2024 HYUNDAI IONIQ 5 PREFERRED LR ULTIMATE
Hyundai Canada warns prospective buyers that “limited inventory” awaits anyone interested in one of the better EVs (electric vehicles) in the marketplace today.
The car? The 2024 Ioniq 5, which in “long-range” form boasts a touted range of 488 km from its 77.4 kWh battery.
But fear not. Clean Energy Canada late last year announced that its new “availability standard will reduce wait times and help Canadians unlock cost savings.”
Whew! I was worried. But then came the federal government to the rescue.
Public affairs officer Joanna Kyriazis went so far as to say that Ottawa’ regs mandating 100 per cent EV sales by 2035 “will make it a lot easier to get behind the wheel.” Ms. Kyriazis failed to tell us how government sales mandates would unlock the entire EV and battery supply chain, while also magically making EVs profitable for automakers across the board, other than Tesla.
“Automakers are losing tens of thousands of dollars for each electric vehicle sold,” CFRA equity analyst Garrett Nelson told Investor’s Business Daily. “Something had to give, and it has given.”
Modern design and roomy space.
What has given is consumer enthusiasm for EVs in Canada and the United States. It has not collapsed, mind, but it is certainly off the boil, other than in a few affluent pockets of enthusiastic early adopters in British Columbia and Quebec.
And that lack of broad demand, not to mention billions and billions in losses, have combined to force automakers into a pull-back on their EV plans and production. A lack of supply for the most popular models, in particular, seems inevitable at least in the short- and medium-term.
The Ioniq 5 almost certainly ranks up there with the most appealing EVs. It starts at a very affordable base price of $57,674, but I am not sure you want that version.
The starter 5 comes with a 166-kW electric motor and standard rear-wheel drive, at a base price of $57,924. That’s the model I just tested and it’s plenty of EV.
If I am spending my money, however, I throw in an extra two grand ($59,674) for the AWD version with its robust dual-motor setup rated at 239 kW. This is a little rocket ship with excellent traction: 0-100 km/h in less than five seconds.
Wide open back seat.
In both cases, as with all EVs, there are taxpayer subsidies to ease the pricing pain. In B.C., taxpayers are generously helping you buy the base version of the Ioniq 5 to the tune of $3,571.43. Then all Canadian taxpayers combine to give you another $4,469.29. Both incentives are applied before taxes. And so, your starter 5 comes it at $49,888.29.
That is a fair price for a thoroughly modern-looking little four-door hatchback with oceans of cabin room, zoomy performance, and an interior design marked by twin screens that give the impression of a single, seamless readout – one side for the instrument cluster, the other for the infotainment system.
You most certainly need to test this Hyundai against Ford’s Mustang Mach-E and Tesla’s Model Y. You will likely find that the Ford feels more substantial and perhaps a bit racier, while the Model Y is class-leading in raw performance and range.
Lightning fast charging abilities.
The Ioniq 5 has its own advantages, however, though generous cargo space is not one of them, nor is wireless Android Auto Apple CarPlay connectivity. Ah, but because the Ioniq and its Kia EV6 cousin can accommodate a 350-kW Level 3 fast charger, you theoretically can go from a 10 per cent charge to 80 per cent in 18 minutes. That is the second-fastest in the industry, according to J.D Power & Associates J.D. Power & Associates.
The everyday stuff work very well here, too. The ride quality is quite tidy and the spacious cabin is dead quiet even at highway speeds. The controls and bits and pieces like plugs for your devices are all very user-friendly.
I cannot imagine a better everyday city commuter car. Range is such that you won’t need to charge often and road manners in the city’s cut and thrust are ideal. This is an easy car to drive, and it is fast, too. The regenerative braking – which happens when you take your foot off the accelerator and you are slowing down – in functional but no intrusive.
Most will find the seats are just firm enough to provide long-range comfort, the ride quality is composed, the rear seating areas is huge, and there is no EV learning curve whatsoever. Adaptive cruise and lane-keep assist are welcome on longer drives, and the Bluelink app allows you to control functions like charge time limits and climate control.
Dual screen act as one.
Downside? Those very think rear pillars create blind spots.
I could very happily live with an Ioniq 5. The challenge lies in getting one, despite the bold pronouncements of Clean Energy Canada. But if you can manage the “limited availability,” then take the time to test this Hyundai.
