15:53 23-02-2026

Hyundai Elexio electric crossover price hike and new cheaper variant

Hyundai has confirmed that the price of its 2026 Elexio electric crossover will increase by $6,000 to $9,000 after its introductory offer of $59,990 ends. Starting April 1, the Elite model will cost $61,990 plus fees, making it significantly more expensive depending on the state.

To offset this price hike, the brand is preparing a more affordable version set to launch in the second quarter of 2026. It will retain the 160 kW and 310 Nm electric motor and 88.1 kWh battery from the Elite trim but come with less premium features. The announced price is $58,990, putting it just $90 above the base Tesla Model Y.

Both variants use a 400-volt architecture, come with the full suite of Bluelink online functions and over-the-air updates, and offer a range of 562 km for the base version on 18-inch wheels and 546 km for the Elite on 20-inch wheels. Each supports charging from 10% to 80% in 38 minutes at 150 kW.

The Elite trim features a leather interior, 14-way adjustable seats, ventilation, heating, and Remote Smart Park Assist 3. The color palette includes five shades, some of which come at an extra cost.

This price increase for the Elexio highlights how Australia's electric vehicle market is quickly responding to rising production costs and supply fluctuations from China. At the same time, Hyundai's strategy of launching a cheaper version mirrors Tesla's approach: maintain sales volume with an entry-level price while building profit into higher trims. This allows the Elexio to stay competitive against the Tesla Model Y and Kia EV5 despite the overall price rise.