Hyundai has taken a bold approach with its new electric. The boldly styled Hyundai Ioniq 5 goes on sale this month in Australia, priced from $71,500 (before on-road costs). That makes it dearer than being a best-selling electric car in Australia, Tesla’s Model 3.
The price also means it misses out on incentives from states such as NSW and Victoria. NSW offers a $3000 cash incentive and waiving of stamp duty for electric cars under $68,750. Victoria has a similar cut-off for its $3000 cashback program.
Buyers keen on the Ioniq 5 won’t be able to place an order in a dealership. Instead, the whole order process is done online only. Hyundai is selling the Ioniq 5 directly to customers, with ten dealerships delivering the vehicles. The brand follows a similar model to makers such as Mercedes-Benz, which cut out dealerships and sold the EQC directly to customers.
Honda has moved its entire range to an agency model, where the head office owns all the vehicles and dealerships deliver and service vehicles.
Hyundai said this type of arrangement would only apply to the Ioniq 5 at this point. All other vehicles, including the Ioniq and Kona electric vehicles, remain on sale in traditional showrooms.
Hyundai Australia will have only 400 Ioniq 5s at first. Buyers need to secure their vehicle with a $2000 deposit. Customers who have already placed a stake in the past eight months will have priority; it will be first-come, first-serve.
The Ioniq 5 represents an exciting new phase of Hyundai’s electric portfolio. It is built on an all-new electric vehicle platform, unlike previous EVs that shoehorn an electric powertrain into a vehicle meant to use a conventional engine.
A dedicated electric car platform has significant benefits, including providing a spacious cabin, quicker charging times, bigger battery capacity, and the ability to scale up or down to produce several different vehicles.
Handsome and futuristic styling help the Ioniq stand out from the crowd. A sustainable-focused interior uses recycled plastic bottles and plant-based and natural fibers for the seats, headliner, carpets, and other surfaces.
A big 12.3-inch digital instrument cluster and a central infotainment screen of the same size let you know you’re driving the vehicle of the future.