One-of-a-kind styling, a spacious interior, and outstanding driving dynamics - did Hyundai really need to provide more reasons to buy the new Ioniq 5? Well, that hasn't stopped the Korean automaker from offering a new, more affordable trim level below the existing SE model to attract more buyers to the EV lifestyle. The 2022 Hyundai Ioniq 5 now offers an SE Standard Range model, which packs a smaller 58-kWh battery. For comparison, all other trim levels get a larger 77.4 kWh pack.

The Standard Range uses the same battery found in the Ioniq's sister car the Kia EV6 Light. As with that car, the SE Standard Range has a single electric motor at the rear generating 168 horsepower and 258 lb-ft of torque. The larger battery SE model (and all other RWD models) have 225 hp and the same amount of torque. This new trim is only available with rear-drive and without the all-wheel-drive dual-motor option.

Hyundai didn't publish performance figures for the new trim, but based on the EV6 Light, the Ioniq 5 SE Standard Range should hit 60 mph in around eight seconds. The larger battery car is a bit quicker, taking around 7.1 seconds to hit 60 mph.

In addition to dropping 57 hp compared to the larger battery car, the Standard Range also includes (as the name suggests) a lower driving range. Whereas the 77.4-kWh battery enables 303 miles on a single charge (256 miles with the dual motor setup), the 58-kWh pack will drain itself in 220 miles.

Though it drops 83 miles in range, Hyundai says the smaller battery should charge quicker on a Level 2 plug, going from 10-100 percent in around 5 hours (compared to 6 hours and 43 minutes for the larger battery). The DC fast charge estimate remains the same at 18 minutes from 10-80 percent charge.

Output and range differences aside, it appears this new Standard Range trim is identical to the larger battery SE model in every other regard. So if you're ok with a drop in power and driving range, perhaps the new trim level is worth the cost savings. The Standard Range is the cheapest way to buy an Ioniq 5, starting at $39,950 before any incentives or destination charges. That's significantly cheaper than the SE, which starts at $44,000.

A Hyundai spokesperson told CarBuzz, "the Ioniq 5 Standard Range is now available. We have sold units and have more on their way to the dealers." We know this won't be the last addition to the Ioniq 5 family with an upcoming Ioniq 5 N set to offer over 580 hp.