Hyundai Ioniq 5 pricing starts at $39,700

The Ioniq 5 is Hyundai’s first electric car built on the company’s new E-GMP platform, and its price tag has finally been confirmed. A press release from Hyundai reveals that the Ioniq 5 could set you back anywhere from $39,700 to $54,500, depending on which model you choose (via EV Pulse).

And although Hyundai recently announced the Ioniq 5 has an EPA-rated range of 300 miles, that range is only available with select models (which we’ll go over here). It’s also important to note that the prices listed here don’t include the vehicle’s $1,225 destination charge.

In total, there are seven different variations of the Ioniq 5, and three trim packages: the SE, SEL, and Limited. The base SE Standard Range is the cheapest of the bunch, as it comes with a 168 horsepower (HP) rear motor, and a 58kWh battery that’s estimated to last 220 miles on a full charge. This model is set to become available sometime in the spring of next year.

The rest of the lineup comes with a larger, 77.4kWh battery, and your choice between rear-wheel drive (RWD) and all-wheel drive (AWD) drivetrains. The AWD versions are more expensive and come with dual motors, as well as have 320HP and an EPA estimated range of 256 miles. On the other hand, the RWD versions have 225HP and are expected to last 303 miles on a single charge.

The mid-range Ioniq SE costs $43,650 for the RWD version and $47,150 for its AWD counterpart. Meanwhile, the SEL has a $45,900 price tag for the RWD variant and $49,400 for the AWD model. On the higher end of the scale, the Ioniq Limited RWD will cost you $50,600, while the AWD version is priced at $54,500. Unlike the SE Standard Range, the rest of these models should be available later this month.

Despite the difference in prices, all trims still come with 350kW DC fast charging, along with a “vehicle-to-load” system, which lets you charge electronics, power small appliances, as well as juice up other EVs. It’s also important to keep in mind that you may be able to receive up to $7,500 in tax credit after purchasing an Ioniq, making its price even lower.