Korean automaker Hyundai has announced that its popular small electric SUV, the Ioniq 5, will be receiving a refresh in Australia in 2024. One of Gizmodo Australia’s favorite electric vehicles (EVs), the Ioniq 5 offers a brilliant interior and a terrific exterior design. However, with a previous starting price of $72,000, it was less accessible compared to other EVs in the market.
Fortunately, Hyundai is addressing this issue by lowering the cost of the Ioniq 5. The entry-level 2024 model will now start at $64,500, making it more affordable for potential buyers. However, this lower price comes with a catch. The entry-level model will have a reduced range of 384km (58 kWh battery), down from the previous 507km range.
In addition to the entry-level model, there is also an “extended range” variant available. This version offers up to 507km range (with 19-inch wheels) or 476km range (with 20-inch wheels) thanks to a larger 77.4 kWh battery. The extended range variant starts at $70,500, still below the price of last year’s cheapest Ioniq 5.
Hyundai has also made changes to the naming scheme of the Ioniq 5 lineup. The previous “Techniq” label has been removed, and now the baseline model is simply called the “Ioniq 5.” The mid-range vehicle is now called “Dynamiq,” and the high-end model is called “Epiq.” Customers can now choose between a rear-wheel drive (RWD) or all-wheel drive (AWD) drivetrain for the Dynamiq and Epiq models, while the entry-level Ioniq 5 is only available in RWD.
To further improve the Ioniq 5, Hyundai has introduced new features across all variants. These include a heat pump, battery heating system, and battery conditioning system, which were previously exclusive to more expensive models. The company has also made efforts to reduce its use of leather in the interior, incorporating a wool-blend yarn and eco-friendly leather bolsters.
For the Epiq model, a premium package is available that includes a new rear camera providing a 50% rear view angle through the center mirror. This feature is an additional $3,000 and is similar to the digital cameras found in more expensive trims of other Hyundai vehicles.
The pricing for the Ioniq 5 lineup is as follows: the entry-level model starts at $64,500, the extended range model at $70,500, the Dynamiq at $76,000, the Dynamiq AWD at $80,500, the Epiq at $79,500, and the Epiq AWD at $84,000. Compared to last year’s prices, all models have seen a decrease in cost.
Overall, this price reduction is a welcome development for the Ioniq 5 in Australia. As more automakers, such as Kia, Volvo, and Cupra, continue to offer cheaper and impressive EVs, the competition in the market is heating up. With a wide range of EV options becoming more affordable, consumers will have more choices when transitioning to electric vehicles.
Sources: Gizmodo Australia