Hyundai Canada has just released pricing for its new electric vehicle, the Ioniq 5. The compact crossover is the first to come out via the Ioniq sub-brand, which will be dedicated to producing all-electric models. We already know there are two more models - the Ioniq 6 and Ioniq 7 – on the way.
Just today, in fact, the Seven concept teased by Hyundai gave us a first glimpse of what will likely become the Ioniq 7.
The pricing announced today for the Ioniq 5 was pretty predictable, at least in one respect: with the base version listed at under $45,000, the EV becomes eligible for government discounts, both federal and, where applicable, at the provincial level. This is of course a good thing for consumers.
And so, the Essential version is priced at $44,999. In this configuration the Ioniq 5 offers a range of 354 km, as does the next in line, the Preferred, which will require an additional $2,000 to purchase.
Then comes the Preferred Long Range variant with its 480 km of range, priced at $51,999. Adding all-wheel drive to this version adds $3,000 to the price and reduces range to 415 km. Still interesting though.
Then, at the top of the ladder, Hyundai offers a Preferred Long Range version with all-wheel drive, but plus the Ultimate equipment package. Here, the price will be $59,999, with a range reduced by 15 km for a total of 400.
If you're wondering why the fluctuating range, that’s because the Ioniq 5 will be available with two battery pack options, either 58 kWh or 77.4 kWh. And with the latter, you'll have the choice of two electric motor configurations: a rear motor option, or with two motors, one in the front and one in the rear.
All of which makes for a varied selection of versions to choose from, which is helpful to satisfy different needs in terms of equipment level, engine configuration and desired range.
To all these prices, don’t forget to add $1,825 for shipping and preparation fees - a bill that’s far too high and always difficult to swallow. We’ll never tire of repeating that…
Hyundai is, predictably, quite excited about this lineup and the imminent arrival of the model at dealerships:
“We’ve seen an unparalleled level of excitement surrounding IONIQ 5 from customers and dealers, and we’re thrilled to bring to market an EV presenting tremendous overall value, and also a variety of battery and drivetrain options.”
- Don Romano, President and CEO of Hyundai Auto Canada
About the Ioniq 5
The Ioniq 5, we’ll remind you, is based on the company's Electric-Global Modular Platform (E-GMP), a structure that will see several more models within the group over the next few years. Hyundai hopes to launch 23 electric models around the world by 2025.
The Ioniq 5 is built on an 800-volt architecture, which allows for charging from 10 to 80 percent in just 18 minutes. This time will serve as a benchmark across the industry.
As for the output of the versions offered, the smallest battery pack delivers 225 hp and 258 lb-ft of torque. With the largest, horsepower increases to 320 and torque to 446 lb-ft. In the latter case, we're talking about a 0-100 km/h time of only 5.1 seconds.
The Ioniq 5 is expected to arrive at Hyundai dealerships across the country in December. The first 2,000 units will hit the road for those who have already reserved a model.
Here is the full price list (prices do not include $1,825 in transport/preparation fees):
| .. | Model | Drivetrain | Range | MSRP (CAD) |
| Essential | 2WD | 354 km | $44,999 | |
| Preferred | 2WD | 354 km | $46,999 | |
| Preferred Long Range | 2WD | 480 km | $51,999 | |
| Preferred Long Range | AWD | 415 km | $54,999 | |
| Preferred Long Range w/Ultimate | AWD | 400 km | $59,999 |
