Hyundai recently debuted the Ioniq 5 in India and it will be launched at Auto Expo 2023. Bookings for the electric crossover opened on December 21 for Rs 1 lakh.
- India-spec Ioniq 5 is RWD only
- Will be locally assembled
- Will rival Volvo XC40 recharge, among others
Hyundai Ioniq 5 price to undercut Kia EV6
The Ioniq 5 is expected to be priced between Rs 45 lakh-50 lakh, significantly undercutting its cousin the Kia EV6, which is priced between Rs 59.95 lakh-64.95 lakh (ex-showroom, Delhi).
A major reason for this will be that Hyundai will assemble the Ioniq 5 in India using CKD (completely knocked down) kits at its facilities in Tamil Nadu, according to sources. CKD and SKD (semi knocked down) units attract 15 and 30 percent customs duty, respectively. The Kia EV6, on the other hand, is brought in as a CBU (completely built unit) and attracts a hefty 60 percent customs duty.
Another reason could be that while Kia is offering the EV6 with rear-wheel drive and all-wheel drive configurations, Hyundai is only offering the Ioniq 5 with a rear-wheel drive set-up. The Ioniq 5 also gets a slightly smaller battery – 72.6kWh – while the EV6 gets a 77.4kWh battery pack.
The Hyundai Ioniq 5's single-motor produces 217hp and 350Nm of torque. However, the Kia EV6's single-motor set-up produces 229hp and 350Nm, while the dual-motor produces 325hp and 605Nm of torque.
Hyundai Ioniq 5: rivals in India
The Ioniq 5 will compete with its cousin – the EV6 – even though it will be significantly cheaper. It will also rival the Volvo XC40 Recharge, which is priced at Rs 55.90 lakh (ex-showroom, Delhi). Although not a direct competitor, the Ioniq 5 will also compete with the Mini Cooper SE that costs Rs 50.90 lakh (ex-showroom).
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