Hyundai cuts Kona Electric and IONIQ 5 pricing by $8000

Hyundai Australia has announced changes to the Kona Electric small and IONIQ 5 medium electric SUV ranges, which has seen their pricing reduced by up to $8000. Now priced from $46,000 plus on-road costs for the Kona Electric and $68,200 +ORC for the IONIQ 5, both electric Hyundai models are now better value for money than before, with the Kona Electric is now priced comfortably under $50,000.

Hyundai has also revised the Kona Electric line-up by adding a new mid-spec Elite, which the brand recently did for petrol and hybrid Kona models as well. Over the entry-level Kona Electric, the Elite adds 19-inch alloy wheels, leather upholstery, electric front seat adjustment, heated front seats, solar front glass, rear privacy glass and an auto-dimming rear mirror.

Hyundai has also removed mid-spec Kona Electric N Line models, with just the Premium N Line remaining.

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To achieve the price cuts, Hyundai has removed some features from some grades, including a heat pump, auto-dimming rear mirror, AC-to-wall socket charging cable and vehicle-to-load (V2L) capability from the base Kona Electric, and V2L capability and wall charger from the base Ioniq 5 and Ioniq 5 N.

However, the IONIQ 5 Premium N Line variant now receives leather sport seats with N Logos, replacing the previous suede seats.

2026 Hyundai Kona Electric and IONIQ 5 pricing (excluding on-road costs):

The updated Hyundai Kona Electric and IONIQ 5 ranges will land in local Hyundai showrooms soon.