Hyundai will locally assemble IONIQ 5 EV for India
What's the story
Hyundai plans to assemble the IONIQ 5 EV in India in a bid to gain from the cost benefits of the CKD (completely knocked down) route. CKD Cars attract just 15% customs duty as compared to up to 100% on CBU (completely built-up) cars. This move by the South Korean automaker will allow it to price the IONIQ 5 competitively in the country.
Context
Why does this story matter?
With plans to assemble IONIQ 5 in India, Hyundai will not only undercut rivals like Volvo but also its sister brand Kia, which is set to launch the EV6 here in June. However, Kia will import the car and hence, only 100 units have been allotted. Hyundai has also partnered with Tata Power to grow the network of charging stations across India.
Exteriors
The EV gets a raked windshield and designer alloy wheels
The Hyundai IONIQ 5 features a clean design language with lots of flat surfaces, a highly-raked windshield, LED headlights with squared-out DRLs, and a black band in place of a grille. On the sides, it is flanked by indicator-mounted ORVMs and designer wheels. A shark fin antenna, a roof-mounted spoiler, and LED taillights grace the rear side of the vehicle.
Information
It is offered with two battery pack options
The Hyundai IONIQ 5 gets two battery pack options: 58kWh and 72.6kWh, linked to a single electric motor. The EV can be charged from 10-80% in 18 minutes via a fast charger and delivers a driving range of up to 481km on a single charge.
Interiors
The car features Bose sound system and Level-2 autonomous driving
The Hyundai IONIQ 5 offers a spacious 5-seater cabin made of sustainable materials with automatic climate control, 8-way power-adjustable seats, and a multifunctional steering wheel. It also packs dual 12.25-inch screens for the instrument cluster and touchscreen infotainment panel, along with BOSE sound system. Passengers' safety is ensured by Level-2 autonomous driving support, a 360-degree-view camera, and seven airbags.
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Hyundai IONIQ 5: Pricing and availability
In India, the pricing and availability details of the IONIQ 5 will be revealed at the time of launch. However, we expect the EV to be priced under Rs. 50 lakh (ex-showroom), considering that Hyundai is bringing it via the CKD route.