Government subsidies for Hyundai Motor Company’s IONIQ 5 have been confirmed. According to the Ministry of Environment’s EV website, the IONIQ 5 partial modification national subsidy will receive a 100% electric vehicle subsidy in 2024, which has been revised to a maximum of 6.5 million won depending on the trim. In addition to local government subsidies, the exclusive trim can be purchased for around 33 million won in some regions.
The price of the partial change to the IONIQ 5 was frozen even though it was equipped with new specifications such as a battery with an increased capacity of 84kWh from the existing 77.4kWh, the next-generation infotainment system ccNC, airbags 8 for the 2nd row sides, and a rear wiper. The Long Range E-Light is 52.4 million won, the Exclusive is 54.1 million won, and the Prestige is 58.85 million won.
The government subsidy for partial modification of the Ioniq 5 was set at 6.5 million won for 2WD long range 19-inch wheels and 6.43 million won for 2WD long range 20-inch wheels. For reference, the government subsidy for electric vehicles in 2024 will be up to 6.5 million won depending on the price under 55 million won, the driving distance per full charge, A/S capability, and battery energy density, etc. according to the reform.
The subsidy for partial modification of Ioniq 5, which includes the government subsidy and local government subsidy, is up to 8 million won based on the Seoul Metropolitan Government. In the case of Geochang-gun, where local government subsidies are set at the highest level, the national subsidy and local government subsidies combined amount to a maximum of 17.9 million won. The actual purchase price of the new IONIQ 5 Exclusive is lowered to 33.5 million won.
Meanwhile, the new IONIQ 5’s driving distance on a single full charge is 485km when combined with 19-inch wheels, 2WD, and without a built-in cam, and 478km when the built-in cam is selected. Compared to the previous model, it increased by 27km and 28km, respectively. The four-wheel drive driving range has improved by up to 38 km to a maximum of 451 km. The 58kWh standard battery has been discontinued.
