The Hyundai Ioniq 5 has seen largely positive reviews worldwide since its launch and, as with most new EVs from legacy automakers, has been called a “Tesla killer” on more than one occasion.
The question is which Tesla model the Ioniq 5 targets, and the answer is not that simple. Judging by the fact that it’s a compact crossover, the Model Y would be its nemesis. However, with Tesla’s ever rising prices, the Ioniq 5 is now more comparable with the Tesla Model 3.
As this comparison review from Canada’s Everyday Reviews points out, the range-topping Ioniq 5 Top Trim AWD (Limited AWD in the US) costs 59,995 Canadian dollars (about $47,900) before incentives, while the entry-level Tesla Model 3 RWD starts at an almost identical 59,990 Canadian dollars ($47,900).
Now, in the US, the two EVs are priced a bit differently, with the Ioniq 5 Limited AWD starting at $50,600 compared to the Tesla Model 3 RWD’s $46,490 base MSRP. Still, the premise remains the same as a Model Y Long Range is much more expensive at $60,990.
If anything, this goes to show how competitively priced the Ioniq 5 is if its top trim costs the same as the base Tesla Model 3.
The video does a great job of highlighting the differences between the brand-new EV from Hyundai and the Model 3, one of the most popular electric vehicles in the world.
The styling of the Ioniq 5 inevitably comes up, and both the presenter and Model 3 owner agree that Hyundai has hit the nail on the head in this department. Interestingly, the situation is reversed inside, with the Tesla looking more futuristic thanks to its minimalist dash whereas the Hyundai appears more traditional.
The guys take turns driving both cars while talking to each other, so this video offers an interesting perspective for those who are in the market for a $50,000 EV. Probably the most exciting part of the video is when the Tesla owner gets into the Hyundai. He finds the Ioniq 5 to be amazing and says it ticks all the boxes for a perfect family car.
At the end of the day, the Hyundai offers more power, more room, all-wheel drive, faster charging, and more distinctive looks. For roughly the same price as a Model 3, the Ioniq 5 is really a no-brainer. Do you agree?