2022 Hyundai Santa Fe Plug-In Hybrid will cost less than Hybrid after EV tax credit

Pricing for the 2022 Hyundai Santa Fe Plug-In Hybrid will start at $40,535 (including destination) for the base SEL Convenience trim level, according to CarsDirect, which pulled the information from a recent order guide.

That base price represents a $5,700 premium over the Santa Fe Hybrid, but the plug-in hybrid version of this SUV could actually cost less than the hybrid once the federal EV tax credit and other incentives are applied.

The Santa Fe Plug-In Hybrid qualifies for $6,587 of the full $7,500 federal tax credit thanks to its 13.8-kwh (12.4-kwh usable) battery pack. That credit makes the plug-in hybrid $887 cheaper than the hybrid. The Santa Fe Plug-In Hybrid may also qualify for other state or local incentives, which could make its price advantage even greater.

2021 Hyundai Santa Fe Calligraphy interior

2021 Hyundai Santa Fe Calligraphy interior

Scheduled to hit dealerships soon—just ahead of the all-electric Ioniq 5—the Santa Fe Plug-In Hybrid has already been EPA-rated at 31 miles of electric range. As a midsize SUV, it’s somewhat larger than the plug-in hybrid SUVs currently available from other mainstream brands.

The 2021 Toyota RAV4 Prime starts at $39,595 and offers an EPA-rated 42 miles of electric range, while the base 2021 Mitsubishi Outlander Plug-In Hybrid SEL starts $37,490 (all prices include destination), with a 24-mile electric range.

2022 Hyundai Santa Fe Plug-In Hybrid

2022 Hyundai Santa Fe Plug-In Hybrid

Plug-in hybrid versions of the related Kia Sorento, as well as the Jeep Grand Cherokee, will arrive soon as well. Both are closer in size to the Santa Fe, while the Jeep will likely bring off-road capability into the mix.

We recently drove the Santa Fe Hybrid and found its excellent drivability—superior to non-Prime Toyota hybrids—to be a very good thing. That bodes well for the Santa Fe Plug-In Hybrid, which uses essentially the same powertrain, but with a larger battery pack and more-powerful electric motor.

Will the Santa Fe PHEV allow enough all-electric driving in real-world use? We’ll have to see when we drive this model, hopefully later in the year.

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