Hyundai has finally announced the price tag of its most powerful EV model IONIQ 5 for Taiwan. Available in three variations, the entry model will cost only NT$1.45 million, and it comes with a competitive driving range of 438km.

The official prices in Taiwan for the flagship EV IONIQ 5 of Hyundai have been announced today, where the entry model is set at NT$1.45 million, while the mid-end model is priced at NT$1.69 million, and the high-end model will cost NT$1.89 million, making it a formidable competitor to Tesla’s Model 3.

There have been ceaseless discussions on IONIQ 5 since it was announced at the end of last year to be entering the Taiwanese market, as it is an EV that competes with Tesla in terms of prices and specifications, and possesses competitiveness in the Taiwanese market where fewer EV models are available under higher price tags.

EV400 is priced at below NT$1.5 million, and it comes with a 58kWh battery unit and 169 horsepower, as well as an official driving range of 438km. The vehicle is adopted with level 2 assisted driving, inductive electric tailgate, and remote access on opening and closing. The functions that come with the vehicle are rather impressive, and have outshone Leaf.

The mid-end EV500 should be the major model among the three announced variations. EV500 comes with 567km of driving range, 217 horsepower, as well as rear wheel driving. The vehicle is also added with smart parking and assisted functions on blind spots and panoramic images, alongside upgraded electric and heated seats. Priced at NT$1.69 million, EV500 is now officially competing with Model 3.

Designs are differentiated based on the same price level, though IONIQ 5 excels in interior designs and driving range, while Model 3 is advantageous in acceleration and assisted driving functions, with the two somewhat equal at logistics and maintenance. Tesla is also better than Hyundai at having numerous Superchargers.

To compensate for this shortcoming, general agency Nan Yang Industries is now offering a free household charging pile, and 2 years of free fast-charging service, and early preorders will also receive a V2L external power adapter that allows transmittance of power from the vehicle to other equipment.

120 units of Hyundai IONIQ 5 have been confirmed for Taiwan this year, and the company may grasp on excellent commercial opportunities if it is able to deliver all of them this year. It is going to be quite difficult for the vehicle to sell well if the lead-time gets extended.

 (Cover photo source: Hyundai)