Hyundai IONIQ 5 EV U.S. Pricing: From $40,925

Hyundai has revealed pricing for its IONIQ 5 electric vehicle (EV), slated to go on sale in the U.S. in late December — reports Automotive News.

The new all-electric compact crossover starts at $40,925 USD and goes all the way up to $55,725 USD for the dual-motor ‘Limited’ variant.

The Hyundai IONIQ 5 will be available in the following trims:

  • IONIQ 5 SE Standard Range ($40,925): 168 hp, 57 kWh battery pack, 220 miles of EPA-rated range, single-motor rear-wheel drive.
  • IONIQ 5 SE ($44,875): 225 hp, 77.4 kWh battery pack, 303 miles of EPA-rated range, single-motor rear-wheel drive.
  • IONIQ 5 SE AWD ($48,375): 320 hp, 77.4 kWh battery pack, 256 miles of range, dual-motor all-wheel drive.
  • IONIQ 5 SEL ($47,125): Mid-level trim with single-motor rear-wheel drive. Also available in dual-motor all-wheel drive for an additional $3,500.
  • IONIQ 5 Limited ($51,825): Higher-end trim, single-motor rear-wheel drive.
  • IONIQ 5 Limited AWD ($55,725): Dual-motor all-wheel drive.

All prices include shipping. The IONIQ 5 has access to U.S. federal tax credits of up to $7,500, plus any available state and local incentives.

Hyundai unveiled the IONIQ 5 back in February with plans to launch it in the winter of this year. According to Hyundai, the IONIQ 5 “includes unexpected levels of standard equipment,” which includes a 12.3-inch infotainment system and a full suite of safety and driver-assistance features.

IONIQ 5 buyers will also be treated to two years of free, unlimited charging on the Electrify America EV charging network.

The Hyundai IONIQ 5 is built on the company’s new E-GMP platform with an 800-volt battery architecture, which allows for ultra-fast charging. The electric crossover features a pretty unique design and is priced quite aggressively.

Hyundai is targeting the budget electric crossover market with the IONIQ 5, which is not as heavily contested as the more premium segment. With the base IONIQ 5’s sticker price being around two-thirds that of the cheapest Model Y, Hyundai should also get plenty of room to breathe.

As for Canada, the Hyundai IONIQ 5 has been available to pre-order in the Great White North since June, and Canadian pricing starts at $44,999 CAD.