HomeNewsAutomobileHyundai Ioniq 5 launched at an introductory price of Rs 44.9 lakh

Hyundai Ioniq 5 launched at an introductory price of Rs 44.9 lakh

Hyundai is betting big on the likes of the Ioniq 5 EV to help establish a firm foothold in India’s burgeoning passenger EV market

January 11, 2023 / 13:58 IST
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The Ioniq 5 may not be Hyundai’s first attempt at making an electric vehicle (EV) but it certainly is the most significant one for various reasons.

Hyundai chose to make a grand unveiling outside the Gateway of India, bathing the neo-retro electric hatchback in neon lights as if to signal a new phase that the brand is entering the country. The price for the Ioniq 5 –  Hyundai’s flagship EV was announced starting at Rs 44.95 lakh. The car can be booked for a sum of Rs 1 lakh, via Hyundai’s website.

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With its launch at the 2023 Auto Expo, Hyundai is aiming for a sub-Rs 50 lakh price tag, for a car that finds a direct counterpart in the fully-imported Kia EV6 that was brought in at a price of Rs 59.96 lakh. Both the Kia EV6 and the Hyundai Ioniq 5 are based on the same E-GMP platform.

Hyundai’s journey towards becoming the country’s second-largest automotive manufacturer began on the back of the humble Hyundai Santro, a tall, mass-market hatchback challenging the monopoly of the Maruti 800 and the Maruti Zen. And although the brand went on to move up the premiumness ladder over the decades, with its bestsellers including the Hyundai Creta, it has, for the most part, been considered a mass market one.