Hyundai Australia has released information regarding the 2024 Hyundai Ioniq 5, which now includes a more affordable entry-level option.

There are three grades available: the base Ioniq 5, the Dynamiq, and the Epiq. Each grade now offers two variants each.

All three grades include new heat pumps and battery conditioning systems. These features enhance efficiency and driving range.

Ioniq 5 base model

The highlight of the lineup is the new base model.

The base model is a rear-wheel-drive variant with a 125 kW motor and a 58 kWh battery pack. It offers a driving range of 384 km according to WLTP certification. The starting price for this option is 64,500 AUD before on-road costs and applicable discounts.

Compared to the 2023 Ioniq 5, the base car features a more eco-friendly interior. Seat upholstery is made from 30 percent Australian-sourced wool yarn and eco-processed synthetic leather bolsters. Hyundai claims that these new seats reduce CO2 emissions by 24 percent compared to traditional polyester seat coverings.

The base grade is also available with the Extended Range option, which includes a more powerful 168 kW motor and a 77.4 kWh battery pack. With this configuration, the car can travel up to 507 km on a single charge. The Extended Range option is available from $70,500.

Ioniq 5 Dynamiq

The mid-spec Dynamiq is offered in both rear-wheel-drive and all-wheel-drive variants. Both are equipped with a 77.4 kWh battery pack. The rear-wheel-drive formulation provides a range of 476 km, while the all-wheel-drive option offers a range of 454 km.

In addition, the all-wheel-drive variant features a 165 kW rear motor and a 74 kW front motor.

According to CarsGuide, prices for the Dynamiq grade start from $76,000 for the rear-wheel-drive variant and $80,500 for the all-wheel-drive variant.

Additional features of the Dynamiq grade include 20-inch alloy wheels, tinted rear windows, a power tailgate, eco-processed leather seats, and heated front seats.

Ioniq 5 Epiq

The top-of-the-line Epiq can be obtained in either rear-wheel-drive ($79,500) or all-wheel-drive ($84,000). Both variants offer the same performance and range.

For an added cost of $3,000, the Epiq can be equipped with a digital mirror pack that consists of two camera-based side mirrors and a digital center mirror. The new center mirror provides a wider 50-degree field of view compared to the 20-degree view of a traditional rearview mirror.

Additional features provided in the Epiq grade include a fixed panoramic sunroof, front “relaxation” seats, built-in rear window shades, ventilated front seats, and a heated steering wheel.

The Ioniq 5’s superior pricing

With a new entry-price of $64,500, the 2024 Hyundai Ioniq 5 becomes more competitive with its sister car, the Kia EV6 (starting from $72,590). Remarkably, the Ioniq 5 is now cheaper than the popular Tesla Model Y (starting from $65,400). However, the Model Y remains more powerful.

Furthermore, the Ioniq 5 range will offer a high-performance N variant priced from $111,000 before on-road costs. The Ioniq 5 N boasts a dual-motor powertrain generating 448 kW/740 Nm. This can be boosted to 478 kW/770 Nm for a short time in boost mode.

Image Source: Flyin18T Motorsports,