ICICI Bank now offers a zero downpayment loan on the recently launched Hyundai Kona electric SUV, which is priced at Rs. 25.3 lakhs, ex-showroom Delhi. The bank also offers a 100 % on-road funding through this loan. whose tenure can be extended to 7 years. The loan offer is valid upto the 31st of August, 2019. In other words, buyers opting for the Hyundai Kona Electric will be able to drive home the SUV with a monthly EMI of roughly Rs. 40,000 (on a 84 month loan). Notably, the Union Budget of 2019 has offered an income tax rebate of up to Rs. 2.5 lakhs on electric cars, and this offer is applicable to the Hyundai Kona as well. In the next few weeks, the price of the Hyundai Kona is likely to decrease by up to Rs. 2 lakhs once the various subsidies offered by the Government of India for electric cars takes effect. With the income tax rebate and the subsidy (zero road tax, lower GST and registration fees) offered by the Indian government, the actual cost of the Hyundai Kona could reduce by about Rs. 4-5 lakhs.
The Kona electric SUV is Hyundai India’s first electric vehicle, and the response has been quite encouraging despite the steep price tag. Around 150 people have already booked the Kona SUV across the 11 Indian cities it’s available at, and over 10,000 people have registered for test drives. Hyundai is targeting modest sales of around 25 monthly units for the electric SUV, and from the looks of it, the South Korean automaker may actually have to increase production to meet demand.
The Kona is sold in many developed countries in North America and Europe, where over 12,000 units of the electric SUV have already found happy homes. The electric SUV is assembled at Hyundai India’s Sriperumbudur factory from completely knocked down (CKD) kits. Hyundai is also investing over Rs. 2,000 crores to develop a new electric car for India, which will use local parts and be priced at under Rs. 10 lakhs.
Coming back to the Kona Electric, the SUV is powered by a 39.2 kWh lithium ion battery that powers an electric motor. The electric motor’s outputs are rated at 135 Bhp of peak power and 395 Nm of peak torque. The car’s batteries can be charged in about 6 hours through a regular household power socket while a 50V fast charger will charge the battery to 80 % of its capacity in less than an hour. The Kona can sprint from standstill to 100 Kph in just 9 seconds, making it very quick. The SUV gets a CVT automatic gearbox, which means that the power delivery will be very smooth. The biggest selling point of the Kona is its range of 452 kilometers on a single charge. This makes the electric SUv quite practical for everyday usage.