2024 Hyundai Ioniq 5: updated EV is now even cheaper

• Larger batteries with longer range
• Subtle styling changes
• Prices start from £39,900

After three years on sale, the Hyundai Ioniq 5 has been given a thorough update, with some styling tweaks, new batteries and, importantly, a lower starting price. The entry-level model now starts from under £40,000 – that’s over £3,000 less than the outgoing car, despite a much improved range.

Along with changes to the existing Ioniq 5 lineup, Hyundai has introduced a new N Line trim, which slots in between the standard car and the high-performance Ioniq 5 N. This new model, and all other updated Ioniq 5s, are available to order now in the UK.

What’s new for the 2024 Hyundai Ioniq 5?

The headline change for 2024 – and probably the most important for EV buyers – is the bump in battery sizes. The entry-level Ioniq 5 is now fitted with a 63kWh battery, replacing the 58kWh of the outgoing car. Range has increased as a result, rising from 238 miles to 273 miles, giving the cheapest Ioniq 5 a competitive edge against the similarly-priced Renault Scenic and Volkswagen ID.4.

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Long Range models have seen an upgrade, too, with the 77kWh battery growing to 84kWh. Range for the rear-wheel drive Ioniq 5 fitted with this battery now stands at 354 miles, a healthy 39-mile improvement. That figure drops if you opt for the 321bhp all-wheel drive version, but it’ll still manage over 300 miles on a single charge.

Changes to the Ioniq 5’s boxy, angular bodywork are minimal, with a pair of new front and rear bumpers and longer rear spoiler added. There’s a new set of wheels, too, designed for aerodynamic efficiency. More importantly, Hyundai has improved the stiffness of the Ioniq 5’s body in an effort to boost stability and agility. Extra sound deadening around the rear motor should reduce cabin noise, as well.

You’ll need a keen eye to spot the interior changes to the Ioniq 5. The infotainment and driver’s displays run a ‘next-generation’ operating system and sit above a redesigned row of physical buttons. The steering wheel has been slightly changed but retains the four LED lights in the centre that indicate battery charge level. Hyundai has also changed the colour of the digital dashboard surround from white to black in an effort to minimise glare.

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What about the Ioniq 5 N Line?

Sitting above the regular Ioniq 5 but below the rapid Ioniq 5 N is the new N Line model. Changes are purely cosmetic, with more aggressive bumpers and a unique set of 20-inch wheels. The cabin gets some sporty styling touches, too, with sport seats, an N Line-specific steering wheel and red stitching for the upholstery. The N Line S model adds even more kit, packing everything you get with the Ultimate trim level, along with the optional ‘Tech pack’.

How much will the 2024 Ioniq 5 cost and when can I order one?

Defying our initial expectations, Hyundai has cut the starting price of the new Ioniq 5. The entry-level Standard Range model in Advance trim now costs from £39,990, narrowly avoiding the luxury car VED surcharge. The equivalent Long Range car costs £43,400, while upgrading from Advance to Premium trim adds £2,500 to the bill.

The new Ioniq 5 N Line is only available with the larger of the two battery packs, costing from £47,400. Top of the range is the Ioniq 5 N Line S with all-wheel drive – this model will cost you £55,900, or around £10,000 less than the full-fat Ioniq 5 N.

Order books are open now for all models in the UK. 

What does it mean for car buyers?

The electric car landscape has changed dramatically since the Hyundai Ioniq 5 was released in 2021. Family EVs with ranges of over 300 miles are now commonplace – just look at the new Renault Scenic – and newcomers from China are undercutting more established brands on price. The updates for the Hyundai Ioniq 5 come in response to these changes in the market, and should go some way to keep it competitive in the segment. While it’s neither the cheapest EV, nor the one with the longest range, we’re big fans of the Ioniq 5, and we can only see these upgrades bolstering its appeal.

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