The Hyundai Ioniq 5: is it the EV for you?
Individual panel prices
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Installed system prices
The Hyundai Ioniq 5 is a fast-charging crossover SUV with an impressive driving range, winning World Car of The Year for 2022. While it’s not the first electric vehicle that Hyundai motor has to offer, it is an exciting addition to their lineup.
With dealers beginning to stock up on the new 2022 Ioniq 5, it’s time to learn whether or not it’s the right EV for you.
Let’s jump in.
The SEL is $46,250 while the Hyundai Ioniq 5 Limited version with the most bells and whistles, like alloy wheels and augmented reality display, starts at $51,000. These prices are not cheap, but they are more manageable than many other EV options.
As for the mileage range, the SE standard range has an EPA estimated range of 220 miles per charge, but the other three models are estimated to provide 303 miles of range after a full charge. The SE standard range has a 58 kWh battery versus the 77.4 kWh battery that powers the SE, the SEL, and the Limited.
The battery size is a large factor in the cost of an EV. The larger the battery pack, the higher the price tag. Aside from the trim details, the smaller battery is what makes the SE standard range less expensive than the other three options.
Unfortunately, the Ioniq will not qualify for the Federal EV incentive. The newly-passed rules only apply to cars that are assembled within the United States with parts that are mined within the U.S., among many other stipulations.
Hyundai’s vehicles are currently not assembled within the United States, but Hyundai does have plans to build a new manufacturing plant within the U.S. If Hyundai's new plant comes to pass, the Ioniq may be eligible for the tax credit someday.
Since the Ioniq 5 is a newer car, it benefits from newer battery technology that charges faster than older car models. The Ioniq can support 800-volt charging versus older cars that are not built to handle that voltage. This means you can charge your Ioniq 5 at a fast charging station in under 20 minutes.
Always relying on a fast charger is not ideal, though. Unfortunately, it can reduce the health of your car battery because charging the battery too quickly degrades its quality. Having Level 2 charging access in your home, apartment building, or at workplace charging stations is the better option.
With a Level 2 charger, you can expect the Standard SE to charge from 10% to 100% in 5 hours and 50 minutes, while it will take 7 hours and 10 minutes for the other three trim versions. For all models, a rapid charger can get you from 10% to 80% in 18 minutes. This is great for long-distance travel or when you need a quick charge.
The amount of time that a battery lasts before needing to be recharged depends on a few factors, such as how quickly you drive or if you are running the air conditioning, which can drain a battery more quickly than driving at a slower pace.
All in all, the 220 mileage range to 303 mileage range that the Ioniq 5 offers should be able to get you to and from work a few times before you need a charge.
The augmented reality feature can help drivers navigate directions and operate cruise control more easily. Image source: Hyundai
You can choose between the Rear Wheel Drive (RWD) or All Wheel Drive (AWD) version of the car, the choice of which will determine the speed that the all-electric powertrain can provide.
For example, the dual-motor AWD offers more horsepower and torque at 320 HP and 446 lb-ft versus 225 HP and 228 lb-ft torque for the RWD. Essentially, the AWD models offer more speed but that extra benefit will add to the final cost of the car.
The Ioniq 5 has many of the modern features that you would expect from a new car model such as a 12.5-inch touchscreen, highway driving assist, cruise control, and an app that allows you to control features such as turning the car on and off remotely. The Hyundai also has augmented reality features that project the dashboard onto the windshield.
Hyundai is planning to “evolve the way we live” with its Hyundai Home system. Hyundai will sell solar panels, solar batteries, and EV chargers to create an entire home solar system. This will power your house and charge your car with clean energy, all via Hyundai and its third-party partners.
Details are scarce at the moment, but more information should be available in late 2022. You can submit your information to be notified about when these systems will be available to install. But for now, you can get started by buying the Hyundai Ioniq 5.
Typically with EVs, there is a separate warranty for the parts of the car and the EV battery. For the Ioniq 5, the battery has a warranty of 10 years or 100,000 miles, whichever comes first.
Hyundai claims that its battery will not degrade below 70% of its original capacity within the warranty period, but it will be covered if it does. This warranty only applies to vehicles registered within the United States and it is important to note that it does not cover cars that are leased.
As for the car itself, Hyundai offers a 5-year/60,000 new vehicle warranty for parts installed by Hyundai and a 7-year/unlimited miles anti-perforation warranty which covers rust in the body of the car.
Compare this warranty to something like Tesla, which covers 8 years or 150,000 miles for the Model S, which is kind of more of the same but the 10 years might be better if you drive fewer miles.
As more EVs arrive on the market, their distinguishing features are ever more challenging to pinpoint. Hyundai has two fully electric cars, the Kona and the Ioniq, so it might be easiest to start by comparing those two.
The Kona has been around for a few years and starts at a lower cost of $34,000 and offers 258 miles on a full charge. The Ioniq on the other hand has a starting cost of $39,950, with an electric range of 303 miles.
Compared to other popular models like the Tesla Model 3, which starts at $39,890 and has a mileage range of 334, your choice really boils down to the brand. Another popular EV is the Ford Mustang Mach-e, which is a bit pricier at $43,895, but it also has a slightly longer mileage range of 314 miles per full charge.
It is important to note that the Ioniq is an SUV while the Kona and Tesla Model 3 are smaller cars. So, if you are looking for an electric SUV, the cost of the Ioniq is more appealing – especially since Hyundai still qualifies for the federal tax credit, while Tesla does not.
Hyundai is a reliable car company, and since the Ioniq 5 is not the brand's first foray into EVs, the Ioniq 5 is a safe choice. Although, like most EVs in 2022, you can’t exactly buy one the day you want it. Make sure to do your research and contact your local Hyundai dealership to test drive and order one.
If you want a house that can power your electricity, charge your car, and store extra energy for emergencies, consider installing solar panels and buying a backup battery before Hyundai rolls out its Hyundai Home system.
You can’t go wrong with getting an EV. An electric car will save you money on gas and even on routine maintenance - no more oil changes! If you are a fan of Hyundai, the Ioniq 5 might be the choice for you.