Hyundai Ioniq 5 - Range, charging and running costs
With a practical range and charging ability that leaves rivals standing, the Ioniq 5 should fit seamlessly into family life
The Ioniq 5 lineup starts with a 58kWh battery paired with a single 168bhp motor driving the rear wheels, which provides a range of up to 238 miles. Hyundai has replaced the 73kWh battery with a bigger 77.4kWh version for the 2023 model year, although variants with the smaller power cell still offer useful range; the 214bhp car is capable of travelling up to 280 miles before needing the batteries replenished, while the 301bhp model utilises a dual-motor set-up, allowing for around 267 miles between charges.
Hyundai's own numbers suggest the 77.4kWh rear-wheel-drive version with 225bhp should be good for around 315 miles on a single charge, with the more powerful 321bhp all-wheel-drive variant still able to cover 298 miles before running out of juice.
A real boon for Ioniq 5 owners is the car’s ability to support 800V charging, which means you can top-up from 10 to 80 percent in around 18 minutes. In comparison, a Ford Mustang Mach-E Standard Range car will take 38 minutes to complete the same task.
Business users will continue to be attracted to the tax benefits of running a zero-emission vehicle, with Benefit-in-Kind rates of just two per cent for the following year, while not forgetting that there is no road tax to pay and electricity costs are still much less than relying on petrol or diesel to run your car.
Insurance
Those looking to buy an all-electric car will recognise the benefits of lower day-to-day running costs and the green advantages of emissions-free motoring. What might be more of a surprise is that insurance costs for EVs can often be higher than combustion-engined models, mainly due to the increased cost of repair or the need to replace specific electric components (particularly the lithium-ion batteries) if you happen to be involved in a collision.
The previous entry-level 168bhp Ioniq 5 in SE Connect trim is in group 35 for insurance, while moving up to the 214bhp Premium car sees a rise to group 40E. The 301bhp Ultimate version also sits in group 40E.
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Depreciation
Our expert data suggests that the Ioniq 5 should hold onto around 56 per cent of its original value come trade-in time (based on a typical three-year/36,000-mile ownership period). The trim level that retains its value best is the cheapest 58kWh Premium at 58 per cent with the most powerful Namsan Edition returning 54 per cent.
By way of comparison, the Kia EV6 fares a little better with an average of 59 per cent retained over the same period, while the Mustang Mach-E rival is on 49 per cent, overall.
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