Previewing the 2024 Hyundai Ioniq 5: What should Hyundai change?

  • Second model year update for the Hyundai Ioniq 5 in the U.S.
  • No technical changes expected in the 2024 Ioniq 5
  • Could be launched in Summer 2023
  • New model expected to be priced from just under USD 42,000

The Hyundai Ioniq 5, which hit U.S. dealerships in December 2021, is set to receive a second model year update soon. The futuristic electric vehicle had received minor improvements during its initial revision last year, and the 2024 update is expected to include further enhancements. Here’s everything we expect from the 2024 Hyundai Ioniq 5. Please bear in mind that the details and accompanying visuals in this article represent the current model year, and we will update this page as additional information becomes available.

Design & Interior

The basic design of the Hyundai Ioniq 5 will be carried over to the 2024 model year car in the U.S. market. We’re not expecting major design changes in the vehicle before 2025.

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.

Hyundai Ioniq 5 bidirectional charging
In the U.S. market, the Hyundai Ioniq 5’s V2L function can supply up to 1.9 kW of power. Image Source: Hyundai

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.


Hyundai launched the Hyundai Ioniq 5 in four trim levels in the U.S., namely SE Standard Range, SE, SEL, and Limited. With the MY2023 update, the SEL trim lost the projector-type LED headlights and received the comparatively basic multi-reflector-type LED headlights. On the plus side, the SEL trim gained the NFC-based Hyundai Digital Key feature. The MY2024 update could also bring such equipment revisions to carried-over trims.

Below are the expected key features of the 2024 Hyundai Ioniq 5:

2024 Hyundai Ioniq 5 SE Standard Range2024 Hyundai Ioniq 5 SE2024 Hyundai Ioniq 5 SEL2024 Hyundai Ioniq 5 Limited
19-inch Aero alloy wheels19-inch Aero alloy wheels19-inch Aero alloy wheels20-inch alloy wheels (AWD configurations)
MFR-type LED headlightsMFR-type LED headlightsMFR-type LED headlightsProjector-type LED headlights
12.3-inch digital instrument cluster12.3-inch digital instrument clusterHyundai Digital Key“Vision” panoramic sunroof
12.3-inch touchscreen infotainment system12.3-inch touchscreen infotainment systemHands-free smart liftgate with auto openPremium Remote Smart Parking Assist (RSPA)
Bluelink Connected Car SystemBluelink Connected Car SystemHighway Driving Assist (HDA-2) Level 2Surround View Monitor (SVM)
Heated front seatsHeated front seatsAmbient interior lightingBlind-Spot View Monitor (BVM)
Ultra-fast chargingUltra-fast chargingLeatherette seating surfacesTwo-way onboard charger
2024 Hyundai Ioniq 5 trims & features for the U.S. market (expected).

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 should continue with the specifications of the outgoing model. However, it wouldn’t surprise us if Hyundai includes efficiency-related improvements for an improved range.


The 2024 Hyundai Ioniq 5 would measure 182.5 inches in length, 74.4 inches in width, and 63.0 inches in height. It would have an exceptionally long wheelbase of 118.1 inches, 3.9 inches longer than the Palisade.

27.2 cu. ft. of cargo space would be 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 will likely be available in the same variants as the outgoing model: Standard Range RWD, Long Range RWD, and Long Range AWD. A heat pump will likely be standard in all three variants.

In the 2023 model, 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 an EPA-est. 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 266 miles.

Towing Capacity

The 2024 Hyundai Ioniq 5 will likely offer a braked towing capacity of 2,300 lbs and an unbraked towing capacity of 1,650 lbs. Like in the outgoing model, don’t expect the Standard Range RWD configuration to be tow-rated.

AspectStandard Range RWDLong Range RWDLong Range AWD
Battery Capacity58 kWh77.4 kWh77.4 kWh
Drivetrain LayoutRWDRWDAWD
Motor(s)One: RearOne: RearFront & rear
Power168 horsepower225 horsepower320 horsepower
Torque258 Lb.-Ft.258 Lb.-Ft.446 Lb.-Ft.
Top Speed115 mph115 mph115 mph
Towing CapacityNot Recommended1,650 lbs1,650 lbs
Range220 miles303 miles266 miles
MPG Equivalent127 MPGe (city)/94 MPGe (highway)/110 MPGe (combined)132 MPGe (city)/98 MPGe (highway)/114 MPGe (combined)113 MPGe (city)/90 MPGe (highway)/101 MPGe (combined)
2024 Hyundai Ioniq 5 specifications (expected)


We expect no changes in the charging aspect either. The Standard Range RWD variant should take 5 hours and 50 minutes for a 10-100% AC charging session, while the Long Range RWD and Long Range AWD variants may take 7 hours and 10 minutes to accomplish the same. A 10-80% DC charging session should be a matter of just 18 minutes in all three variants.

The 2024 Hyundai Ioniq 5 will likely feature a battery preconditioning function in all the configurations. We expect this function to optimize the battery pack’s temperature in advance when the driver sets a fast-charger as the destination in the onboard navigation.

When the Ioniq 5 debuted in 2021, it was Hyundai Motor Group’s first E-GMP platform model, and supported both 400-volt and 800-volt charging infrastructures. No additional components are required to use either of the charging infrastructures.

Charging MethodCharging 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 minutes7 hours 10 minutes7 hours 10 minutes
Rapid Charging: >250kW (800V)
(from 10-80% SoC)
18 minutes18 minutes18 minutes
2024 Hyundai Ioniq 5 Charging Times (expected)

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. We expect no changes in this area with the 2024 model year update.

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., has 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.

Hyundai Ioniq 5 charging
Charging the 2024 Hyundai Ioniq 5 from 10-80% SoC using a 350 kW DC fast-charger will likely take just 18 minutes. Image Source: Hyundai

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 May 5, 2023, its charging network consists of 806 charging stations.

Hyundai Ioniq 5 Safety

The 2024 Hyundai Ioniq 5 should pack a host of advanced driver assistance systems and be 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) will likely be standard.

Other standard safety equipment may include Driver Attention Warning, Rear Occupant Alert, Safe Exit Assist, and Parking Distance Warning – Reverse. 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) will likely be optional.

‘Hyundai Home’ for the Ioniq 5

Hyundai Home Ioniq 5 charging
With Hyundai Home, American customers can charge their Ioniq 5 using eco-friendly energy even at home. Image Source: Hyundai Motor Group

EVs don’t benefit the environment if their energy doesn’t come from clean sources. So, Hyundai is helping its 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. 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).

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 8,059 units by April, 10% lesser than the January-April 2022 (8,921 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.

TopElectricSUV says

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 upcoming MY2024 update is expected to 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 will likely be announced in Summer 2023.

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.

Which EVs will be the Hyundai Ioniq 5 alternatives/competitors?

Featured Image Source: Hyundai Newsroom