Hyundai unveils Australian pricing for much anticipated Ioniq 5 electric SUV

Hyundai Australia have finally released pricing for the much-anticipated Ioniq 5 SUV – the first of its new generation of electric vehicles that are built on a dedicated platform, unlike the petrol conversions of its previous offerings.

The Ioniq 5 will come initially in two variants of the long range version – both with a 72.6kWh battery – a rear wheel drive priced at $71,900 and an all wheel drive at $75,900, before on road costs.

Unfortunately, that makes these models ineligible for the $3,000 rebates in NSW, which is capped at $68,750, but they will qualify for the stamp duty exemption ($78,0000). They will also miss out on the Victoria rebate of $3,000, which is capped at $67,000.

A lower cost version with a smaller battery (58kWh), and lower range, and a basic trim could be brought to Australia in 2022.

For many, the lack of a rebate will be a moot point. Hyundai says it has been swamped by an unprecedented level of interest with more than 10,000 would be customers registering their interest. It says 100 paid a deposit and will have priority when bookings open for them on September 27.

The other 10,000 will get an opportunity to make a firm order (with a $2,000 deposit) on October 12, before others get the opportunity on October 13.

But there will only be 400 available until the New Year (including the 100 who have already made a deposit), and they will go on a first come, first serve basis. Any excess orders will be met at a later time.

Both variants of the Ioniq 5 will have 72.6kWh li-ion polymer batteries, charging rates of up to 350kW, and ranges of 451km (2WD), and 430km (4WKD).

One of the key attractions of the Ioniq 5 is its vehicle-to-load (V2L) function, which allows customers to charge electric devices, such as electric bicycles, scooters, camping equipment, appliances in the home, or even another electric vehicle.

The “charger-on-wheels” also allows customers to charge high-power electric equipment via the vehicle’s charge port, where the vehicle can provide up to 3.6kW of power.

It will come in five different colours and three different trims. Gravity gold matte paint in the photo above will not be available at the launch in the first offering.

Giles Parkinson

Giles Parkinson is founder and editor of The Driven, and also edits and founded the Renew Economy and One Step Off The Grid web sites. He has been a journalist for nearly 40 years, is a former business and deputy editor of the Australian Financial Review, and owns a Tesla Model 3.