Cheaper Hyundai Ioniq 5 model now available in Australia

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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. 

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.

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 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 

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