2024 Hyundai Ioniq 5 price and specs: Retro electric SUV adds more 'affordable' base model
Key Points
- Ioniq 5 EV now priced from $64,500, available in three trims
- New affordable base model priced $900 lower than Tesla Model Y RWD
- Heat pump and battery conditioning now standard across the range
The Hyundai Ioniq 5 electric crossover has had its lineup refreshed for the 2024 model-year, with the addition of a new more affordable range opener with prices starting from $64,500 before on-road costs. The entry model 2024 'Standard Range' IONIQ 5 features a less powerful rear motor and smaller 58 kWh battery delivering 384 km of range (WLTP).
The Ioniq 5 is now eligible for a wider range of government subsidies than before.
All configurations and trims now feature a heat pump, battery heating system, and battery conditioning as standard.
Besides the addition of a smaller 58 kWh battery, there have been no changes to the Ioniq 5's drivetrain and battery system
Starting from $64,500 before on-road costs, the 2024 Hyundai Ioniq 5 now offers up to 507km of claimed WLTP range, a retro-futuristic design, ultra-rapid charging capability and more. The most expensive Ioniq 5 is the AWD EPIQ configuration which costs $84,000 before on-road costs.
Available stock will continue to be directly sold by Hyundai in occasional ‘sales drop’ windows with an online-only, fixed-pricing approach instead of the traditional dealer queues.
The Hyundai Ioniq 5 is eligible for select Australian state incentives. For further information, check out our comprehensive guide.
It competes with its Kia EV6 sibling, popular Tesla Model Y, Volvo XC40 and C40 Recharge and more.
Ioniq 5 Specs: Range, Charging and Size
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The 2024 Ioniq 5 is offered in three levels of drivetrain power and two battery pack sizes
Standard Range RWD
The 'base' Standard Range RWD features a single rear motor producing 125 kW and 350 Nm of Torque capable of sprinting to the 100 km/hr mark in 8.5 seconds. It houses the smaller 58 kWh battery resulting in a claimed WLTP driving range of 384 km.
Long Range RWD
The Long Range RWD features a more powerful rear motor producing 168 kW and 350 Nm of Torque capable of sprinting to the 100 km/hr mark in 7.3 seconds. It houses the larger 77.4 kWh battery resulting in a claimed WLTP driving range of 507 km.
Long Range AWD
The Long Range RWD features a dual-motor setup producing a combined 239 kW and 605 Nm of Torque capable of sprinting to the 100 km/hr mark in 5.1 seconds. It houses the larger 77.4 kWh battery resulting in a claimed WLTP driving range of 454 km. The range is reduced compared to the RWD version due to the additional weight of the front motor.
The Ioniq 5 is rated to tow up to 1600kg braked or 750kg unbraked and comes with a “trailer pre-wiring package” as standard.
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Based on a more advanced 800-volt class charging architecture, the 2024 Ioniq 5 carries ultra rapid charging capabilities of 350kW DC and 11kW AC. However, zecar believes the former is more likely to achieve around 250kW DC as we tested with the 2022 Kia EV6 GT-Line AWD.
Hyundai says it can recharge from 10 to 80 per cent in around 73 minutes on a 50kW public fast charger, cutting down to just 18 minutes when on a 350kW ultra rapid station.
Going from 10 to 100 per cent takes around 11 hours and 45 minutes overnight on a 7kW AC charger.
The electric crossover uses the standard Type 2/CCS2 connector located on the rear-right side. It includes a trickle charger to plug into a standard household socket.
Vehicle-to-load (V2L) discharging functionality is standard on all models with a standard socket inside and outside via the charging port using the included Type 2 to V2L adapter.
All variants feature a heat pump which harvests heat from the electric motors to heat the climate control and improves energy efficiency.
Also included is active battery preconditioning. When a DC charger is set as the destination in the built-in navigation system, it will actively warm up the battery pack prior to achieve more optimal fast charging speeds.
It offers a range of regenerative braking levels, including ‘i-Pedal’ for one pedal driving and an adaptive recuperation mode.
Ioniq 5: Size and Dimensions
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The Hyundai Ioniq 5 is based on the dedicated Hyundai Electric Global Modular Platform (E-GMP) shared with the sportier-looking Kia EV6 and more luxurious Genesis GV60. It is manufactured in South Korea.
Outside, the Ioniq 5 is inspired by a retro design that harps back to the Hyundai Pony sedan that was released in the ‘70s. Design elements include pixel motifs, ‘liquid silver’ matte cladding, horizontal line patterns, and a badge-less steering wheel hub with four squares representing ‘H’ in morse code.
Inside, it’s available with three interior trims – Obsidian Black, Dove Grey/Dark Pebble Grey, or Dove Grey/Dark Teal – but is matched with a pair of exterior colours. All models come with dual windscreen displays wrapped in white bezels, employ sustainable materials like paperette, eco-processed leather seats and other recycled materials, a 9.4-litre glovebox drawer, and slidable ‘Universal Island’ centre console.
The rear outboard seats house two ISOFIX child seat anchor points. The rear row can be reclined and folded in a 60/40 split. It offers a frunk storage space – 57-litres on the Dynamiq RWD or 25-litres on the AWD versions.
Ioniq 5 Price, Models and Features
The 2024 Hyundai Ioniq 5 line-up comes in three trim levels across the various drivetrain and battery configurations: IONIQ 5, DYNAMIQ, and EPIQ.
Ioniq 5 Standard Range IONIQ 5 RWD price: $65,500 before on-road costs
The IONIQ 5 Standard Range comes as standard:
- 58kWh (gross) battery
- 19-inch alloy wheels (235/55 Michelin Primacy 4 tyres)
- Heat pump
- Battery heating system with pre-conditioning function
- Gloss black window frame and mirror trim
- Satin chrome door and bumper trim with liquid silver body cladding, front and rear skid plates
- SmartSense safety assistance suite (details above)
- 12.3-inch infotainment system with built-in maps and wired Apple CarPlay and Android Auto
- 12.3-inch digital driver’s instrument display
- AR HUD
- Qi wireless phone charging pad
- Eight-speaker Bose premium audio
- Leather eco processed seats and leather steering wheel
- Premium bio PET carpet
- LED interior lighting
- Auto up/down front windows
- Remote front window open/close
- Power child lock (rear doors and windows)
- 10-way power driver and front passenger seats with two-way lumbar support
- Heated front seats
- Dual-zone climate control with cabin air filter and air vents
- PTC electric heater
- Sliding centre console and glovebox
- Reclining rear-row seats
- Full auto LED projector-type headlights, taillights and daytime running lights
- Acoustic laminated windscreen and windows, solar control windscreen and front door windows
- Rear privacy glass
- Rain sensing wipers
- Auto pop-out flush door handles
- Heated power folding side mirrors
- Smart power tailgate
- Alloy scuff plates and pedals
- Luggage net
- Paddle shifters (controls regenerative braking intensity)
- Keyless entry with push button start
- Remote start and remote smart parking assist
- V2L interior and exterior
Ioniq 5 Long Range IONIQ 5 RWD price: $70,500 before on-road costs
The IONIQ 5 Long Range comes as standard:
- 77.4kWh (gross) battery
- All of the above standard features
Ioniq 5 Long Range Dynamiq RWD price: $76,000 before on-road costs
The Dynamiq RWD comes with as standard:
- 77.4kWh (gross) battery
- 20-inch alloy wheels (235/55 Michelin Primacy 4 tyres)
- Gloss black window frame and mirror trim
- Satin chrome door and bumper trim with liquid silver body cladding, front and rear skid plates
- SmartSense safety assistance suite (details above)
- 12.3-inch infotainment system with built-in maps and wired Apple CarPlay and Android Auto
- 12.3-inch digital driver’s instrument display
- AR HUD
- Qi wireless phone charging pad
- Eight-speaker Bose premium audio
- Leather eco processed seats and leather steering wheel
- Premium bio PET carpet
- LED interior lighting
- Auto up/down front windows
- Remote front window open/close
- Power child lock (rear doors and windows)
- 10-way power driver and front passenger seats with two-way lumbar support
- Heated front seats
- Dual-zone climate control with cabin air filter and air vents
- PTC electric heater
- Sliding centre console and glovebox
- Reclining rear-row seats
- Full auto LED projector-type headlights, taillights and daytime running lights
- Acoustic laminated windscreen and windows, solar control windscreen and front door windows
- Rear privacy glass
- Rain sensing wipers
- Auto pop-out flush door handles
- Heated power folding side mirrors
- Smart power tailgate
- Alloy scuff plates and pedals
- Luggage net
- Paddle shifters (controls regenerative braking intensity)
- Keyless entry with push button start
- Remote start and remote smart parking assist
- V2L interior and exterior
Ioniq 5 Dynamiq AWD price: $80,500 before on-road costs
- All of the above standard features
Ioniq 5 Epiq RWD price: $79,500 before on-road costs
The Techniq AWD gains:
- 20-inch alloy wheels (255/45 Michelin Pilot Sport EV tyres)
- Premium relaxation front seats
- Ventilated front seats
- Heated steering wheel
- Two-way heated, power sliding rear seats
- Rear-row window sunshades
- Three-memory function for all seats
- “Under-bonnet insulator”
Ioniq 5 Epiq AWD price: $80,000 before on-road costs
The flagship Epiq AWD adds:
- Panoramic glass roof
- Digital side mirrors
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Ioniq 5 N price: $111,000 before on-road costs
Hyundai Ioniq 5 Options
- Gloss paint with Obsidian Black interior – no cost: Atlas White, Phantom Black
- Gloss paint with Dove Grey/Dark Pebble Grey interior – no cost: Digital Teal-Green, Lucid Blue
- Gloss paint with Dove Grey/Dark Teal interior interior – no cost: Galactic Grey
- Matte paint with Dove Grey/Dark Teal interior – $1000: Gravity Gold
- Digital mirror pack - $3,000
Ioniq 5 Warranty and Servicing
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All Hyundai’s are backed by a five-year, unlimited kilometre vehicle warranty and eight-year/160,000km high voltage battery warranty.
The brand offers roadside assistance and updates to the built-in map system for up to 10 years renewed at every schedule service visit, and an unlimited capped price servicing program.
Additionally, Hyundai has now extended its servicing intervals to every 24 months/30,000km for the 2023 Ioniq 5. However, servicing prices have increased compared to its 2022 predecessor. For example, the first 72 months/90,000km maintenance visits will now set owners back $2230 compared to $1904 before – a nearly 15 per cent increase.
It must be serviced at select trained and certified Hyundai BlueDrive dealers across the country.
Ioniq 5 compared to other EVs
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Ioniq 5 Standard Range 2WD
Ioniq 5 Long Range 2WD
Ioniq 5 Long Range AWD
About the author
Danny Thai
Danny is a consultant and entrepreneur working at the cutting edge of the electric vehicle and energy transition. He is passionate about educating and helping consumers make better decisions through data. He is the founder of zecar and is currently the EV Innovation Manager at Endeavour Energy.
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