Hyundai’s 2022 Ioniq 5 is a smash hit. There have been over 40,000 pre-orders placed for Hyundai’s first all-electric vehicle. Over 24,000 orders were placed in South Korea for the Ioniq 5 the day it was first shown to the public. Even the 3,000 limited-edition “Project 45” launch model for Europe sold out almost instantly. So what problems could Hyundai have?
Hyundai expected it would produce 10,000 Ioniq 5 EVs each month
Hyundai expected it would produce 10,000 units each month. Now it will be lucky to produce 2,500 a month. What’s going on? There have been a number of problems with Ioniq 5 production.
The first problem was at the Ulsan, South Korea, plant where it is assembled. Workers there threatened to go on strike. Right after this threat, the semiconductor chip shortage hit, which has significantly slowed down production. The first production was slowed down. Now the plant is slated to shut down from April 7-14 according to the Korean Car Blog.
Then parts shortages started to happen. Production of the Ioniq 5’s electric motors and camera system which comes from the Kona has been troubled. This is unrelated to the chip shortage. So the problems keep piling up.
We’re not sure whether Hyundai expected this type of reception to the Ioniq 5
We don’t know whether Hyundai expected this type of reception to the Ioniq 5 or not? We know that it did not anticipate the production issues that have cropped up. Right now US pricing hasn’t even been determined. As EVs become more complicated and as the range is expected to climb, more components are involved. Also, more weight is baked into the platform.
It seems that there have been issues with these newer EVs getting out of the gate. Nothing could have been done about the chip shortages. But certain manufacturers producing components for different manufacturer’s EV systems have had trouble ramping up production.
The Ioniq 5s optional 72.6-kWh battery gives 301 hp with 466 lb-ft of torque
The Ioniq 5 will come with either a single rear motor or dual-motor system, which gives it all-wheel-drive. The optional 72.6-kWh battery gives it 301 hp with 466 lb-ft of torque. The zero-to-60 time is 5.2 seconds. The top speed is 115 mph. The single motor option is more economical. With it, the range is slightly under 300 miles.
Hyundai has a hit on its hands. Everything from the design to features and specs has been met with a lot of interest. Hopefully, these initial problems will be short-lived and it can ramp up production to meet demand.