Base pricing for the ultra-fast charging Hyundai Ioniq 5 starts just below $33,000 after federal tax credit deductions, making it a value leader in the EV market.
Hyundai will roll out the 2022 Ioniq 5 crossover — the company’s first dedicated EV — at the end of this month. In preparation for the release, the automaker just published pricing and package options for the electric CUV, and it looks extremely competitive.
The Ioniq 5 is the first auto in the Hyundai Motor Group family to use the fully electric, 800-volt global modular platform (E-GMP). That dedicated platform equips the Ioniq 5 with ultra-fast charging capacity and 230 miles of range on average. And it can harness an optional dual-motor, all-wheel-drive setup.
The Ioniq 5 should accelerate from 0 to 60 mph in 5 seconds flat, putting it 0.3 seconds slower than the 2021 Tesla Model Y. It can also achieve a respectable top speed of around 115 mph.
Let’s first get a grasp on the various options, and then we’ll stack the 2022 Ioniq 5 up against other EVs in its class.
2022 Ioniq 5 EV Options
The standard Ioniq 5 will house a 58kWh battery and 168-horsepower rear motor. The combination will provide drivers with 220 miles of range on a full charge.
For an additional $3,950, buyers can upgrade to a 77.4kWh battery. The larger battery boosts output to 225 horsepower and renders 303 miles of range on a full charge.
Buyers can upgrade any trim level to a 320-horsepower dual-motor all-wheel-drive setup. Fitting the Ioniq 5 EV with AWD will reduce its range — Hyundai rates it for around 256 miles per full charge.
As for charging capability, 800-volt, 350kW ultra-fast charging is standard. According to Hyundai, that means 18 minutes of charging will take the CUV’s power levels from 10% to 80%.
To further sweeten the pot, all Ioniq 5 buyers will receive an unlimited run of 30-minute sessions at Electrify America charge stations for 2 years from the date of purchase.
2022 Ioniq 5 vs. the Other E-CUVs
Industry watchers long suspected that Hyundai would price the midsize crossover with other EVs in its class, and that does seem to be the case.
Hyundai will offer the first batch of Ioniq 5s in Special Edition trim. The inaugural model year will see Standard, Select, and Limited trims. Straight off the lot, drivers can expect to pay $39,700 for the base standard model, and around $54,500 for the optioned-out Limited trim.
Eligible buyers will receive a federal tax credit of up to $7,500, with state incentives possible on top of that, depending on where you live. That puts final costs for the impressive Ioniq 5 between $33,000 and $47,000.
Compared to Volkswagen ID.4
Feature-for-feature, the 2022 Volkswagen ID.4 may be the Ioniq 5’s tightest contender. Form factor, chassis, and pricing are reasonably similar.
VW’s ID.4 does come in $2,500 to $3,000 under the Ioniq 5. A comparison of the Ioniq 5’s standard-range AWD model to the ID.4 AWD Pro shows that the ID.4 uses a slightly larger, 82kWh battery.
But the German CUV loses out just slightly in three key areas: EPA range (256 miles for the Ioniq 5 versus 249 for the ID.4), acceleration (5 seconds to 60 mph versus 5.7 seconds), and peak power output (239 kW versus 220 kW).
Compared to Audi Q4 50 e-tron
Only slightly more expensive than the Ioniq 5 SE AWD model is Audi’s 2022 Q4 50 e-tron Quattro. MSRP for the Q4 is close to $2,500 over that of the Ioniq 5, but it’s a difference that we expect a lot of buyers would quickly pay for Audi’s luxury perks.
Like the Volkswagen ID.4, the Q4 50 falls just shy of the Ioniq 5’s range, acceleration, and peak power capability.
The Tesla Model Y certainly boasts a longer range and faster acceleration, but its MSRP is 20% higher for the 2022 Model Y. And, as Tesla vehicles are no longer eligible for the federal tax credit, the final bill for the Model Y could be up to 32% higher than an Ioniq 5. That is a significant cost to most buyers in the segment.
Like the Model Y, the 2022 Volvo XC40 Recharge offers drivers a few performance premiums over the Ioniq 5 SE AWD. However, it costs nearly $10,000 more and falls 30 miles short of the Ioniq 5’s range.
For a great in-depth breakdown of how the Ioniq 5 compares to all the other EVs in its class, check out this InsideEVs.com article.
Hyundai equips every edition of its 2022 Ioniq 5 EV with the following features:
- 19-inch aero wheels
- 12.3-inch touchscreen navigation with EV technology display
- Android Auto and Apple CarPlay
- Bluelink-connected car system with remote charge access
- Highway Drive-Assist 1 and Smart Cruise Control with Stop and Go and Machine Learning
- Forward Collision-Avoidance Assist with Car/Pedestrian/Cyclist Detection
- Blind-spot Collision Avoidance-Assist/Safe Exit Assist
- Lane Keeping Assist and Lane Following Assist
- Rear View Monitor with Parking Guidance
- Rear Cross-Traffic Collision-Avoidance Assist
- Parametric Pixel LED lighting elements
- Auto Flush Door Handles and Hidden Charge Port Door
Also, be sure to check back later this week when we’ll give you a full first-drive review on this new, impressive, and unique electric crossover.