Why the New Hyundai Ioniq 5 N Is a Pivotal Model for the Future of the Company
Over the last several years, Hyundai has established itself as a strong contender in the EV segment. Now, it seems like Hyundai is ready to break new ground with the release of its all-new high-performance EV, the Ioniq 5 N.
The release of the N and the consumer perception toward this hot hatch will be pivotal for the company’s future. Here’s a look at the Ioniq 5 N and its place in Hyundai’s growing EV lineup.
Hyundai recently revealed the Ioniq 5 N
Hyundai’s first high-performance electric production car is here in the form of the Ioniq 5 N. The world is already familiar with Hyundai’s all-electric Ioniq 5, which was released in 2022. It’s an impressive machine and even won Car and Driver’s first-ever “EV of the Year” award in 2022. However, the Ioniq 5 N is out of this world. Essentially, the N model is an Ioniq 5 on steroids.
According to Car and Driver, the baseline 2024 Ioniq 5 trim features a single motor, an RWD drivetrain and produces 168 hp. The highest horsepower produced on one of the 2024 Ioniq 5 trims is 320 hp. In contrast, the Ioniq 5 N produces a whopping 641 hp when the N Grin Boost feature is utilized.
However, without the N Grin Boost feature in place, the Ioniq 5 N produces 601 hp. It’s an impressive beast of an EV, but that doesn’t mean consumers are ready to handle what the Ioniq 5 N has to offer.
Is there space for a performance-focused EV?
Being Hyundai’s first stab at a performance-focused EV, the Ioniq 5 N has a big job ahead of itself. Undoubtedly, the Ioniq 5 N is a pivotal model as it sets the stage for the performance-focused EV market. If the N does not perform well with consumers, it might mean it’s a one-and-done for Hyundai when it comes to its performance-focused EV line.
According to Hyundai, the N was first revealed to the public at the Goodwood Festival of Speed held in West Sussex, England, from July 13, 2023, to July 16, 2023. Therefore, it’s simply too early to tell what consumer perception will be around the 2024 Ioniq 5 N.
However, if the N isn’t able to put up big sales numbers in the upcoming quarters, Hyundai will likely have a hard time moving forward with any other potential high-performance EVs it may have in the works.
What can consumers expect from the Ioniq 5 N
According to Hyundai, the first-ever 2025 Ioniq 5 N will be ready for consumers to enjoy in 2024. While the South Korean manufacturer has yet to release an MSRP for the upcoming Ioniq 5 N, Car and Driver estimates that the starting price will be around $63,000 for this hot hatch.
Of course, this is considerably more expensive than the baseline 2024 Ioniq 5 SE, which starts closer to $43,000. However, with the power and performance the N provides, the price point seems quite justified.
All Ioniq 5 N’s will come standard with a dual motor and an AWD configuration. The vehicle will be equipped with four different drive modes, including Eco, Normal, Sport, and N. To replicate the feel of a shift, Hyundai has also programmed the N with simulated gearshift features, which can be turned on or off based on the user’s preference.
For drivers wanting an all-electric vehicle that is designed with power and performance top of mind, the Ioniq 5 N is sure to deliver.