This will make it competitive with the Mustang Mach-E.
The Hyundai Motor Group has an interesting product cadence for its Hyundai, Kia, and Genesis brands. Traditionally, new models are released to a global audience months before they are officially announced for the United States. This is the case for the 2022 Hyundai Ioniq 5, which made its global debut in February without some of the key specifications for the US-bound models. It won't be much longer until Hyundai divulges more details, as the Korean automaker just announced it will debut in North America on May 24.
Unless the specs change for the North American models, the Ioniq 5 will ship with either a 58-kWh or 72.6-kWh battery pack. The original range estimate for the rear-wheel-drive long-range model was between 292-298 miles, but the final numbers might be even better according to the most recent Hyundai press release.
Ahead of this month's North American product announcement, Hyundai confirmed the Ioniq 5 would arrive with "ultra-fast charging, Vehicle-to-Load power capability, and up to 300 miles of driving range." Considering that the EPA-rated range is always pessimistic compared to the WLTP numbers, 300 miles for the North American-spec vehicle is a great achievement. We will have to wait for the presentation to find out the more accurate range estimates, including what configurations Hyundai plans to offer in the US market.
During the debut, Hyundai will discuss its company-wide commitment to electrification, the Ioniq 5's design, specific North American product attributes, and other major announcements. The Korean automaker will also delve deeper into the car's Vehicle-to-Load (V2L) function, which allows customers to charge electric devices such as bicycles, scooters, or camping equipment from the vehicle.
Hyundai originally confirmed the Ioniq 5 will arrive in the US starting in fall 2021, so this May announcement might be too early to discuss pricing. If the range is confirmed at 300 miles and the price falls in the low-$40,000 range before federal tax credits, the Ioniq 5 will pose a huge threat to the Ford Mustang Mach-E, Tesla Model Y, and Volkswagen ID.4.
Less than one week before Hyundai gives its presentation, Kia will announce more details on its upcoming EV - the 2022 Kia EV6 - that shares a platform with the Ioniq 5.