The exterior of the Ioniq 5 unveiled by Hyundai Motor Company on the 23rd[Photo by Hyundai Motor Company]
Interior of the Ioniq 5 unveiled by Hyundai Motor Company on the 23rd[Photo by Hyundai Motor Company]
[Asia Economy Reporter Ki-min Lee] Hyundai Motor Company will begin pre-orders for its first electric vehicle produced on the dedicated electric vehicle platform G-EMP, the 'Ioniq 5,' starting from the 25th, marking its full-scale entry into the global electric vehicle market. With various tax benefits such as electric vehicle subsidies and individual consumption tax reductions applied, it is expected that the vehicle can be purchased for the high 30 million KRW range.
On the 23rd, Hyundai Motor announced through an online unveiling video of the 'Ioniq 5' that domestic pre-orders for the dedicated electric vehicle Ioniq 5 will begin on the 25th.
Pre-orders for the Ioniq 5 will be available in two trims: the Long Range Exclusive and the Prestige. Based on an individual consumption tax rate of 3.5%, the price of the Exclusive trim is in the low 50 million KRW range, while the Prestige is in the mid-50 million KRW range.
When factoring in the individual consumption tax benefit for electric vehicles (up to 3 million KRW) and purchase subsidies (1.2 million KRW based on Seoul city standards), the Long Range Exclusive trim is expected to be purchasable for the high 30 million KRW range. The contract schedule for the Standard model and the finalized prices and tax benefits for all models will be announced later.
Hyundai Motor plans to offer a benefit to 500 customers who pre-order the Ioniq 5 through a lottery, providing free installation of the customizable interior V2L feature.
Hyundai Motor is scheduled to begin mass production of the Ioniq 5 at its Ulsan plant starting next month. The vehicle will be launched sequentially in Europe next month, domestically in the second quarter, and in the United States and other regions in the second half of the year. Hyundai Motor has set a goal to sell more than 26,500 units domestically and 70,000 units worldwide this year. Jang Jae-hoon, President of Hyundai Motor, explained, "From next year onward, we plan to reach 100,000 units."
In line with the pre-orders, Hyundai Motor also plans to release a TV commercial showcasing the new technologies and experiences of the Ioniq 5. Hyundai Motor explained that the advertisement captures the beginning of the journey toward the Ioniq brand’s vision of 'Progress electrified for connected living' and the full arrival of the electric vehicle era.
Meanwhile, the G-EMP Ioniq 5 features a linear design reminiscent of Hyundai’s first model, the Pony, launched in 1976, combined with futuristic parametric pixels. It is also equipped with various driver safety features, digital side mirrors, and a movable console called the Universal Island, all futuristic convenience features. Lee Sang-yup, Executive Vice President of Hyundai Design, stated, "The message we conveyed with the electric vehicle concept '45' unveiled two years ago was that moving toward the future means respecting the past, and we wanted to show that through this car."
In particular, to continue a sustainable future, eco-friendly materials such as sugarcane, recycled plastic, and bio-oil were used in the vehicle. Ji Sung-won, Senior Executive Director of Hyundai Motor’s Creative Works Division, said, "At the core of the Ioniq brand communication is the message that we all, as members of the global community, have responsibilities and duties for the future, and through wise choices, we can create a better future together."
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