Hyundai Ioniq 5

Hyundai has confirmed North American pricing for its flagship electric SUV, the IONIQ 5, with customer deliveries also set to begin this month.

Back in November, Hyundai confirmed that the entry level IONIQ 5 – the ‘Essential’ – would be available in Canada from $44,999, and would share the same rear-wheel drive, 58 kWh battery setup as the next highest trim, the $46,999 ‘Preferred’. The estimated range for both is an identical 354 km.

The three remaining higher trims meanwhile range from the $51,999 Preferred Long Range, to the $54,999 Preferred AWD Long Range, and finally the $59,999 Preferred AWD LR w/Ultimate Package. Each uses the larger 77.4 kWh battery, though the mid-range Preferred Long Range is the only one of the aforementioned three to feature rear-wheel rather than all-wheel drive.

Hyundai Ioniq 5

Hyundai Ioniq 5

Interestingly, this RWD 77.4 kWh package actually gives the Preferred Long Range the highest estimated range of all five trim levels at 480 km, 65 km more than its AWD equivalent (415 km) and 80 km more than the fully-loaded option (400 km). The above pricing does not include the $1,825 delivery and destination costs.

“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,” Hyundai Canada CEO and president, Don Romano, explained in an official statement at the time.

As of this week, pricing for the IONIQ 5 has also been confirmed for the United States, albeit across seven different trim levels in contrast to Canada’s five.

The US’ entry level model – the SE Standard Range – will start from US$39,700, and features a 168 hp rear-driving motor. Significantly, the SE SR appears to be the sole trim in the US available as rear-wheel drive only and with the lower capacity 58 kWh battery (354 km estimated). The remaining six meanwhile are available as RWD and/or AWD configurations, and with the larger 77.4 kWh battery pack.

Hyundai Ioniq 5

Hyundai Ioniq 5

The SE is available from US$43,650 with a 225 hp RWD rear motor and US$47,150 with a 320 hp AWD dual motor. Likewise, the SEL is available with a 225 hp RWD rear motor from US$45,900 and a 320 hp AWD dual motor from US$49,400. The RWD options on both trims proffer an estimated 487 km range, while the AWD versions boast a 412 km estimated range.

The US’ options are completed by the top tier Limited, available as RWD and AWD from US$50,600 and US$54,500 respectively. Each features the aforementioned rear and/or dual motor drivetrains. Freight costs are an additional US$1,225.

Though these are the stated MSRPs, both Canada and the United States offer financial incentives for new customers, meaning the actual prices could be much lower for prospective customers. Federal tax credits in the US for example could hack the above prices by US$7,500, while in Canada, $5,000 of federal rebates are available, as well as further rebates, ranging from $3,000 to $8,000, from some provincial governments.

The first model to be built atop Hyundai’s EV-dedicated Electric-Global Modular Platform (E-GMP) platform, and the first model to feature Hyundai’s ‘IONIQ’ nomenclature, the 5 was launched earlier this year in February. The crossover is also the flagship of the Hyundai Motor Group’s goal to introduce 23 new battery electric vehicles and sell one million BEV units worldwide by 2025.

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