Hyundai has confirmed that the smaller battery capacity (58.2 kWh) version of the Ioniq 5 will be launched in the U.S. alongside the 77.4 kWh battery version, however a bit later - in Spring 2022.

This entry-level version has 220 miles of EPA range, a 125 kW electric motor for rear-wheel-drive, and, most importantly, an MSRP of $39,700 (+$1,225 DST), which after deducting the $7,500 federal tax credit will turn into effectively $33,425.

Once we checked the list of available EVs, it turns out that it's one of the least expensive electric crossovers/SUVs.

Hyundai Ioniq 5 SR Vs Hyundai Ioniq 5 LR

The first thing that requires an answer is the difference compared to the same SE trim, but with a bigger battery (77.4 kWh) and higher power output (168 kW).

It seems that almost everything is about a quarter or so lower in the SR version (battery capacity, EPA range, power), while the price is effectively 10.6% lower ($3,950).

If one does not need more range or power, maybe it's worth considering, but it's not an easy choice.

EV Comparison Side-by-Side by InsideEVs
Model 2022 Hyundai Ioniq 5 SE SR RWD 19"
[A]
Difference
[A] / [B]
2022 Hyundai Ioniq 5 SE RWD 19"
[B]
Drive RWD   RWD
Battery 58.2 kWh -24.8% 77.4 kWh
EPA Range
Combined 220 mi
(354 km)
-27.4% 303 mi
(488 km)
Specs
0-60 mph      
Top speed     115 mph
(185 km/h)
Peak power 125 kW -25.6% 168 kW
EPA Energy Consumption (including charging losses)
Combined 110 MPGe: 306 Wh/mi (190 Wh/km) -3.5% 114 MPGe: 296 Wh/mi (184 Wh/km)
City 127 MPGe: 265 Wh/mi (165 Wh/km) -3.8% 132 MPGe: 255 Wh/mi (159 Wh/km)
Highway 94 MPGe: 359 Wh/mi (223 Wh/km) -4.1% 98 MPGe: 344 Wh/mi (214 Wh/km)
Prices
MSRP $39,700 -9% $43,650
Dest. Charge +$1,225   +$1,225
Tax Credit $7,500   $7,500
Effective Price $33,425 -10.6% $37,375

Hyundai Ioniq 5 Vs Ford Mustang Mach-E

An interesting thing is that the Hyundai Ioniq 5 SR undercuts the base Ford Mustang Mach-E on price (by $4,195), but is expected to deliver only a slightly lower range, despite the battery being much smaller.

On the other hand, the Ford Mustang Mach-E should be much quicker. Hyundai Ioniq 5 will fast charge at a higher rate.

EV Comparison Side-by-Side by InsideEVs
Model 2022 Hyundai Ioniq 5 SE SR RWD 19"
[A]
Difference
[A] / [B]
2022 Ford Mustang Mach-E Select SR RWD 18"
[B]
Drive RWD   RWD
Battery 58.2 kWh -23.1% 75.7 kWh
EPA Range
Combined 220 mi
(354 km)
-4.3% 230 mi*
(370 km)
Specs
0-60 mph     5.8 s
Top speed      
Peak power 125 kW -36.9% 198 kW
EPA Energy Consumption (including charging losses)
Combined 110 MPGe: 306 Wh/mi (190 Wh/km) 10% 100 MPGe: 337 Wh/mi (209 Wh/km)
City 127 MPGe: 265 Wh/mi (165 Wh/km) 21% 105 MPGe: 321 Wh/mi (199 Wh/km)
Highway 94 MPGe: 359 Wh/mi (223 Wh/km) 1.1% 93 MPGe: 362 Wh/mi (225 Wh/km)
Prices
MSRP $39,700 -9.6% $43,895
Dest. Charge +$1,225   +$1,100
Tax Credit $7,500   $7,500
Effective Price $33,425 -10.9% $37,495

Hyundai Ioniq 5 Vs Volkswagen ID.4

Here is another surprise, the entry-level Hyundai Ioniq 5 is marginally less expensive than the Volkswagen ID.4 (we don't have prices for the 2022 model year yet).

However, that's only because the ID.4 does not have its lower-spec trims on the market yet (like the 62 kWh battery version). It also has noticeably more range and power.

EV Comparison Side-by-Side by InsideEVs
Model 2022 Hyundai Ioniq 5 SE SR RWD 19"
[A]
Difference
[A] / [B]
2021 Volkswagen ID.4 Pro 19"
[B]
Drive RWD   RWD
Battery 58.2 kWh -29% 82 kWh
EPA Range
Combined 220 mi
(354 km)
-15.4% 260 mi
(418 km)
City     278.5 mi
(448 km)
Highway     237.1 mi
(381 km)
Specs
0-60 mph      
Top speed      
Peak power 125 kW -16.7% 150 kW
EPA Energy Consumption (including charging losses)
Combined 110 MPGe: 306 Wh/mi (190 Wh/km) 11.1% 99 MPGe: 340 Wh/mi (212 Wh/km)
City 127 MPGe: 265 Wh/mi (165 Wh/km) 18.7% 107 MPGe: 315 Wh/mi (196 Wh/km)
Highway 94 MPGe: 359 Wh/mi (223 Wh/km) 3.3% 91 MPGe: 370 Wh/mi (230 Wh/km)
Prices
MSRP $39,700 -0.7% $39,995
Dest. Charge +$1,225   +$1,195
Tax Credit $7,500   $7,500
Effective Price $33,425 -0.8% $33,690

Hyundai Ioniq 5 Vs Kia Niro EV

How about this? The Hyundai Ioniq 5 SR is $200 less expensive than the base Kia Niro EV. And the EPA range is only slightly lower.

EV Comparison Side-by-Side by InsideEVs
Model 2022 Hyundai Ioniq 5 SE SR RWD 19"
[A]
Difference
[A] / [B]
2022 Kia Niro EV
[B]
Drive RWD   FWD
Battery 58.2 kWh -9.1% 64 kWh
EPA Range
Combined 220 mi
(354 km)
-7.9% 239 mi
(385 km)
City     259 mi
(417 km)
Highway     213.6 mi
(344 km)
Specs
0-60 mph     7.5 s
Top speed     104 mph
(167 km/h)
Peak power 125 kW -16.7% 150 kW
EPA Energy Consumption (including charging losses)
Combined 110 MPGe: 306 Wh/mi (190 Wh/km) -1.8% 112 MPGe: 301 Wh/mi (187 Wh/km)
City 127 MPGe: 265 Wh/mi (165 Wh/km) 3.3% 123 MPGe: 274 Wh/mi (170 Wh/km)
Highway 94 MPGe: 359 Wh/mi (223 Wh/km) -7.8% 102 MPGe: 330 Wh/mi (205 Wh/km)
Prices
MSRP $39,700 -0.7% $39,990
Dest. Charge +$1,225   +$1,175
Tax Credit $7,500   $7,500
Effective Price $33,425 -0.7% $33,665

Hyundai Ioniq 5 Vs Chevrolet Bolt EUV

The poor Chevrolet Bolt EUV is temporarily out of production, but even if it was being produced, it would not be eligible for the $7,500 federal tax credit. It means that after deducting the tax credit, the Hyundai Ioniq 5 SR would be, on paper, less expensive. Pretty surprising anomaly considering how much smaller the Bolt EUV is.

EV Comparison Side-by-Side by InsideEVs
Model 2022 Hyundai Ioniq 5 SE SR RWD 19"
[A]
Difference
[A] / [B]
2022 Chevrolet Bolt EUV
[B]
Drive RWD   FWD
Battery 58.2 kWh -10.5% 65 kWh
EPA Range
Combined 220 mi
(354 km)
-10.9% 247 mi
(397 km)
City     266.6 mi
(429 km)
Highway     222.9 mi
(359 km)
Specs
0-60 mph     7 s*
Top speed      
Peak power 125 kW -16.7% 150 kW
EPA Energy Consumption (including charging losses)
Combined 110 MPGe: 306 Wh/mi (190 Wh/km) -4.3% 115 MPGe: 293 Wh/mi (182 Wh/km)
City 127 MPGe: 265 Wh/mi (165 Wh/km) 1.6% 125 MPGe: 270 Wh/mi (168 Wh/km)
Highway 94 MPGe: 359 Wh/mi (223 Wh/km) -9.6% 104 MPGe: 324 Wh/mi (201 Wh/km)
Prices
MSRP $39,700 20.3% $33,000
Dest. Charge +$1,225   +$995
Tax Credit $7,500   N/A
Effective Price $33,425 -1.7% $33,995

Hyundai Ioniq 5 Vs Hyundai Kona Electric

Finally, the Hyundai Kona Electric, which still can get the $7,500 federal tax credit. With leveled incentives, it remains competitive with the Hyundai Ioniq 5 SR as a smaller EV with a slightly higher range.

EV Comparison Side-by-Side by InsideEVs
Model 2022 Hyundai Ioniq 5 SE SR RWD 19"
[A]
Difference
[A] / [B]
2022 Hyundai Kona Electric
[B]
Drive RWD   FWD
Battery 58.2 kWh -9.1% 64 kWh
EPA Range
Combined 220 mi
(354 km)
-14.7% 258 mi
(415 km)
City     284.1 mi
(457 km)
Highway     226 mi
(364 km)
Specs
0-60 mph     7.9 s
Top speed     104 mph
(167 km/h)
Peak power 125 kW -16.7% 150 kW
EPA Energy Consumption (including charging losses)
Combined 110 MPGe: 306 Wh/mi (190 Wh/km) -8.3% 120 MPGe: 281 Wh/mi (175 Wh/km)
City 127 MPGe: 265 Wh/mi (165 Wh/km) -3.8% 132 MPGe: 255 Wh/mi (159 Wh/km)
Highway 94 MPGe: 359 Wh/mi (223 Wh/km) -13% 108 MPGe: 312 Wh/mi (194 Wh/km)
Prices
MSRP $39,700 16.8% $34,000
Dest. Charge +$1,225   +$1,185
Tax Credit $7,500   $7,500
Effective Price $33,425 20.7% $27,685

* estimated/unofficial values

Summary

The Hyundai Ioniq 5 SR is attractively priced and it turns one to be one of the least expensive crossovers/SUVs, but it's difficult to say whether it will sell well. The Long Range version appears to have a better value proposition. The top-of-the-line version is also quite attractive in its category.

Anyway, we are happy to see the Hyundai Ioniq 5 SR and hopefully, it will be followed by a much-needed decrease in prices in the entry-level crossover/SUV segment.

Prices

Model Base Price Dest. Charge Tax Credit Effective Price
2022 Chevrolet Bolt EUV $33,000 +$995 N/A $33,995
2022 Ford Mustang Mach-E Select SR RWD 18" $43,895 +$1,100 $7,500 $37,495
2022 Hyundai Ioniq 5 SE SR RWD 19" $39,700 +$1,225 $7,500 $33,425
2022 Hyundai Ioniq 5 SE RWD 19" $43,650 +$1,225 $7,500 $37,375
2022 Kia Niro EV $39,990 +$1,175 $7,500 $33,665
2021 Volkswagen ID.4 Pro 19" $39,995 +$1,195 $7,500 $33,690

Basic specs

Model Drive Battery
(kWh)
EPA
Range
0-60
mph
(sec)
Top
Speed
2022 Chevrolet Bolt EUV FWD 65 247 mi
(397 km)
7.0*  
2022 Ford Mustang Mach-E Select SR RWD 18" RWD 75.7 230 mi*
(370 km)
5.8  
2022 Hyundai Ioniq 5 SE SR RWD 19" RWD 58.2 220 mi
(354 km)
   
2022 Hyundai Ioniq 5 SE RWD 19" RWD 77.4 303 mi
(488 km)
  115 mph
(185 km/h)
2022 Kia Niro EV FWD 64 239 mi
(385 km)
7.5 104 mph
(167 km/h)
2021 Volkswagen ID.4 Pro 19" RWD 82 260 mi
(418 km)
   
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