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Cheaper Hyundai Ioniq 5 model now available in Australia


Hyundai Australia has made alterations to its Ioniq 5 lineup for 2024, adding a lower cost smaller battery entry model 

Hyundai has officially launched a cheaper variant of its Ioniq 5 electric midsize SUV, with the more affordable grade set for a 2024 release date.

Priced more competitively from $64,500 before on-road costs, the new base model simply named Ioniq 5 will use a 58kWh (54kWh usable) battery pack with 384km (WLTP) range. 

The existing Ioniq 5 models use a 74kWh usable battery with range claims as high as 507km – but the smaller battery will give Hyundai a direct rival to the $65,400 Tesla Model Y rear-wheel drive and the $67,400 Polestar 2 standard range. 

The Ioniq 5 has now gained a more affordable sibling

Hyundai has changed the lineup for the Ioniq 5 for 2024, which now includes the eponymous Ioniq 5 trim, followed by the mid-range Dynamiq grade (from $76,000) and then the Epiq sitting as the flagship. 

Pricing tops out at $84,000 before on-road costs for the dual-motor Epiq AWD grade.

Hyundai will also allow customers to option digital side mirrors and a digital rear-view mirror on the Epiq grade for an additional $3000.

Digital side mirrors are available as an option on the Epiq grade

The Ioniq 5 is powered in base guise by a 125kW/350Nm rear-mounted electric motor, with the extended range producing 168kW/350Nm.  

Standard equipment inclusions for Ioniq 5 2024

As standard, the base Ioniq 5 comes standard with the following features:

  • 12.3-inch multimedia touchscreen
  • 12.3-inch digital instrument cluster 
  • Paddle shifters for regen braking 
  • Wireless phone charging 
  • Wired Apple CarPlay and Android Auto 
  • Rain sensing wipers
  • One pedal driving 
  • Drive mode selection
  • Six speaker sound system
  • LED headlights and tail lights 
Standard 12.3-inch dual screens feature in the Ioniq 5

Standard safety features on the Ioniq 5 for 2024 include:

  • Forward collision avoidance 
  • Lane keep assist 
  • Blind spot monitoring 
  • Speed limit assist 
  • Rear cross traffic alert 
  • Evasive steering assist 
  • High beam assist 
  • Safe exit assist 
  • Tyre pressure monitoring 
The Hyundai Ioniq 5 now starts from $64,500 before on-road costs

Hyundai Ioniq 5 2024: prices in Australia

All prices listed are before on-road costs.

  • Ioniq 5 RWD standard range: $64,500
  • Ioniq 5 RWD long range: $70,500
  • Dynamiq RWD: $76,000
  • Dynamiq AWD: $80,500
  • Epiq RWD: $79,500
  • Epiq AWD: $84,000