Despite the chip shortage.
An eagle-eyed Twitter user named Matt Karolian recently made an interesting observation while browsing Hyundai USA's website. The Ioniq 5's release date was initially marked as Fall 2021, but this has now been updated to "Coming Winter 2021."
The Ioniq 5 is the first model in Hyundai's new all-electric range, all riding on the same dedicated EV platform. Following the introduction of the 5, Hyundai will introduce the Ioniq 6 and eventually the Ioniq 7.
We talked to Hyundai, who told us that fall/winter 2021 was the plan all long, and despite the chip shortage, there has been no change in timing.
Though Hyundai is handling the semiconductor chip shortage better than most, its strategy relies entirely on having a 30-day inventory. This was announced in early September, and eventually, that stock will run out.
It would be in Hyundai's best interest to dedicate what little resources are available to its best-selling models, which are the Tucson, Santa Fe, and Elantra. Other manufacturers are following a similar strategy, dedicating the chips they have to volume models. Ford has even gone as far as selling the F-150 sans certain features, giving customers credit instead. We expect the chip shortage will get better from the third quarter. This closely matches what Mercedes has to say on the topic.
Hyundai has a lot invested in the Ioniq sub-brand. Like Genesis, Ioniq will be its own thing catering to a specific audience. Hyundai has gone for a holistic approach instead of just offering an EV powertrain and a cool design. The interior is made from eco-friendly materials, for example.
The Ioniq 5 will also debut with a 292 to 298-mile range and will be the first Hyundai equipped with Highway Driving Assist 2, a semi-autonomous driver assistance system.
Hyundai needs to get this launch exactly right, while going up against the Volkswagen ID.4 and Tesla Model Y.