Hyundai has significantly repositioned its EV lineup in Australia, cutting prices across the Hyundai Kona Electric and Ioniq 5 ranges by $8,000 and introducing a new Kona Electric Elite variant.
The move makes Hyundai’s small and medium-sized EVs considerably more accessible to Australian buyers while bringing the Kona Electric lineup into closer alignment with the brand’s existing petrol and hybrid Kona range structure.
Hyundai Australia COO Gavin Donaldson added, “With a diverse portfolio spanning light, small, medium and large SUVs, our award-winning EV line-up has never been more appealing, offering even better value and choice to Australian buyers.”
The revised ranges are available to order now, with dealership arrivals commencing from June 2026.
Hyundai Kona EV updated pricing
Hyundai has reduced pricing across the Kona Electric and Ioniq 5 line-ups, with most variants receiving an $8,000 reduction compared with previous pricing. The high-performance Hyundai Ioniq 5 N is excluded, which retains its existing pricing. Hyundai Kona is already a popular car Down Under and sits among the top 5 best-selling models.
| Variant | Pricing (before on-road costs) | EOFY deal pricing (driveaway; until June 2026) |
|---|---|---|
| 2026 Hyundai Kona Standard | $46,000 | $45,990 |
| 2026 Hyundai Kona Extended Range | $50,000 | $50,990 |
| 2026 Hyundai Kona Electric Elite (New) | $53,000 | – |
| 2026 Hyundai Kona Electric Premium | $60,000 | $60,990 |
| 2026 Hyundai Kona Electric Premium + N Line Pack | $63,000 | $64,990 |
Also read: VFACTS May 2026: The numbers behind the record EV month
Hyundai Ioniq 5 EV updated pricing
| Variant | Pricing (before on-road costs) | EOFY deal pricing (driveaway; until June 2026) |
|---|---|---|
| 2026 Hyundai Ioniq 5 RWD | $68,200 | $71,990 |
| 2026 Hyundai Ioniq 5 Elite RWD | $73,200 | $78,990 |
| 2026 Hyundai Ioniq 5 Premium N Line AWD | $83,700 | $87,990 |
| 2026 Hyundai Ioniq 5 N | $115,000 | – |
Kona Electric Elite joins the lineup
The Kona Electric Elite variant sits between the entry-level Kona Electric and the Premium model, mirroring the three-tier structure already used across the petrol and hybrid Kona lineup. The Elite adds several premium features over the base model, including:
- 19″ alloy wheels (replacing the standard 17″)
- Leather-appointed upholstery
- Rear privacy glass
- Electrochromic rear-view mirror
- Heated front seats
- Power-adjustable front seats
The result is a more upscale offering for buyers who want additional comfort and equipment without stepping all the way up to the Premium grade.
Buyers wanting Hyundai’s most comprehensive Kona Electric package will still need to choose the Premium variant.
Some features removed from the base Kona Electric
Hyundai has simplified the specification of the base Kona Electric to achieve the lower entry price. The following features have been removed:
- Electrochromic rear-view mirror
- Heat pump
- Portable emergency charging cable
- Interior Vehicle-to-Load (V2L) outlet
Additionally, buyers can no longer option the N Line Package on the entry-level Kona Electric.
Hyundai Kona Electric powertrain and range
The revised lineup continues with two battery configurations.
Standard Range Kona Electric
- 48.6kWh battery
- 99kW front-mounted electric motor
- WLTP range: 370km
Extended Range Kona Electric
- 64.8kWh battery
- 150kW front-mounted electric motor
- WLTP range: 505km (base extended-range variant)
Other Kona Electric variants using the larger battery offer a WLTP driving range of 444km.
Hyundai Ioniq 5 power and range
All Australian-market Hyundai Ioniq 5 variants now use an 84kWh battery pack.
Rear-wheel drive models
- 168kW electric motor
- WLTP range: up to 570km
Premium N Line AWD
- Dual-motor all-wheel drive
- 239kW combined output
- WLTP range: 495km
Ioniq 5 N
- Dual-motor all-wheel drive
- 448kW
- WLTP range: 448km
Hyundai Ioniq 5 specification changes
Hyundai has also repositioned the Hyundai Ioniq 5 lineup while making its dedicated E-GMP electric SUV substantially more attainable. Unlike the Kona Electric, specification changes are minimal.
Removed features in the entry-level Ioniq 5 include a portable emergency charging cable and an interior Vehicle-to-Load (V2L) outlet.
The Ioniq 5 Premium N Line also receives a trim update. Leather sport seats with N logos now replace the previous suede seat upholstery.
Although pricing remains unchanged for the Hyundai Ioniq 5 N, Hyundai has removed the portable emergency charging cable from the specification list.
Why has Hyundai cut EV prices?
Australia’s EV market is becoming increasingly competitive (see the May sales), with strong pressure from brands such as Tesla, BYD, MG, Geely and GWM.
By reducing prices while making only minor specification sacrifices, Hyundai is positioning both the Kona Electric and Ioniq 5 as stronger value propositions in their respective segments.
The addition of the Elite grade also gives Hyundai a clearer model walk-up structure, allowing buyers to choose between affordability, premium features and flagship equipment levels more easily.
Bottom line
Hyundai has made a bold play in Australia’s EV market, slashing prices across the Kona Electric and Ioniq 5 ranges by up to $8,000 while introducing a new Kona Electric Elite variant.
The entry-level Kona Electric now starts at $46,000, while the Ioniq 5 range opens at $68,200 (before on-road costs). Although a handful of features have been removed to help achieve the lower prices, Hyundai has largely preserved the core equipment, performance and range that have defined both EVs since launch..
For Australian buyers considering the switch to EV, Hyundai’s latest pricing strategy makes two of the country’s most established EVs significantly more attractive than before.
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