What kind of car is the 2023 Hyundai Ioniq 5? What does it compare to?

The Ioniq 5 five-door electric hatchback has more than 300 miles of battery range in its top model, pitting it against the Tesla Model Y, Volkswagen ID.4, and Ford Mustang Mach-E.

Is the 2023 Hyundai Ioniq 5 a good car?

Review continues below

It’s striking, swift, spacious, and incredibly efficient with electronics. We give it a high TCC Rating of 8.4 out of 10. (Read more about how we rate cars.)

What’s new for the 2023 Hyundai Ioniq 5?

A battery pre-conditioner now is standard, and all but the base long-range model can tow 2,300 lb. Range on the AWD edition is up to 266 miles, and EPA ratings have risen to 113/90/101 MPGe on the three versions.

New last year, the Ioniq 5 started with a clean slate: new battery-electric architecture, new name, new look. Since then it’s been joined by the Genesis GV60 and Kia EV6 on its EV skateboard, but it’s no less distinctive. Hyundai pays design homage to its past with the Ioniq 5—which really looks like and should be dubbed the Pony. The 1980s-era hatchback shape has some exquisite details, from the crisp LED lighting to the deep V-shaped creases in its door panels. Inside it’s spanned by twin digital displays and doles out some of the same spare but sporty ethos, while also doling out great interior room. Riding on a 118.1-inch wheelbase, the Ioniq 5 has more space between its front and rear wheels than a three-row Palisade SUV. The tall-wagon interior has a flat floor and lots of elbow room for up to five passengers; it’s a shame the driver’s seat doesn’t go low enough for everyone to sit in supreme comfort.

Swift and sure-footed, the Ioniq 5 comes with either a 58-kwh battery pack with single-motor rear-wheel drive, or a larger 77.4-kwh battery pack with single-motor rear-wheel-drive and 225 hp or dual-motor all-wheel-drive with 320 hp. It’s silent, of course, and strong enough to hit 60 mph in 5.0 seconds with the bigger pack and rear-wheel drive—and to hit 303 miles of EPA-rated range in its most efficient model. With its sharp steering and very absorbent ride, the Ioniq 5 hits a sweet spot in handling that masks its size without masking any of the excitement generated by its battery pack. 

Charging that pack from 10% to 80% can take as little as 18 minutes on a 350-kw DC fast-charger like those at Electrify America stations.

The IIHS dubs the Ioniq 5 a Top Safety Pick+, and all versions come with adaptive cruise control, automatic high-beam headlights, and active lane control. Blind-spot monitors and a surround-view camera system are options.

How much does the 2023 Hyundai Ioniq 5 cost?

Prices aren’t published yet for the 2023 version, but expect the base Ioniq 5 to cost about $41,000 before any tax credits or incentives. That gets you a hatchback with 

navigation, satellite radio, cloth upholstery, heated front seats, a sliding second-row seat, and a twin 12.3-inch digital display with Apple CarPlay and Android Auto. We like the SEL with its standard wireless smartphone charging, power tailgate, and synthetic leather upholstery, for under $50,000.

Where is the 2023 Hyundai Ioniq 5 made?

In South Korea. 

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