Hyundai is offering EV buyers up to $7,500 cash after missing out on tax credits

• Hyundai is giving customers up to $7,500 in cash bonuses if they buy an EV before January 31.
• The Korean automaker failed to meet the requirements for the $7,500 tax break for EV buyers.
• Just 13 models qualify for the credit, fuelling fears that high prices could hurt EV demand.

Hyundai is offering cash bonuses to EV buyers as it attempts to compete with the small number of models eligible for a federal tax credit.

The Korean automaker will give customers up to $7,500 if they buy an Ioniq 5, Ioniq 6, or Kona Electric car before Jan 31, per its website.