Hyundai Ioniq 5 will be introduced in the coming months in India; will be brought in via CKD route and thus competitive pricing possible
Hyundai Motor India Limited (HMIL) confirmed a few weeks ago that the Ioniq 5 would be launched in India later this year. We do expect the new generation Tucson to arrive first before the debut of the Ioniq 5 around this festive season. The Hyundai Ioniq 5 is the 2022 World Car of the Year and it has several commonalities with the recently launched Kia EV6.
The Kia EV6 is currently priced at Rs. 59.95 lakh for the GT Line RWD and Rs 64.95 lakh for the GT Line AWD trims (ex-showroom) and its deliveries will commence from September 2022 onwards. At the time of its launch, Kia said that more than 300 reservations had been made and the electric crossover is brought into the country via CBU route.
This puts it closer to the well-acclaimed BMW i4 eDrive40. In a similar fashion to the Kia EV6, the 2022 European Car of the Year, the Hyundai Ioniq 5 has gained high popularity in the international markets. However, it will likely be launched via CKD channel and thus locally assembly will help in pricing its competitively against its sibling – likely below Rs. 50 lakh mark (ex-showroom).
The main reason is that the full imports attract similar custom duties as the regular ICE cars whereas the vehicles via CKD route will only attract 15 per cent taxes. Its impact on the deliveries will have to be waited and seen as Hyundai already has high global demand for the Ioniq 5 amidst supply chain constraints and setting up a local assembly line will add to the tasks.
In the global markets, the Ioniq 5 is offered in 58 kWh and 72.6 kWh Li-ion battery packs with the former developing 169 hp and the latter either 217 hp or 306 hp depending on motor setup. All the variants of the Ioniq 5 come with high-end safety, assistive, entertainment and connectivity-based features.
Hyundai recently upgraded the battery pack to 77.4 kWh as well abroad and our local market could get the base 58 kWh battery pack capable of kicking out a maximum power output of 169 hp. It is claimed to have a driving range of around 384 km on a single charge in the WLTP cycle.