The Hyundai Ioniq 5: is it the EV for you?

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 Ioniq 5, it’s time to learn whether or not it’s the right EV for you.

Let’s jump in.

What pricing and mileage range can you expect with the Ioniq 5?

There are four trim options available for the Ioniq 5: the SE standard range, the Ioniq 5 SE, SEL, and the Limited. The starting MSRPs for the Ioniq 5 ranges from $41,500 to $52,600 depending on the trim that you choose. The size of the battery, range, and features also vary between the different trim options.

Trim	Starting MSRP	Range	Battery size (kWh)
SE Standard Range	$41,450	220 miles	58 kWh
SE	$45,500	303 miles	77.4 kWh
SEL	$47,450	303 miles	77.4 kWh
Limited	$52,600	303 miles	77.4 kWh

The SE Standard Range trim has the shortest range and the the smallest battery, but it also comes at a lower price. This range may seem short compared to the other trims’ 303 miles, is sure to get most drivers where they’re going, especially as a daily driver.

The SE, SEL, and Limited trims all have the same size battery and the same estimated 303 mile range. The price differences come mainly from the other features like remote parking assist, temperature-controlled seats, and vision roofs.

Does the Ioniq qualify for the federal EV incentive?

The price of an electric vehicle can be a bit startling at first glance, but there are incentives to help ease the burden of cost.

However, the Hyundai Ioniq does not currently qualify for the federal EV incentive, AKA the most significant electric vehicle incentive available right now. Newly passed rules in the Inflation Reduction Act require that an EVs final assembly takes place in North America, which the Ioniq 5 is not.

However, Hyundai does have plans to build a new manufacturing plant within the U.S., so it’s possible that the Ioniq could qualify in the future.

What should you know about charging the Ioniq 5?

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.

What unique features does the Ioniq have?

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.

What is Hyundai Home?

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.

The Hyundai Home system is available in select markets, and the company suggests it will become more widely available in 2023. You can submit your information to be notified about when these systems will be available to install.

How good is the Hyundai warranty?

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.

How does the Ioniq 5 compare to other EVs?

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 $41,450, with an electric range of 220 miles.

Compared to other popular models like the Tesla Model 3, which starts at $43,490 and has a mileage range of 272, your choice really boils down to the brand. Another popular EV is the Ford Mustang Mach-e, which is a bit pricier at $45,995, 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.

Should you buy the Ioniq 5?

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 2023, 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.