Hyundai Ioniq 5 to Cost Little More Than Kona EV

by Oct 5, 2020All News, Hyundai, Slider, South Korea2 comments

Hyundai Motor Company’s first electric vehicle under new sub-brand Ioniq, the Ioniq 5, which is based on HMG’s E-GMP platform for electric vehicles, will be sold between $42,900 (50 million KRW) and $45,400 (53 million KRW) depending on battery capacity.

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Despite based on the development of a completely new dedicated platform, car’s high battery capacity, advanced features and bigger size, the price won’t be far off from “KONA Electric” that is sold at $40,300 (47 million KRW). The Ioniq 5 will be the first family electric vehicle in South Korea to have a range of 500km with single charge and according to ETNews could be purchased from $25,700 (30 million KRW) after South Korean government subsidy. Hyundai plans to erase consumers’ perception that electric vehicles are always more expensive than regular cars.

IONIQ 5 is expected to be launched in South Korea in April next year (while could arrive as early as January to overseas markets) will be sold from $42,900 to $45,400 depending on its battery size, which has a choice between of 58kWh or 72kWh respectively. The long distance-type model comes with a 72kWh battery, which means it has 8kWh more battery capacity than the long distance-type KONA Electric (64kWh, 406km range). Its range is expected to be anywhere between 450 and 500km with single charge. IONIQ 5 will be available in 2WD or 4WD as an option.

It will be also the world’s first electric vehicle to be installed with V2L (Vehicle to Load) feature that allows its users to freely use up to 24 kWh worth of electricity stored in its battery. As a result, will be perfect for car camping and as a replacement for generators used for snack cars and event cars.

Unlike current electric vehicles of Hyundai Motor Group, and for the first time, the Ioniq 5 will have cameras instead of side mirrors and won’t have a gear box allowing easy and free movement between the driver seat and passenger seat. The new platform maximizes its interior space as its front seats can be made completely flat at a 180° angle.

Ioniq 5 will have a class-leading interior space

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The Ioniq 5 will be first South Korean electric vehicle to support 350kW ultra-fast charging and will also receive company’s latest advanced driver assistant system. Will be also the first Hyundai vehicle to go through real-time firmware update on its own and it is also the first electric vehicle in the industry to support contact-free charging service through “Car Pay”.

Hyundai Motor Company sees IONIQ 5 as an electric vehicle with the best cost-to-benefit ratio out of both domestic and foreign electric vehicles as its new electric vehicle provides optimal driving experience, latest safety and convenience features, and huge interior space. According to the specs sheet the IONIQ 5 is also comparable to Volkswagen’s ID.4. The ID.4 comes with 77kWh battery and it is a midsize SUV with a length of 4,580mm and a wheelbase of 2,766mm. Depending on its specifications, its price can be anywhere between $58,500 (49,950 euros) and $70,200 (59,950 euros) based in dollars in Germany.

On the other hand, IONIQ has a longer length (4,635mm) and a wheelbase (3,000mm) and it is cheaper than ID.4. It can be even cheaper considering government subsidies. “Although we cannot disclose the prices of our new electric vehicle that is expected to be launched soon, it will be cheaper than other electric vehicles that are in the same class as IONIQ 5.” said a spokesperson for Hyundai Motor Group. “Performance and prices of Kia Motors’ “Imagine” that is expected to be launched after IONIQ 5 will be similar to that of IONIQ 5.”

Camera-based mirrors to be installed on Ioniq 5

News Source: ET News

Written by Jose Antonio Lopez

Passionated about Korean cars from Hyundai, Kia & Genesis. Photographer. I love being in nature, hiking. Tech lover.

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