Hyundai Motor’s subscription service expands to Seoul with Ioniq 5

Hyundai Motor Group’s flagship electric vehicle model Ioniq 5 is now available for mobility subscription service from Hyundai Selection in metropolitan areas including Seoul.

The Korean automaker said Sunday that Ioniq 5 will be offered as an option in the monthly program Regular pack. The model was only offered for the daily-subscription plan Special pack subscribers in Jeju and Busan. 

Hyundai Motor said such service expansion will allow more customers to experience Ioniq 5, which has been recognized globally after winning several car of the year awards. 

Hyundai Selection, the company’s first mobility subscription program officially launched in June last year after a 10-month-long beta period, offers all-included payment, limitless driving range and customized service such as options for discount on on-call chauffeur service, parking fee or free in-car music streaming service. 

The monthly vehicle subscription service allows customers to switch to different models without having to care about taxes, insurances, or maintenance, according to the carmaker. 

The service offers three types of plans -- Basic, Standard, and Premium –- which vary by available trim models and additional services, starting from 490,000 won ($396) to 990,000 won per month. 

Hyundai Motor said some 18,000 users have been using Hyundai Selection as of the end of last year. Together with Kia’s Kia Flex and Genesis’ Genesis Spectrum, more than 31,000 subscribers have been using the mobility subscription service. 

Globally, vehicle subscription services have been growing rapidly, breaking norms around private car ownership.

Volvo operates Care by Volvo, Porsche operates Porsche Passport and BMW runs Access by BMW. In Korea, a local startup The Trive launched a vehicle subscription business using secondhand cars last year. Hyundai Capital also operates a used car subscription service called the Deal Car club. 

By Kim Da-sol (ddd@heraldcorp.com)