Hyundai’s 2022 Santa Fe range in the U.S. will soon grow with the launch of a plug-in hybrid variant. Powering the SUV is a 1.6-liter turbocharged gasoline engine that is supplemented by an electric motor and a 13.8 kWh battery pack. It pumps out a combined 261 hp and 350 Nm of torque and newly uncovered pricing details reveal it will start at US$ 40,535.

Cars Direct notes that this starting price applies to the entry-level SEL Convenience trim level and rises to US$ 46,545 for the flagship Limited trim. That’s quite a hefty increase from the regular Santa Fe Hybrid that starts at US$ 34,835 in SEL Convenience trim and US$ 41,135 in Limited form. The Santa Fe PHEV is rated at 76 MPGe combined and 33 mpg combined. Interestingly, that isn’t quite as good as the regular Santa Fe Hybrid that is rated at 34 mpg combined, although it does make the PHEV more efficient than the regular gas Santa Fe rated at 26 mpg combined.

One key point of appeal that the Santa Fe PHEV has over other variants is the fact that it is available for up to US$ 6,587 of the federal EV tax credit and is also eligible for state credits. As such, this means that for some buyers, the PHEV will actually be more affordable than the standard gas model and much cheaper than the hybrid. For shoppers that don’t want a hybrid or a PHEV, there is a 2.5-liter Smartstream four-cylinder available with 191 hp and 247 Nm of torque, as well as a turbocharged 2.5-liter four-cylinder with 277 hp and 422 Nm.