Hyundai released pricing details for its highly anticipated Ioniq 5 in the US market. We’ll get to that in a moment. But first, here’s a bit of news that is unexpected. Beginning in the spring of next year, a standard range version of the car with a 58 kWh battery will be available to US customers. That car has a single rear motor and lists for $39,700. Add in a delivery charge of $1,225, then subtract the $7,500 federal tax credit*, and a person could be driving home in a brand new Ioniq 5 SR for just $33,425. (*If applicable. See your attorney, accountant, and congressional representatives for details.)
Why is that a big deal? Because no one else is offering less expensive electric cars with moderate driving range in America today. Volkswagen offers its ID.4 with a similar battery in Europe and other markets, but the thinking among the VW braintrust is that Americans don’t want an EV with “only” 220 miles of range. Hyundai, on the other hand, thinks there is a market for this car. It will be interesting to see what the sales numbers are later next year. Hyundai could always withdraw the SR in the US if sales do non meet expectations.
Hyundai has been kind enough in its recent press release to include this handy chart of all the various trim levels, prices, and range estimates for the Ioniq 5:
2022 Hyundai IONIQ 5 Pricing
Another important bit of information about the Ioniq 5 is that it is built on Hyundai’s 800 volt E-GMP chassis, which means it can charge from 10% to 89% SOC in 18 minutes when hooked up to a DC fast charger. That’s not quite as fast as filling a gas tank, but it’s getting close. That ability to recharge rapidly makes the Ioniq 5 SR somewhat more appealing, especially for a group of people who haven’t gone electric yet because of concerns about charging times. It is basically a city car that can go on road trips when asked. Lastly, the Ioniq 5 has vehicle to load capability, which means its battery can power things like power tools, a small fridge, or exterior lights when asked.
The Ioniq 5 comes with a full complement of electronic driver aids and the company’s 10 year/100,000 mile powertrain that also covers the battery. The rest of the car carries a 5 year/60,000 mile warranty and 3 years of free maintenance that includes tire rotation and oil changes. No, that is not a typo. That is straight from the Hyundai press release!
All in all, the Hyundai is an attractive package that is fairly affordable after taking the federal tax credit into account. Now EV shoppers have another choice. (Or will soon. See dealer for details.) This is good news for everyone who wants to see the EV revolution move forward in America.
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