The Hyundai Ioniq 5, which hit U.S. dealerships in December 2021, is receiving its second model year update, Hyundai Motor America has confirmed. The futuristic electric vehicle gained minor improvements during its initial revision in 2022, and the 2024MY includes further enhancements. Here’s everything we know about the 2024 Hyundai Ioniq 5. Note that the visuals in this article represent the 2023 model, and we will update this page as the 2024 model’s pictures become available.
Design & Interior
The 2024 Hyundai Ioniq 5 carries over the outgoing model’s basic design. We may see design changes in the 2025 model.
The neo-retro EV takes cues from the Hyundai Pony classic car and is designed around the new “timeless” design philosophy. Clamshell hood, Parametric Pixel lights, the diamond-shaped greenhouse, clean and sharp lines, and super-sized wheels are some of the exterior design highlights.
The low-profile, minimalist, and futuristic design continues inside. The Hyundai Ioniq 5 interior incorporates the ‘Living Space’ theme. The dashboard and center console occupy less space than similar ICE-powered traditional crossovers. Many elements are made from eco-friendly, sustainably sourced materials, such as plant-based (bio PET) yarns and natural wool yarns, recycled PET bottles, bio paint with plant extracts, and eco-processed leather with plant-based extracts. The large windows and panoramic sunroof, along with the available light-tone upholstery, ensure that the driver and passengers get a lot of natural light and feel fresh.
The U.S.-spec version has a marker inside the headlamps, an immediate differentiator from the global model. Another difference is the tail lamps which blink completely as turn indicators. The European-spec Hyundai Ioniq 5 has a separate turn indicator in the cluster.
The Hyundai Ioniq 5 features pixel-inspired futuristic LED headlights and rear lights, 20-inch alloy wheels – the largest wheels ever fitted to a Hyundai EV, and auto-flush door handles.
Inside, the Hyundai Ioniq 5 has features like a dual-cockpit comprising a 12.3-inch virtual instrument cluster and a 12.3-inch touchscreen infotainment system, an Augmented Reality Head-Up Display (AR HUD), and a Universal Island moveable console (140-mm/5.5-inch rear-sliding floor console).
The Hyundai Ioniq 5 is the brand’s first EV to offer a Vehicle-to-Load (V2L) function that allows charging other EVs and using high-power electric equipment using the energy stored in the battery pack. Globally, up to 3.6 kW of power can be supplied using this function, enough to power home appliances and electronic devices during camping or power cuts, or charge another EV stuck at a remote place with an empty battery pack. In the U.S. market, however, the V2L function can supply up to 1.9 kW of power.
Like Tesla EVs, it is possible to ‘Plug and Charge’ the Hyundai Ioniq 5. When the charger is connected, the authentication and payment take place automatically, and the charging starts.
The 2024 Hyundai Ioniq 5 is available in three trims as the outgoing model – SE, SEL, and Limited. There are a few equipment changes in the carried-over trims, though. The Limited trim includes a new convenience feature – digital IRVM. Connectivity is better in all the trims, thanks to the inclusion of Wi-Fi hotspot. There are improvements in the safety aspect as well, which we’ve covered in a dedicated section later in the story.
Below are the key features of the 2024 Hyundai Ioniq 5:
|2024 Hyundai Ioniq 5 SE Standard Range||2024 Hyundai Ioniq 5 SE||2024 Hyundai Ioniq 5 SEL||2024 Hyundai Ioniq 5 Limited|
|19-inch Aero alloy wheels||19-inch Aero alloy wheels||19-inch Aero alloy wheels||20-inch alloy wheels (AWD configurations)|
|MFR-type LED headlights||MFR-type LED headlights||MFR-type LED headlights||Projector-type LED headlights|
|12.3-inch digital instrument cluster||12.3-inch digital instrument cluster||Hyundai Digital Key||“Vision” panoramic sunroof|
|12.3-inch touchscreen infotainment system||12.3-inch touchscreen infotainment system||Hands-free smart liftgate with auto open||Premium Remote Smart Parking Assist (RSPA)|
|Bluelink Connected Car System||Bluelink Connected Car System||Highway Driving Assist (HDA-2) Level 2||Surround View Monitor (SVM)|
|Heated front seats||Heated front seats||Ambient interior lighting||Blind-Spot View Monitor (BVM)|
|Ultra-fast charging||Ultra-fast charging||Leatherette seating surfaces||Two-way onboard charger|
|Wi-Fi Hotspot||Wi-Fi Hotspot||Wi-Fi Hotspot||Digital IRVM|
Hyundai Ioniq 5 colors
Cyber Gray, Digital Teal, Phantom Black, Atlas White, Lucid Blue, Shooting Star, and Gravity Gold will likely be the paint options of the 2024 Hyundai Ioniq 5. Gray, Black, and Dark Green should continue as the interior color choices.
The 2024 Ioniq 5 has no technical changes, so the specifications are the same as the outgoing model for the most part.
The 2024 Hyundai Ioniq 5 measures 182.5 inches in length, 74.4 inches in width, and 63.0 inches in height. It has an exceptionally long wheelbase of 118.1 inches, 3.9 inches longer than the Palisade.
27.2 cu. ft. of cargo space is available behind the rear seats, and on folding the second-row seats, 59.3 cu. ft. of total cargo space would be available. There’d be a front space or ‘frunk’ as well, offering 0.85 cu. ft. of storage space regardless of the drivetrain layout.
Range & Performance
The 2024 Hyundai Ioniq 5 is available in the same variants as the outgoing model: Standard Range RWD, Long Range RWD, and Long Range AWD. A heat pump is standard in all three variants.
The base variant has a 58 kWh battery pack and a rear motor generating 125 kW (168 hp) and 258 lb.-ft of torque. It can travel up to 220 miles on a full charge.
The mid-level variant uses a 77.4 kWh battery pack for a longer range. Moreover, it has a powerful rear motor that produces 168 kW (225 hp), although the torque output is the same – 258 lb.-ft. It returns a range of 303 miles.
The top-end variant sports two motors, which develop 320 hp and 446 lb.-ft of torque and give the EV an AWD drivetrain layout. It uses the same 77.4 kWh battery pack as the Long Range RWD variant. It delivers an EPA-est. range of 260 miles, 6 miles lower than the outgoing model. The reason behind the drop in the range is unknown.
The 2024 Hyundai Ioniq 5 offers a braked towing capacity of 2,300 lbs and an unbraked towing capacity of 1,650 lbs. Like in the outgoing model, the Standard Range RWD configuration isn’t tow-rated.
|Aspect||Standard Range RWD||Long Range RWD||Long Range AWD|
|Battery Capacity||58 kWh||77.4 kWh||77.4 kWh|
|Motor(s)||One: Rear||One: Rear||Front & rear|
|Power||168 horsepower||225 horsepower||320 horsepower|
|Torque||258 Lb.-Ft.||258 Lb.-Ft.||446 Lb.-Ft.|
|Top Speed||115 mph||115 mph||115 mph|
|Towing Capacity||Not Recommended||1,650 lbs||1,650 lbs|
|Range||220 miles||303 miles||260 miles|
|MPG Equivalent||127 MPGe (city)/94 MPGe (highway)/110 MPGe (combined)||132 MPGe (city)/98 MPGe (highway)/114 MPGe (combined)||110 MPGe (city)/88 MPGe (highway)/99 MPGe (combined)|
There are no changes in the charging aspect. The Standard Range RWD variant takes 5 hours and 50 minutes for a 10-100% AC charging session, while the Long Range RWD and Long Range AWD variants take 7 hours and 10 minutes to accomplish the same. A 10-80% DC charging session is a matter of just 18 minutes in all three variants.
The 2024 Hyundai Ioniq 5 features a battery preconditioning function in all the configurations. This function optimizes the battery pack’s temperature in advance when the driver sets a fast-charger as the destination in the onboard navigation.
|Charging Method||Charging Time (Standard Range RWD)||Charging Time (Long Range RWD)||Charging Time (Long Range AWD)|
|AC Level II, Standard 240V|
(from 10-100% SoC)
|5 hours 50 minutes||7 hours 10 minutes||7 hours 10 minutes|
|Rapid Charging: >250kW (800V)|
(from 10-80% SoC)
|18 minutes||18 minutes||18 minutes|
The peak power of the onboard charger of the U.S.-spec Ioniq 5 is 10.9 kW. Hyundai hasn’t specified the maximum DC charging input, but like in the Euro-spec model, which is available with 58 kWh and 72.6 kWh battery pack options, it could be up to at least 220 kW.
Fast-charging or rapid-charging rates don’t usually last for long. The charging power often tapers quickly after reaching its peak, mostly to prevent the battery pack from overheating. That isn’t the case in the Hyundai Ioniq 5, though. Ryan Miller, Senior Manager Electric Vehicle Performance Development, Hyundai America Technical Center, INC., had told Automotive News that the E-GMP platform has a newly developed cooling system called “in-cell cooling.” The edge of the cells has direct contact with a cooling plate, which uses liquid cooling.
As per the Automotive News report, high-power charging in the Ioniq 5 generates almost twice as much heat as in the Kona Electric. Yet, thanks to better thermal management, it can charge at more than two times the rate. It’s possible to consistently charge the Ioniq 5’s battery pack at more than 200 kW from 10% SoC until about 55% SoC. Moreover, the drop in the charging power afterward happens gradually.
Electrify America charging network
For the Hyundai Ioniq 5’s charging network in the U.S., Hyundai has partnered with Electrify America. Customers can enjoy free 30-minute charging sessions from the date of purchase at Electrify America charging stations for two years, and this scheme will likely be applicable to the 2024 model, too. Electrify America’s charging stations allow charging at speeds of up to 150 kW and 350 kW. As of July 17, 2023, its network consists of 822 charging stations.
Hyundai Ioniq 5 Safety
The 2024 Hyundai Ioniq 5 packs a host of advanced driver assistance systems and is one of the safest models in its class. Blind-Spot Collision Avoidance Assist, Rear Cross-Traffic Collision Avoidance Assist, Forward Collision-Avoidance Assist with Car/Ped/Cyclist Detection and Junction Turning, Lane Keeping Assist, Lane Following Assist, and Highway Driving Assist I (HDA I) are standard.
Other carried-over standard safety equipment includes Driver Attention Warning, Rear Occupant Alert, Safe Exit Assist, and Parking Distance Warning – Reverse. Additionally, there are three new features on the list of standard safety equipment in the updated model – rear side airbags, rear outboard seatbelt pretensioners and load limiters, and steering wheel haptic feedback for Lane Keeping Assist and Blind-spot Collision-avoidance Assist.
Surround View Monitor, Blind-Spot View Monitor (BVM), Parking Distance Warning – Forward, and Forward Collision-Avoidance Assist with Car/Ped/Cyclist Detection and Junction Turning/Crossing, and Highway Driving Assist II (HDA II) are optional.
‘Hyundai Home’ for the Ioniq 5
EVs don’t benefit the environment if their energy doesn’t come from clean sources. So, Hyundai is helping U.S. customers to set up a clean energy solution right in their homes. Called ‘Hyundai Home,’ this solution enables customers to charge EVs using solar energy. The company offers Hyundai Home through its dealerships in 40 states.
In partnership with Electrum, Hyundai has developed an online marketplace on which Ioniq 5 customers can connect with solar panels, energy storage systems, EV chargers, and local installers. They can purchase their home charger, get instant cost estimates for solar panels from multiple installers, and also have a dedicated Energy Advisor to guide them for both these items as well as home energy storage.
Production & Sales
Hyundai Motor Group manufactures the Hyundai Ioniq 5 at the Plant No. 1 of the Hyundai Ulsan plant in South Korea, and ships it to the United States. The company is building a multi-brand, dedicated EV factory with an annual production capacity of 300,000 units in Bryan County, (Georgia) USA, where the start of production is two years away (H1 2025). The future iteration of the Ioniq 5 is expected to be made in the U.S.
Hyundai sold 22,982 units of the Ioniq 5 in the U.S. in 2022, the model’s first full year of sales. In 2023, the company delivered 13,641 units by June, nearly the same as in January-June 2022 (13,692 units).
Price & Release Date
The 2024 Hyundai Ioniq 5’s prices will likely start at just under USD 42,000. It’ll be possible to lease the new model, too, likely with a monthly fee of USD 426-657 and an upfront payment of USD 3,999-4,008 at signing. Customers who want an alternative to outright purchase but don’t want to give a long-term commitment will be able to subscribe to the 2024 Ioniq 5 under Hyundai’s Evolve+ program, likely for periods as short as just 28 days and a monthly payment of USD 899 onwards.
The Evolve+ subscription service will provide customers with a convenient and low-risk way of owning/experiencing a 2024 Ioniq 5. Customers will need to make only one monthly payment that includes all the costs and covers the vehicle, insurance, roadside assistance, and maintenance. The try-and-buy concept should be particularly effective in drawing the interest of the fence-sitters in switching from an ICE vehicle to an EV.
With the tenure options restricted to just a few months, the subscription plans aren’t aimed at creating a permanent alternative ownership model for the Ioniq 5. The intention here is to generate customer interest by offering a trial period.
The Ioniq 5 deserves much better sales, given its futuristic design, impressive performance, and efficiency. The vehicle’s accessibility has also improved with the availability of leasing and subscription options. The MY2024 update will make the South Korean EV more appealing with a few minor enhancements.
2024 Hyundai Ioniq 5 FAQs
What is the 2024 Hyundai Ioniq 5 U.S. release date?
The 2024 Hyundai Ioniq 5 has been announced, and should reach U.S. dealers later this year.
What will be the 2024 Hyundai Ioniq 5 price?
The 2024 Hyundai Ioniq 5’s prices will likely start at just under USD 42,000.
Featured Image Source: Hyundai Newsroom
An automobile engineer by training, I’ve analyzed the global car market since 2005, with a keen focus on EVs since 2008. My journey in online automotive publishing spans 16 years, during which I have reviewed cutting-edge automotive technologies and interviewed leading CEOs and vehicle developers from around the world.