Hyundai Motor Co., the South Korean automotive giant, has introduced the highly anticipated Ioniq 5 N, marking the inaugural all-electric model within its N brand. This strategic move underscores Hyundai's commitment to evolving into a prominent player in the realm of future mobility solutions.
The Ioniq 5 N, initially unveiled at the prestigious 2023 Goodwood Festival of Speed in Great Britain this past July, is equipped with an 84 kWh battery pack. It boasts impressive acceleration, capable of sprinting from zero to 100 kilometers per hour (kph) in just 3.4 seconds, as confirmed by the company's official statement.
What sets the Ioniq 5 N apart is its unique positioning as a driver-centric, high-performance electric vehicle (EV). Notably, it offers advanced cornering capabilities and racetrack performance while serving as an everyday sportscar.
Priced at 76 million won (approximately US$58,000) after factoring in individual consumption taxes and eco-friendly vehicle incentives, the Ioniq 5 N is a competitive offering in the market. It also showcases an impressive range, covering about 350 kilometers on a single charge, according to Hyundai's official statement.
The Ioniq 5 N leverages the electric global modular platform (E-GMP), a cornerstone of Hyundai Motor Group's dedicated EV technology. This platform is shared with other prominent models like the Ioniq 5 and Ioniq 6, with the Ioniq 7 slated for release next year. Additionally, Hyundai's independent luxury brand, Genesis, features the GV60 SUV, while affiliate Kia Corp. offers the EV6 and EV9 SUVs, all of which are built on the E-GMP platform.
As part of its ambitious strategy, Hyundai intends to invest a substantial 109.4 trillion won by 2032, positioning itself as a frontrunner in the global future mobility market. The company is also targeting the sale of one million pure electric vehicles by 2030.
To support these objectives, Hyundai is actively constructing its first dedicated EV factory, the Hyundai Motor Group Metaplant America, located in Georgia, the United States. This facility, with a projected annual production capacity of 300,000 units, is expected to commence operations in the latter half of 2024. Furthermore, an EV-dedicated plant in South Korea is in the works, with plans to commence production in 2025.
Hyundai Motor Co., known for popular models like the Sonata sedans and Santa Fe SUVs, markets vehicles under both the Hyundai and Genesis brands. Within the Hyundai brand, the N Line and N badges signify performance-oriented offerings, bridging the gap between standard models and the high-performance N brand. This diversified portfolio underscores Hyundai's commitment to providing a wide range of options for discerning customers in the rapidly evolving electric vehicle market.