LOS ANGELES — Hyundai’s first EV on a dedicated platform, the Ioniq 5 compact crossover, will come to the U.S. market in the fall with an extended-range battery targeting 300 miles of range.
The retro-styled vehicle will also come with two years of free charging at Electrify America stations and an optional subscription ownership model. It will face rivals such as the Ford Mach-E, Volkswagen ID4, Tesla Model Y and Kia EV6 from Hyundai’s corporate sibling next year.
The global premiere of the Ioniq 5 came in late February, but Hyundai released details on U.S.-bound versions on Monday. Trim specifications and pricing are expected closer to the U.S. launch date. Hyundai said there will be a “pre-reservation” program with unique perks but did not offer details.
Unlike the two battery options that will be offered at launch by the EV6, the Ioniq 5 will initially be offered only with the larger 77.4 kilowatt-hour battery.
The Ioniq 5 will initially be sold in 17 states: the 10 “ZEV” states that follow California’s emissions rules, along with Texas, Florida, Illinois, Georgia, North Carolina, Pennsylvania and Arizona. The EV will be rolled out to additional states in 2022. Kia’s EV6 goes on sale early next year in all 50 states.
While the Ioniq 5 and EV6 share the E-GMP platform developed by parent company Hyundai Motor Group, Kia is offering a wider number of versions in the U.S. initially with the EV6. Kia will offer a base version with a 58 kilowatt-hour battery as well as several models with the bigger battery.
Hyundai’s Ioniq 5, however, will focus initially on maximum range with either a single rear-drive motor putting out 225 hp or all-wheel-drive versions with two motors and combined output of 320 hp. The EV6 lineup will range from a 167-hp rwd version to a 576-hp awd performance model.
“When equipped with a single [rear] motor, Ioniq 5’s targeted maximum driving range on a single charge is 300 miles,” Hyundai said in a news release.
The estimated range of the Ioniq 5 is subject to testing and certification by the EPA.
“The targeted range of the dual motor all-wheel drive SE and SEL models is 269 miles. The top-of-the-line Limited awd model has a targeted range of 244 miles,” Hyundai said. “All configurations have a top speed of 115 miles per hour and can tow a trailer with a capacity of up to 1,500 pounds.”
The arrival of the Ioniq 5 in the U.S. will also mark the launch of Hyundai’s EV subbrand, also called Ioniq after an existing compact hatchback that comes in hybrid, plug-in hybrid and EV versions. Hyundai plans an Ioniq 6 sedan in 2022 and a larger Ioniq 7 crossover in 2024.
“Ioniq 5 introduces the Hyundai brand to a whole new set of buyers,” said Jose Muñoz, CEO of Hyundai Motor America. “Once behind the steering wheel, they are going to be shocked by the range, power, comfort, interior space and advanced technology.”
The Ioniq 5, which has ultra-fast charging capabilities not offered by mainstream rivals, will come with two years of free charging on the Electrify America network, Hyundai said. Buyers will get unlimited 30-minute sessions at about 800 stations expected to be in operation by the end of 2021.
Hyundai said it will offer more details on the free charging agreement closer to launch.
The Ioniq 5 will also come with some kind of subscription model, according to Hyundai, which did not detail the new offering.
Hyundai Motor America “is also looking at alternative ownership models to attract and engage first-time EV customers. People are interested in trying EVs, but want to do so in a convenient, low-risk way and are already comfortable using subscriptions to buy goods and services,” the company said.
“In the future, Hyundai dealers will offer a simple automobile subscription service for Ioniq shoppers,” the company said. “This subscription service will feature a single, all-inclusive monthly payment, covering the vehicle, insurance and maintenance.”