Ioniq 5 targets VW ID4, but also more upscale electric vehicles, says Hyundai executive

Hyundai is targeting the newly launched all-electric Ioniq 5 crossover as a direct competitor to the Volkswagen ID4, although the two vehicles are in different segments, said the automaker’s European chief, Michael Cole.

At the same time, he said, the Ioniq 5 could also appeal to buyers of high-end all-electric crossovers such as the Audi e-tron, Tesla Model Y and BMW iX3 because the positioning, competition and even prices are difficult to define in the rest. -development of the electric vehicle market.

“It feels like any electric vehicle is probably a competitor right now, on a reasonable scale,” said Cole, president and CEO of Hyundai Europe. Automotive News Europe.

Nevertheless, the ID4 remains the main target of the Ioniq 5, the first vehicle of Hyundai’s electric sub-brand.

“Hyundai is still a mainstream brand, and if you position yourself like that, you still have to look at who is the market leader; and VW will inevitably be your benchmark,” he said.

Hyundai’s hybrid and electric models used the Ioniq name, but last August the automaker announced the launch of a global electric battery sub-brand using the Ioniq name. Ioniq plans to release two more fully electric vehicles over the next three years.

Cole said Hyundai has no plans to upgrade Ioniq to premium or near premium status. Hyundai’s Genesis brand is already competing in these segments, although it is not yet available in Europe.

Hyundai describes the Ioniq 5 as a mid-size crossover, while VW views the ID4 as a compact. At 4,635 mm (182.5 inches), the Ioniq 5 is shorter than other midsize crossovers (the Audi e-tron is 4,901 mm long and the BMW iX3 4,734 mm long), but slightly longer than the ‘ID4, at 4585 mm.

Hyundai claims the Ioniq 5 has the interior space of a larger midsize vehicle, as its dedicated E-GMP EV platform allows for a longer wheelbase.

Pricing for the Ioniq 5 has not been announced. Coach The magazine reported that the price of a higher version launch edition, called Project 45, will be 45,000 pounds (53,200 euros or $ 63,450) in the UK. In comparison, the launch edition of the ID4 costs 49,950 euros, with a base model priced at 36,950 euros in Germany.

The Model Y starts at 58,620 euros, the e-tron starts at 71,900 euros and the iX3 at 69,950 euros.

The Project 45, which offers options such as a solar roof and 20-inch wheels, can be ordered in France, Germany, UK, Netherlands and Norway. Deliveries will begin in the second quarter.