25 EVs that certified for the credit score.
Nonetheless, a current replace from the Division of Power (DOE) revealed that Hyundai’s EV fashions are now not eligible. At the moment, solely the 2025 Kia EV6 and 2026 Kia EV9—a part of the Hyundai Motor Group—retain their qualification for the tax credit score. Hyundai’s luxurious division, Genesis, has additionally misplaced its eligibility.
Hyundai’s new $7.6 billion EV plant in Georgia started manufacturing in October, the place the 2025 IONIQ 5 was the primary automobile to come back off the meeting line, adopted by the IONIQ 9.
Regardless of dropping eligibility for the tax credit score, Hyundai remains to be facilitating leasing choices that move on the $7,500 credit score. Lease funds for the 2025 IONIQ 5 begin at an reasonably priced $199 monthly, making it a aggressive various to conventional automobiles just like the Toyota RAV4.
With an upgraded 84 kWh battery, the 2025 IONIQ 5 boasts an elevated driving vary of as much as 328 miles, exceeding the earlier mannequin’s 303 miles with a smaller 77.4 kWh battery. It options aesthetic enhancements and now features a North American Charging Commonplace (NACS) port for charging at Tesla Superchargers.
In 2024, the IONIQ 5 was the fourth-best-selling electrical automobile within the US. The added vary, design upgrades, and inclusion of the NACS port are more likely to improve its attraction additional.
Hyundai not too long ago launched a promotional provide that gives consumers or leasers of the 2025 IONIQ 5 with a complimentary ChargePoint Stage 2 EV charger or a $400 charging credit score.
For these inquisitive about exploring Hyundai’s electrical automobiles, hyperlinks are supplied to help find offers on Hyundai, Kia, and Genesis EVs at native dealerships.
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