Hyundai has launched a new EV subscription service in the UK.
The new Mocean subscription service allows customers to rent any of Hyundai’s hybrid, PHEV, or fully electric models from £339 per month.
Subscriptions are available for as little as three months and for as long as 24 months and the sign-up process is designed to be as painless as possible.
During a fully digital process, customers simply choose the car they want and how long they want it for, enter their details and – once approved – a car will be delivered to them within a matter of days. Alternatively, users can choose to pick their car up from a local Hyundai retailer.
Nearly all major motoring costs are included in the service as well. Insurance, breakdown cover, road tax, and maintenance and repairs at Hyundai dealers are all included with the monthly subscription fee.
Users can also opt to change their vehicle every six months to adapt to their lifestyle. Those who wish to cancel their subscription can do so with a one-month notice period.
“We’re excited to launch Mocean here in the UK, giving us the opportunity to bring Hyundai’s range of advanced electrified vehicles to an entirely new type of customer,” says Ashley Andrew, MD of Hyundai Motor UK.
“For those that a traditional PCP or HP agreement simply doesn’t suit, or for those that want the simplicity of one monthly payment and the flexibility of a one-month cancellation period, Mocean delivers. For us, this new innovation marks the beginning of a journey from car manufacturer to mobility service provider, finding new and innovative ways to help enrich our customers’ lives.”
Initially, the service will only be available in Greater London and is set to launch later this month. However, Hyundai is promising that the service will be “quickly rolled out to other major UK cities throughout the year.”
Of course, what you gain in flexibility with Mocean, you lose in price. That £339 minimum price is based on the customer choosing the cheapest i20 model for 24 months, travelling less than 800 miles per month, and being in the cheapest 65+ insurance group. 25-29-year-old drivers, meanwhile, will have to pay an extra £46 per month for insurance alone.