Hyundai sets sales price of Kona Electric for U.S. market

Hyundai Motor Company

NEW YORK, -- Hyundai Motor Company has announced starting price of all-electric compact utility vehicle (CUV) Kona Electric on Friday for the U.S. market.

Consumers could pay no more than 30,000 U.S. dollars for the crossover CUV after reduction of around 7,500 U.S. dollars of tax credit, according to a release by Hyundai Motor America on Friday.

As Hyundai's first compact electric crossover for the U.S. market, Kona Electric has as much as 415 km of range for each charge and would be shipped to the U.S. market in the beginning of 2019 from its manufacturing base in Ulsan, South Korea.

Hyundai Motor has received awards from Australia, the United Kingdom and Spain regarding Kona Electric, according to media reports.

The affordability of Kona Electric makes it attractive but production capacity of the electric vehicle is seen limited to around 4,000 each month now.

The United States recorded 1 million EVs running on the road in September in comparison of 260 million of national total vehicles.

Still, sales of EVs in the United States could be dampened as U.S. President Donald Trump is working to roll back incentive measures aimed to stimulates deployment of environmental friendly EVs.

Now, a tax payer in the country could claim as much as 7,500 U.S. dollars of tax credits in buying one EV, according to federal laws enacted in 2010 under the Obama administration.

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