3 Reasons the 2023 Ford Mustang Mach-E Is Still a Threat to the Hyundai Ioniq 5

The Ford Mustang Mach-E may not be getting as much attention as it received when it first debuted, but the small electric SUV still deserves some spotlight. The Hyundai Ioniq 5 has become a fan favorite, especially after winning the World Car of the Year award. Here’s why the 2023 Ford Mustang Mach-E is still a formidable opponent for Hyundai’s popular small electric SUV.

The 2023 Ford Mustang Mach-E outperforms the Hyundai Ioniq 5

A white 2023 Ford Mustang Mach-E small electric SUV is parked outside.
The 2023 Ford Mustang Mach-E | Ford

Performance may take a back seat to practicality for many drivers, but that doesn’t mean that there isn’t a market for high-performance electric vehicles. In fact, several automakers are producing electric vehicle nameplates that appeal to drivers with a need for speed.

The Ford Mustang Mach-E was one of the first-ever small electric SUVs with exciting performance specs, and that won’t soon be forgotten. From a value perspective, it’s hard to argue that the Mach-E is the better buy over the Hyundai Ioniq 5. That being said, from a performance standpoint, the Blue Oval’s small electric SUV is the more exciting model. The GT Performance Edition is a perfect example of the electrifying excitement that the Mach-E brings to the table.

The 2023 Ford Mustang Mach-E GT Performance Edition can go from 0-60 miles per hour in 3.8 seconds. It makes a monstrous 480 horsepower and 634 lb-ft of torque. According to MotorTrend, the quickest Hyundai Ioniq 5 configuration goes from 0-60 in about 4.4 seconds. While that’s far from slow, it can’t keep up with the quickest Mach-E trim. The Hyundai Ioniq 5 Limited AWD makes 320 horsepower and 446 lb-ft of torque.

Ford’s ‘muscle SUV’ predictably packs in the ponies, and that’s enough of a reason for some consumers to choose the Mach-E over the Ioniq 5. The GT Performance Edition isn’t the only edge that the Mach-E has over the South Korean small electric SUV.

The Ford Mustang Mach-E has a historic ancestor

A white 2023 Ford Mustang Mach-E small electric SUV is driving on the road.
The 2023 Ford Mustang Mach-E | Ford

It’s clear that Ford’s small electric SUV is a one-of-a-kind, but it has Mustang characteristics baked into its design language. The idea behind the creation of the Mach-E nameplate was to bridge the gap for many consumers who were apprehensive about EVs and the electric future. Like the Ford F-150 Lightning, the Blue Oval’s electric SUV has proven that it’s staying true to its heritage (from a performance standpoint).

When you choose a Mach-E, you’re still getting all the American muscle and style that comes with a Ford Mustang. The Ioniq 5 is building its own reputation, unrelated to any gas-powered Hyundai models on the market. Some consumers may question the reliability of a nameplate with no clear impactful ancestor.

The Mach-E is more likely to qualify for incentives than the Ioniq 5

The federal electric vehicle tax incentive has become pretty confusing. The Inflation Reduction Act of 2022 had some great EV benefits baked into it (for applicable vehicles). The Mach-E, unlike the Ioniq 5, is manufactured in North America. As a result, the 2022 Mustang Mach-E should be eligible for the full tax incentive of $7,500 based on information from the U.S. Department of Energy.

The 2023 Ford Mustang will likely be eligible for some partial incentive since its final assembly is in North America. The 2022 Hyundai Ioniq 5 was able to benefit from the EV tax incentive, but that won’t be the case for the new model year.

Ford’s small electric SUV may not be the undisputed best vehicle in its segment, but it’s still in the conversation. It’s easy to see why some drivers will choose it over the Hyundai Ioniq 5.