The long-awaited 2022 Hyundai Ioniq 5 has been officially launched and priced for the Australian market. Sales of the EV are starting this month Down Under and it will initially be offered in just one well-equipped trim level with two available powertrains. Sitting at the base of the range is the 2WD variant that features a single electric motor at the rear producing 214 hp and 350 Nm of torque. By comparison, the flagship AWD variant features a 207 hp and 350 Nm electric motor at the rear and a 94 hp and 255 Nm motor at the front, for a combined 302 hp and 605 Nm.
Both variants of the Ioniq 5 use the same 72.6 kWh lithium-ion polymer battery pack underpinned by an advanced 800-volt architecture. This means the EV can be charged from 10 to 80 per cent in just over 17 minutes through a 350 kW charger or 56 minutes for the 2WD and 61 minutes for the AWD variant through a 50 kW charger. The 2WD has a quoted range of 451 km while the AWD can travel 430 km on a single charge. Obviously, the AWD is the quicker of the two, as it is capable of hitting 100 km/h in 5.2 seconds, while the 2WD can hit that same mark in 7.4 seconds. In terms of pricing, the Ioniq 5 2WD is available from AU$ 71,900 (US$ 52,295) before on-road costs while the Ioniq 5 AWD starts at AU$ 75,900 (US$ 55,204). Hyundai Australia has confirmed that other trim levels will be introduced at a later date.
An initial allocation of 400 units has been secured for the local market. The car is being sold directly to customers through the Hyundai website and shoppers can secure an Ioniq 5 with a AU$ 2,000 (US$ 1,454) deposit. Once the initial allocation of 400 vehicles is exhausted, expressions of interest will be taken for future allocations. Pricing for the Hyundai Ioniq 5 is competitive when compared to the Tesla Model 3 that starts at AU$ 59,900 (US$ 43,567) before on-road costs in entry-level Standard Range Plus guise. Of course, the Ioniq 5 isn’t a direct rival to the Model 3, as it is significantly larger and offers much more interior space. Instead, it could be best considered as a middle-ground between the Tesla Model Y and Tesla Model X, although the latter is considerably more expensive at roughly AU$ 200,000 (US$ 145,000) in Australia.
