Nam Hyun-woo has worked as a staff writer at The Korea Times since 2013, mostly covering business and politics. He currently belongs to the Business Desk where he covers topics such as emerging tech, AI, ICT and Korea's chaebol community. Prior to joining the team, he was the paper's correspondent for the presidential office of Korea during the Yoon Suk Yeol and Moon Jae-in administrations.
Hyundai Motor kicks off EV transition with IONIQ 5
Hyundai Motor's IONIQ 5 electric vehicle / Courtesy of Hyundai Motor
By Nam Hyun-woo
By Nam Hyun-woo
Hyundai Motor has unveiled its IONIQ 5 electric crossover vehicle, the first car manufactured based on its E-GMP electric vehicle (EV) platform.
Given that the platform will be used for a slew of Hyundai and Kia EVs, the launch of the IONIQ 5 and the market response to it will play a critical role in Hyundai Motor Group's ambition to become a leader in the global EV market.
“With the IONIQ 5, we are seeking to become a top-tier brand that leads the global EV market,” Hyundai Motor CEO Chang Jae-hoon said during an online press conference. “With this vehicle, we want to provide a unique customer experience and take the lead in the future mobility business.”
The IONIQ 5 is the first car out of Hyundai Motor's new EV-dedicated IONIQ brand. Starting with the model, which is a midsize crossover, the company will introduce the IONIQ 6 midsize electric sedan next year and the IONIQ 7 large SUV in 2024.
Since the IONIQ 5 was built on a designated EV design platform, it has unique proportions for its wheelbase and overhang, as well as providing a flat floor.
The vehicle is 4.64 meters long, which is similar to the company's Tucson midsize crossover, but has a 3-meter wheelbase, which is 50 centimeters longer than that of Hyundai Motor's flagship Palisade SUV. This provides a spacious cabin, which Hyundai Motor head designer Lee Sang-yup described as an innovation in space.
Since the platform enables the vehicle's floor to be flat, Hyundai Motor placed a moveable center console that can slide back as much as 14 centimeters to provide more freedom of movement inside the vehicle.
The IONIQ 5 comes in two power configurations ― a long-range model with a 72.6 kilowatt-hour battery pack and a standard model with a 58 kilowatt-hour pack. The long-range model can drive up to 430 kilometers on a single charge by Korean measurement standards.
The 72.6 kilowatt-hour battery can produce a combined power output of 225 kilowatt-hour and 605 Newton-meter of torque in the four-wheel variant, allowing this model to reach 100 kilometers per hour in 5.2 seconds.
Improvements were also made in charging. When using 350 kilowatt rapid chargers, the battery is charged from 10 percent to 80 percent within 18 minutes, and users can drive up to 100 kilometers after five minutes of charging.
The cabin of the Hyundai IONIQ 5 / Courtesy of Hyundai Motor
Another interesting feature of the vehicle is vehicle-to-load function, allows customers to freely use or charge any electric devices, such as electric bicycles, scooters or camping equipment, by using 220-volt electric outlets the vehicle is equipped with.
Hyundai Motor said it will begin domestic preorders Feb. 25. The company did not reveal the exact price range, but said the long-range model will be around 50 million won. When government incentives for EVs are subtracted, the company said customers will be able to purchase the vehicle for below 40 million won.
The company seeks to sell more than 26,500 IONIQ 5s in Korea and 70,000 on the global market for this year. The vehicle will go into mass production at Hyundai's Ulsan plant from next month, and its delivery will begin in Europe first, followed by Korea and the U.S.
During the press conference, CEO Chang apologized for a number of fire cases involving the company's Kona EV, and will announce the cause of those accidents in the near future. Industry officials expect that Korea's transport ministry may announce this Wednesday.