The Hyundai Motor Company has decided to set the price for the long-range version (72.6 kWh) of the “Ioniq 5” to be between $46,800 (52 million KRW) and $47,300 (52.5 million KRW). Considering an individual consumption tax benefit of up to $2,700 (3 million KRW) and a government subsidy of $10,800 (12 million KRW) (based on the Seoul Special City), one can actually purchase the version for about $33,300 (37 million KRW).
By deciding on a price lower than the price of Tesla’s most popular model “Model 3 Standard Range Plus ($49,300 (54.79 million KRW)), it will be interesting to see whether the company is able to hold back the current Tesla frenzy in South Korea.
According to the Hyundai Motor Company’s catalog for preorders obtained by the Electronic Times on Wednesday, the prices of the Exclusive Trim and the Prestige Trim of the Ioniq 5’s long-range version are set between $46,800 and $47,300 and $51,300 (57 million KRW) and $51,800 (57.5 million KRW) respectively. The company will start receiving preorders based on these price ranges starting from Thursday.
By making features that cause price increase optional and including necessary features as basic options, the company has lowered financial burden for potential owners of the Ioniq 5 and raised the commercial value of the Ioniq 5 at the same time
The Exclusive Trim does not include Relaxation Comfort Seats for the driver and the passenger seats and digital side mirrors that the company has prepared ambitiously for the Ioniq 5. However, the trim does come with features related to “semi-autonomous” driving and a “V2L (Vehicle to Load)” connector.
The company has also made exterior features and selective functions such as LED headlamp, 20-inch wheel, parking assistance feature, HUD (Head-up Display), Hi-Pass system, wireless smartphone charging, rain sensor, Hyundai Digital Key optional in order to lower the price range of the Exclusive Trim.
The Exclusive Trim provides a variety of ADAS (Advanced Driver-Assistance Systems) such as SCC (Smart Cruise Control) and LKA (Lane Keeping Assist). Future buyers of the trim can select a high-specification version that enhances these technologies as a separate option. Although it is common for an automaker to make SCC optional, it is likely that the Hyundai Motor Company has included it into basic options considering the makeup of Tesla’s ADAS.
The Prestige Trim comes with more advanced ADAS as well as Relaxation Comfort Seats, 20-inch wheels, and HUD and LED headlamps. Just like the Exclusive Trim, digital side mirrors will be optional. Consumers can also select options such as “solar roof” and “vision roof”.
The Hyundai Motor Company has also added many customizable products that target people who enjoy camping outdoors and inside of their cars. By utilizing the V2L feature, one can set up mini home appliances such as refrigerator that will be released in this second half. LG Electronics will sell PuriCare mini air purifier (cup-holder type) just for the Ioniq 5.
Staff Reporter Park, Jinhyung | jin@etnews.com & Staff Reporter Park, Taejoon | gaius@etnews.com