Hyundai Ioniq 5 Australian pricing and specifications confirmed
- Prices start at $71,900 plus on-road costs
- Larger 72.6kWh battery only until at least late 2022
- Rear-wheel drive (RWD) and AWD models from October 2021 launch
- Cheaper sub-$65K models coming later
The Hyundai Ioniq 5 will sell from $71,900 plus dealer and on-road costs when it goes on sale on October 12 with a first-in-best-dressed online-only pre-order.
And the high-performance dual motor all-wheel drive version of the new five-door crossover SUV will be priced from $75,900 plus costs.
UPDATE: Hyundai Ioniq 5 AWD review
UPDATE: Hyundai Ioniq 5 RWD review
Each can only be purchased online to ensure what Hyundai describes as “a fair allocation of the limited initial supply in response to overwhelming demand”. Hyundai Australia is getting fewer than 400 Ioniq 5s in the first batch.
Those prices make Hyundai’s first ground-up EV – the Kona Electric and regular (non-5) Ioniq both sit on an ICE architecture – the most expensive car in a Hyundai showroom.
It’s also more expensive than Australia’s top-selling EV, the Tesla Model 3 – for now, at least.
Hyundai Australia CEO Jun Heo said the Ioniq 5 – which is a mid-sized SUV that is slightly longer and wider than the Hyundai Tucson – is an important step in the brand’s electrification journey.
“The powerful, long-range, ultra-fast charging IONIQ 5 represents the leading edge in zero-emissions battery-electric vehicles and is certain to delight customers,” he said.
The closest competitors to the Ioniq 5 will be the upcoming Kia EV6 – which is expected to be a similar price – and Mercedes-Benz EQA250 and Volvo XC40 Pure Electric.
Due to limited initial supply Hyundai Australia will begin offering the larger 72.6kWh battery pack and a high trim level for the Ioniq 5 locally. That mimics the strategy from sister brand Kia, which also plans to initially only offer the long range battery version of the EV6.
SPECS COMPARISON: Kia EV6 versus Hyundai Ioniq 5
As batteries are the most expensive part of an EV, that makes it more expensive than the smaller 58kWh battery.
Hyundai will offer the smaller 58kWh battery in Australia later, once supply becomes more readily available, possibly in the latter part of 2022.
Circa-$65K Ioniq 5 coming to tackle Tesla Model 3 SR+
In New Zealand and the UK, the cheapest Ioniq 5 is about the same price as the most expensive Kona Electric. In Australia that Kona Electric Highlander Extended Range is $64,000 plus on-road costs.
That suggests somewhere around $65,000 could be the target for the most affordable rear-drive model with the 58kWh battery.
That puts it right up against the Tesla Model 3 Standard Range Plus, which is about $64,500 drive-away.
Hyundai Australia says it has plans to expand the Ioniq 5 range, including the smaller battery and variants with less standard equipment.
That circa-$65K price point – or lower – a crucial benchmark and one Hyundai is sure to be aiming for given the rebates on offer from NSW and Victoria. Sliding in under $68K currently allows an extra $3000 rebate from each state.
FULL DETAILS: Rebates, discounts and incentives when buying an EV in Australia
It will also bring the Ioniq 5 closer to where the EV sales action is, which is important given the imminent influx of competition.
Polestar is soon to launch in Australia and is almost certain to take advantage of those EV incentives; expect $60K-ish start pricing.
And soon-to-arrive newcomer Cupra also has its eyes on bringing the Born EV to Australia by 2023, possibly with pricing around $50K.
Ioniq 5 to miss many EV rebates
The initial batch of Ioniq 5s will miss many of the generous rebates and incentives currently offered for EVs by various state and territory governments.
However, each will be able to take advantage of the stamp duty discount in NSW, assuming the dealer delivery charge doesn’t take the pre-tax costs above $78,000 (so, for the AWD model dealer delivery would have to be less than $2100).
That means savings of between about $2200 and $3000, depending on the model and options fitted.
High level of equipment for new Hyundai EV
All Ioniq 5s sold in the remainder of 2021 and early in 2022 will have the same high equipment levels.
That means standard leather, 360-degree camera, 20-inch alloy wheels, power front seats, heated front and rear seats, ventilated front seats, heated steering wheel, active cruise control, adjustable ambient lighting, rear side sunshades, door handles that retract into the side of the carand an eight-speaker Bose audio system.
There’s also a sliding centre console incorporating two cupholders that moves forward and back 14cm.
There’s also a 12.3-inch digital instrument cluster that incorporates side camera vision when changing lanes as well as a 12.3-inch central infotainment screen.
Safety includes seven airbags, auto braking in forward and reverse, rear cross traffic alert, safe exist assist and blind spot monitoring and camera.
Hyundai Ioniq 5 2WD pricing and specifications
For now the most affordable Ioniq 5 costs $71,900 plus on-road costs.
For that you get a single electric motor driving the rear wheels.
Peak outputs are 160kW and 350Nm, enough to accelerate it to 100km/h in 7.4 seconds.
Charging can be done at 400V or 800V, taking advantage of the latest ultra rapid chargers; the Ioniq 5 can accept up to 230kW of charging power.
Hyundai claims a 10-80 percent charge can be done in as little as 17 minutes and 16 seconds (nothing like precision, although we’re prepared to bet that’s in ideal conditions).
AC charging can be done at up to 10.5kW, which suggests a full charge time of about 7.5 or 8 hours.
The WLTP claimed range is 451km and the claimed average electric usage is 17.9kWh/100km.
The Ioniq 5 with the larger battery has also been certified to tow up to 1600kg. The towball downweight is listed as 100kg.
Click here to see our complete guide to towing with an EV.
Hyundai Ioniq 5 AWD pricing and specifications
The most expensive Ioniq 5 is the AWD, which gets a second electric motor. The rear motor makes 155kW/350Nm and the front motor 70kW/255Nm.
Combined they produce 225kW and 605Nm, enough to launch the Ioniq 5 AWD to 100km/h in 5.2 seconds.
Because the AWD shares its battery an electrical system with the two-wheel drive model, charging times are identical. That means a 10-80 percent rapid charge in as little as 17 minutes, 16 seconds and an AC home charge as low as 7.5 hours.
The WLTP range is 430km and the claimed average electric usage is 19.0kWh/100km.
As with the single motor version, the dual motor Ioniq 5 with the bigger battery can also tow 1600kg.
Eco focus for Hyundai EV
While many EVs are moving away from leather – Polestar, Volvo, Mini, Tesla and others – Hyundai fits it standard in the Ioniq 5.
But it is “eco processed leather”, which refers to the use of flax seed instead of animal oil in the processing.
It’s the first of various materials chosen for their environmental friendliness.
Hyundai says the carpets, headliner, seats, arm rests use recycled PET plastic bottles as well as plant-based materials and wool. There is also “bio paint with plant extracts”.
Speaking of paint, there will be the choice of six exterior colours, including a matte finish called Gravity Gold that costs another $1000.
Inside, there’s the choice of three colour combinations: black, light/dark grey and light grey/teal.
V2L for Ioniq 5
The Ioniq 5 has an external powerpoint that Hyundai refers to as V2L, or vehicle-to-load. It’s part of the E-GMP architecture that underpins the EV newcomer and will also be underneath the Kia EV6 and Genesis GV60.
It can be used to power everything from camping gear to power tools or even charge another EV.
It provides up to 3.6kW, which is 1.5 times what you get out of a home powerpoint.
So it’s unlikely to power your entire house, but it could certainly keep the lights and TV running provided you have a way to hook everything up to it.
Hyundai Ioniq 5 launch pricing and specifications
Ioniq 5 RWD
Price: $71,900 plus on-road costs
Basics: EV, 5 seats, 5 doors, crossover SUV, RWD
Range: 451km
Battery capacity: 72.6kWh
Battery warranty: 8 years/160,000km, 70% of original capacity guaranteed
Energy consumption: 17.9kWh/100km
Motors: 1 rear 160kW/350Nm
AC charging: 10.5kW, Type 2
DC charging: 230kW, CCS Type 2 combo plug
0-100km/h: 7.4 seconds
Ioniq 5 AWD
Price: $75,900, plus on-road costs
Basics: EV, 5 seats, 5 doors, crossover SUV, RWD
Range: 430km
Battery capacity: 72.6kWh
Battery warranty: 8 years/160,000km, 70% of original capacity guaranteed
Energy consumption: 19.0kWh/100km
Motors: 1 front 70kW/255Nm and 1 rear 155kW/350Nm, total output 225kW/605Nm
AC charging: 10.5kW, Type 2 plug
DC charging: 230kW, Type 2 CCS combo plug
0-100km/h: 5.2 seconds
