Lots of people who ordered the Ioniq 5 are going to be disappointed.
Thanks to its retro-inspired styling, impressive range, and innovative interior, the Hyundai Ioniq 5 has been warmly received by the public. Unfortunately, problems behind the scenes are affecting the Ioniq 5's production just over a month after it debuted.
Earlier this month, workers at Hyundai's Ulsan plant in South Korea, where the Ioniq 5 is being built, threatened to go on strike. Now, The Korean Car Blog reports that production of the Ioniq 5 has been stalled due to the semiconductor chip shortage that's affecting the entire electronics industry including autos. As a result of the shortage, manufacturing at the Ulsan plant, which also builds the Hyundai Kona, will be suspended from April 7-14.
Specifically, the parts shortage is affecting the production of the Ioniq 5's electric motors and the front camera system in the Kona. Consequently, Hyundai will no longer be able to meet initial production targets for the Ioniq 5. Next month, Hyundai was planning to produce 10,000 units of the Ioniq 5, Hyundai now expects to only build 2,600 units due to the production shutdown.
Demand for the Ioniq 5 has been high, as Hyundai received 24,000 orders in South Korea on the day of the reveal. All 3,000 examples of the limited-edition Project 45 launch model have also sold out in Europe.
In total, Hyundai has so far received around 40,000 pre-orders for the Ioniq 5. Deliveries for Hyundai's first dedicated EV were expected to start in the first half of 2021 in some regions and this fall in the US, but we won't be surprised if the production shortfall causes delays.
If you need a refresher, the Hyundai Ioniq 5 is available with either a single rear or dual-motor setup. With an optional 72.6-kWh battery and all-wheel drive, the most powerful variant produces 301 horsepower and 446 lb-ft of torque and will accelerate from 0-62 mph in 5.2 seconds before maxing out at 115 mph. The more-efficient two-wheel drive version will go about 295 miles on a charge.
US pricing has not yet been confirmed.