Hyundai Ioniq Electric running costs

The Hyundai Ioniq Electric saves on daily running costs and your annual tax bill – particularly if you're a company-car driver

Insurance group Warranty Service intervals 2019/20 company car cost (20%/40%)
16 5yrs / unlimited miles 1yr / 10,000 miles From £982.24 / £1,964.48

At a whisker under £30,000, the cheapest Hyundai Ioniq Premium trim is still a pricey purchase, albeit the cost is mitigated by the Government’s plug-in car grant, which knocks £3,500 off the list price.

That said, £26,000 is still a lot to pay for a compact family car, and the Ioniq looks even pricier in Premium SE guise. The newer, second-generation Nissan Leaf starts closer to £21,000 after the grant has been applied, as does Hyundai’s own Kona Electric SUV. Both must look appealing to anyone considering putting an Ioniq on the drive.

Other rivals including the Volkswagen e-Golf and BMW i3 cost more again, but Hyundai can’t match the desirability of either of those German badges.

The two trim levels in the Ioniq range don’t have any bearing on the car’s efficiency, as they both run on the same wheels plus have the same power and very similar specifications.

With zero-rated tailpipe emissions the Ioniq Electric benefits from London Congestion Charge exemption, and the low Benefit-in-Kind (BiK) tax rate for company-car drivers is extremely attractive, too.

Hyundai Ioniq Electric insurance group

The Ioniq Premium and Premium SE have insurance group ratings of 16 and 17 respectively. These compare favourably to the Volkswagen e-Golf and BMW i3, which are group 20 and 21. The Nissan Leaf is also in group 21, which is a reflection on its greater performance.

Warranty

The Hyundai Ioniq can’t match the seven-year/100,000-mile warranty of the Kia Soul EV, but it comes close with a five-year/unlimited-mileage warranty deal. Hyundai goes a year further with its excellent battery warranty, however, as this runs for eight years or 125,000 miles.

Servicing

While maintaining your Ioniq won’t break the bank, it’s worth considering that only 27 Hyundai dealerships are currently able to service the Ioniq Electric in the UK.

Road tax

Road tax, or Vehicle Excise Duty, for electric vehicles is currently free, and the Hyundai Ioniq is no exception.