Hyundai Ioniq 5: Cheaper models inbound

UPDATE, March 8: Buyers will soon have more affordable versions of the 2022 Hyundai Ioniq 5, with confirmation there will be additional variants offered in the near future.

Information submitted by Hyundai to the Department of Infrastructure shows the Ioniq 5 will gain a ‘standard range’ model, joining the ‘long range’ offered at the vehicle’s launch.

Buyers currently only have access to the 72.6kWh battery pack variant, which either uses a single electric motor sending 160kW/350Nm to the rear wheels to deliver 451 kilometres of claimed driving range, or the optional dual-motor all-wheel drive version which offers up to 430km and produces 225kW/605Nm.

The new ‘standard range’ is expected to arrive with a 58kWh battery, with a single 125kW/350Nm motor or a 173kW/605Nm dual-motor option providing all-wheel drive.

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Hyundai has yet to announce details, but expect 384km of range for the single-motor version, and 362km for the dual-motor.

“We have plans to expand the Ioniq 5 range, and introduce lower trim grade models, later this year,” a spokesperson for Hyundai Australia told Wheels.

“We can’t confirm details at this stage but you can expect similar line-ups to those seen in overseas markets – including the smaller battery version (potentially up to three trim grades).”

It’s thought the local line-up could mirror the variants offered in the UK, with the base model, mid-range version, and a flagship Ioniq 5 on the cards.

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The story to here

October 13, 2021: Hyundai’s Ioniq 5 battery electric car is set to close the price gap to the Tesla Model 3 in 2022 with a new entry-level variant.

The Korean carmaker has launched its first model of a new Ioniq-badged range in “flagship” specification only in Australia, priced from $71,900 in RWD form and starting at $75,900 in AWD guise.

The base model is yet to be officially confirmed, but is expected to be powered by a smaller, 58kWh battery. Launch models share a 73kWh battery.

The trade-off for a lower specification with less performance and shorter driving range will be a price tag somewhere between $60,000 and $65,000.

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This would take the Ioniq 5 closer to the $59,900 starting price of the Model 3 that is the best-selling EV both locally and globally, as well as the Volvo Group’s identically priced Polestar 2 EV arriving in November.

The most affordable Ioniq 5 would be eligible for the best EV incentives currently available in Australia. New South Wales and Victoria are offering a $3000 rebate on pure electric vehicles costing roughly $69,000 or less.

According to Hyundai UK’s specifications, the 58kWh battery Ioniq 5 produces 125kW and 350Nm, accelerates from 0-100km/h in 8.5 seconds, and has a WLTP driving range of 384km.

The Tesla Model 3 Standard Plus Range and Polestar 2 Standard Range are both quicker, while offering longer distances of at least 440km.

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The Ioniq 5's launch variants have a WLTP-cycle driving range of between 430km (AWD) and 451km (RWD) and respective acceleration claims of 5.2 and 7.4 seconds.

Hyundai Australia is also planning to introduce a longer-range Ioniq 5, which would offer a maximum 481km simply by equipping the 73kWh RWD variant with slightly smaller, 19-inch standard wheels.

The company says it will confirm pricing and specifications for an expanded Ioniq 5 line-up in coming months. Up to three trim grades are possible, which could potentially see familiar names such as Elite and Highlander applied to mid-spec and high-spec variants.

The firm's general manager of product, Andrew Tuitahi, said feedback from prospective customers would help the company finalise the future Ioniq 5 line-up.

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“There’s a lot of scope for us to scale down the [Ioniq 5’s] feature level, including battery [size] and [driving] range,” said Tuitahi. “For now, we’ve decided a flagship spec is the best way to introduce the car. As time progresses, we’ll consider different spec and price levels.”

Hyundai Australia opened online orders for the Ioniq 5 yesterday and said within two hours it sold out of the 240 units that can be guaranteed for 2021 delivery. The company has a total production allocation of 400 units for 2021, with December builds arriving in early 2022.

The company says it has received more than 13,000 expressions of interest for the EV and it expects demand to outstrip supply next year.

“We’ll have significantly higher [supply] in 2022 than the 400 we had for this year, but less than we would ideally like,” said Tuitahi.

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It’s an open secret that an N performance version of the Ioniq 5 will eventually appear to assume the ultimate flagship status.

The sporty EV has been regularly spied testing at Germany’s Nürburgring and could produce as much as 450kW.

A GT version of Kia’s related EV6 has outputs of 430kW and 740Nm from its twin electric motors and an anticipated 0-100km/h of 3.5 seconds, though this is still slightly slower than the 3.3-second claim for Tesla’s Model 3 Performance.

Future Hyundai EVs confirmed to share the Ioniq 5’s E-GMP battery-electric platform are the Ioniq 6 sedan and Ioniq 7 large SUV. The sedan is “due in the next 18 months” with the SUV “about two years away”.

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2022 Hyundai Ioniq 5 range (anticipated)

Ioniq 5 'Base'

Ioniq 5 RWD

Ioniq 5 'Long Range'

Ioniq 5 AWD

Ioniq 5 N