Image: Hyundai Australia
Hyundai has announced the pricing and specifications of the 2024 version of the well regarded Ioniq 5 electric SUV with a surprise. It now includes a more affordable base model variant, with a smaller battery and lower range, making it more accessible to more drivers.
The Techniq variant has been replaced with two new variants, one of which includes the new entry-level rear-wheel-drive (RWD) version, and the other is the all-wheel-drive (AWD).
The main difference is that new RWD version has a smaller battery (58.kWh versus 77.4kWh) and costs $64,500 before on road costs, compared witt $70,500 for the AWD version. Previously, the Ioniq 5 had a starting price of $72,000, so the entry-level RWD variant is considerably more affordable.
“An enhanced line-up for 2024 Ioniq 5 makes our multi-award-winning EV even more appealing and accessible to customers, accelerating progress towards our vision for clean mobility,” Hyundai Australia’s CEO, Ted Lee said.
The Ioniq 5 has been well received by the market, winning multiple awards across the globe. But it’s availability in Australia has been limited by supply issues, and just 631 have been sold this year.
The new pricing should enable it to better compete with the likes of the Model Y, the market leader, although that will depend on supply. One of its attractions is the vehicle-to-load capabilities, and it comes as Hyundai also release a much pricier, performance version of the Ioniq 5 known as the N.
The full 2024 Ioniq 5 lineup and pricing are:
The RWD version of the Ioniq 5 variant will now be eligible for certain state and territory subsidies as it comes under the threshold. With a smaller 58 kWh battery, it has a claimed range of 384 km on the WLTP cycle, making it ideal for city driving and occasional road trips.
Other changes to the lineup include the addition of an updated AWD version for the Dynamiq variant and the Epiq variant now receiving a new RWD version. The Dynamiq variant also receives 20-inch alloy wheels as standard.
The range-topper 2023 Ioniq 5 Epiq variant previously had the digital mirrors as standard but after customer feedback, Hyundai is including them as an option.
The digital mirror pack will cost $3,000. On top of the digital side mirrors in the pack, the Epiq variant also includes a digital centre mirror.
The new model will feature a heat pump that will be offered across the range. There is also battery conditioning now available as standard across the range which helps with achieving faster charging speeds more often.
The new 2024 Ioniq 5 range is available to order now.
Powertrain summary
| 2024 IONIQ 5 | |||
| Battery | Standard Range 58.0 kWh – NEW | Extended Range 77.4 kWh | |
| Drive | Rear Wheel Drive | Rear Wheel Drive | HTRAC Dual Motor |
| Motor power | 125 kW | 168 kW | 74 kW + 165 kW |
| Motor torque | 350 Nm | 350 Nm | 255 Nm + 350 Nm |
| WLTP Range | 384 km (19” wheel) | 507 km (19” wheel)
476 km (20” wheel) |
454 km (20” wheel) |
Pricing
| Powertrain | Battery | Transmission | IONIQ 5 | DYNAMIQ | EPIQ |
| 125kW 2WD | 53kWh | Reduction gear – rear | $64,500 | – | – |
| 168kW 2WD | 77.4kWh | Reduction gear – rear | $70,500 | $76,000 | $79,500 |
| 239kW AWD | 77.4kWh | Reduction gear – rear & front | – | $80,500 | $84,000 |
| Option pricing | IONIQ 5 | DYNAMIQ | EPIQ |
| Matte Paint | – | $1,000 | $1,000 |
| Digital mirror pack | – | – | $3,000 |
Note: All prices are Manufacturer’s List Price (MLP) and include Luxury Car Tax (LCT) where applicable. Price excludes delivery and on-road costs.
SPECIFICATION OVERVIEW
| IONIQ 5 | 125 kW Standard Range – RWD 168 kW Extended Range – RWD |
|
| Key specifications: | ||
| Heat pump | Trailer pre-wiring package | Auto up/down front windows |
| Battery heating system | 19” Alloy wheels | Convenience front window open/close |
| Battery conditioning function | 235/55 Michelin Primacy 4 tyres | Power child lock – rear doors/windows |
| 7 airbags – incl. front centre side airbag | Tyre Mobility Kit (TMK) | 10-way power driver seat |
| SmartSense™ including: | Auto dusk sensing headlights | – including 2-way lumbar support |
| – Forward Collision-Avoidance Assist; | LED headlights, including: | 6-way manually adjustable passenger seat |
| – Car / Pedestrian / Cyclist detection | – Low/high beam – projector type | 2-way manual rear seats – fore/aft (60:40) |
| – Junction Turning & Crossing | – Positioning lights | 60:40 split fold rear backrest with recline |
| – Lane Change Oncoming & Side | – Daytime Running Lights (DRL) | 12.3” digital instrument cluster |
| – Evasive Steering Assist | – Turn signals | Adjustable ambient lighting |
| – Blind-Spot Collision Avoidance-Assist | LED front light guide – hidden type | ECM interior mirror |
| – Blind-Spot View Monitor | LED tail and rear combination lights | Sliding glovebox – 9.4L capacity |
| – Driver Attention Warning, including: | Acoustic laminated windscreen | Shift by Wire – column mounted |
| – Leading Vehicle Departure Alert | Acoustic laminated side door glass (F/R) | Paddle shifters – regenerative brake control |
| – High Beam Assist | Solar control windscreen/front door glass | Smart Key with push button start |
| – Intelligent Speed Limit Assist | Power door handles – capacitive touch | Remote start – via Smart Key |
| – Lane Following Assist | Heated & power folding side mirrors | Smart Parking Assist (SPA) |
| – Lane Keeping Assist – Line/Road-Edge | Rain sensing aero wipers | Remote Smart Parking Assist (RSPA) |
| – Manual Speed Limit Assist | Gloss black window frame/mirror trim | 12.3” Multimedia navigation unit |
| – Parking Collision-Avoidance Assist – Rear | Satin chrome door & bumper trim | Android Auto/Apple CarPlay – wired |
| – Parking Distance Warning – Front/Rear | Liquid silver body cladding | Multi-Bluetooth connectivity |
| – Rear Cross-Traffic Collision-Avoidance | and front/rear skid plates | 6 Speaker audio system |
| – Rear Occupant Alert – logic type | Wool yarn/eco-processed leather appointed | Wireless phone charger (Qi standard) |
| – Safe Exit Assist | combination seats | 2 x USB-A charging ports – front |
| – Smart Cruise Control, including: | Leather appointed steering wheel | 2 x USB-A charging ports – rear |
| – Stop & Go function | Premium bio-PET carpet | 1 x 12V socket – front |
| – Machine Learning function | Cloth knit headlining | 1 x 12V socket – cargo |
| – 3D Surround View Monitor | LED interior lighting | Dual zone climate control with auto defog |
| Tyre Pressure Monitoring System (TPMS) | Alloy scuff plates | Rear air vents |
| Electronic Park Brake (EPB) – with auto hold | Cargo blind | Cabin air filter |
| Drive Mode – Eco, Normal, Sport, Snow | 527L cargo – with underfloor storage | Virtual Engine Sound System (VESS) |
| i-Pedal mode (one pedal driving) | 57L front under-bonnet cargo capacity | Portable emergency charging cable – ICCB |
| Smart regenerative braking 2.0 | Alarm | Vehicle To Load (V2L) function – Inside |
| IONIQ 5 DYNAMIC | 168k W Extended Range – RWD
165 kW + 74k W Extended Range – AWD |
|
| Key specifications above IONIQ 5: | ||
| 20” Alloy wheels | Eco-processed leather appointed seats | Alloy pedals |
| 255/45 Michelin Pilot Sport EV tyres | Heated front seats | Luggage net |
| Privacy rear door/tailgate glass | 10-way power passenger seat | Head-Up Display, including: |
| Smart Power tailgate | – including 2-way lumbar support | – Augmented Reality mode (AR HUD) |
| 25L front under-bonnet cargo capacity – AWD | Sliding centre console | BOSE™ premium audio with 8 speakers |
| IONIQ 5 EPIQ | 168 kW Extended Range – RWD
165 kW + 74 kW Extended Range – AWD |
|
| Key specifications above DYNAMIQ: | ||
| Vision Roof – fixed glass panel, including: | Memory driver & all passenger seats (F/R) | Ventilated front seats |
| – power sunshade | 2-way power rear seats – fore/aft (60:40) | Heated rear seats |
| Premium ‘relaxation’ seats – front | Rear door sunshades | Heated steering wheel |
| Digital Mirror Pack – optional on EPIQ | ||
| Includes: | – Digital Side Mirrors (DSM) | – Digital Centre Mirror (DCM) |
Riz is the founder of carloop based in Melbourne, specialising in Australian EV data, insight reports and trends. He is a mechanical engineer who spent the first 7 years of his career building transport infrastructure before starting carloop. He has a passion for cars, particularly EVs and wants to help reduce transport emissions in Australia. He currently drives a red Tesla Model 3.
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