The top-selling Hyundai EV is about to become even more attractive. Hyundai says the IONIQ 5 will be the first EV built at its new $7.6 billion EV and battery plant in Georgia, unlocking access to the $7,500 federal tax credit.
After selling nearly 34,000 IONIQ 5 models last year (+48% YOY) in the US, Hyundai’s top-selling EV has not slowed down this year.
Hyundai sold 3,361 IONIQ 5 models in March, a new record. Through the first three months of 2024, 6,822 IONIQ 5 models have been handed over to customers (+18% YOY), also a new record.
Although Hyundai’s second EV, the IONIQ 6, launched in the US last January, IONIQ 5 sales are still nearly double that of the electric sedan. Meanwhile, the electric SUV is still imported from Korea.
Hyundai’s global chief operating officer, Jose Munoz, said it’s a “no-brainer” for the IONIQ 5 to be the first EV built at its new EV and battery Metaplant in Georgia.
In an interview with Automotive News, Munoz said the IONIQ 5 “absolutely is the bestseller.” Munoz added, “So I think it is a no-brainer that it needs to be that one,” referring to Hyundai’s first EV to roll out of the Metaplant.
2024 Hyundai IONIQ 5 (Source: Hyundai)
Hyundai IONIQ 5 to gain $7,500 EV tax credit eligibility
The EV production line will be ready in October when Hyundai will begin assembling the IONIQ 5 in the US.
Although the battery unit will open about a year later, Munoz said the expectation is that the IONIQ 5 will gain eligibility for the $7,500 EV tax credit once assembly begins.
2024 Hyundai IONIQ 5 (Source: Hyundai)
While Hyundai waits for the battery portion to come online, it will source IONIQ 5 batteries from a factory in Hungary. “We needed the critical components of the battery, the materials of the battery and also the assembly with the proper sourcing,” Munoz explained.
Hyundai, like several automakers, is passing the $7,500 tax credit on for those leasing through a loophole in the Inflation Reduction Act.
2024 Hyundai IONIQ 5 trim
Starting Price (excluding destination fee)
Price after potential $7,500 EV tax credit (excluding destination fee)
Range (EPA est miles)
SE Standard Range
$41,800
$34,300
220
SE
$45,850
$38,350
RWD: 303 AWD: 260
SEL
$47,400
$39,900
RWD: 303 AWD: 260
Limited
$53,500
$46,000
RWD: 303 AWD: 260
D100
$59,400
$51,900
260
2024 Hyundai IONIQ 5 prices and trim options
However, that’s about to change this fall. “As of October, we’ll be able to do so as well with retail customers who pay cash or finance. That’s going to be good news,” Munoz said.
2024 Hyundai IONIQ 5 interior (Source: Hyundai)
The news comes after Kia announced its first three-row EV9 electric SUV rolled off the assembly line at its West Point, GA plant Thursday. Kia’s EV9 made history as the first EV assembled from start to finish in the Peach State.
Electrek’s Take
Hyundai already has some of the most affordable and fuel-efficient EVs. Hyundai’s electric models account for six of the top ten most fuel-efficient EVs in the US this year.
Starting at $41,800, the IONIQ 5 is one of the best deals on the market. With a $7,500 tax credit, the IONIQ 5 could be bought for as low as $34,300. That would be one of the most affordable electric options in the US.
It will be interesting to see how US production impacts Hyundai’s EV sales. In an exclusive interview with Electrek, Hyundai’s North American CEO told us the automaker is “humble and hungry” to separate itself from the competition (read the full interview here).
If you’re ready to see why Hyundai’s IONIQ 5 is already outpacing the competition, we can help you get started. You can use our link to find deals on the Hyundai IONIQ 5 at a dealer near you.
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss how Elon Musk killed Tesla Model 2, global EV sales surging, how Chinese EVs keep killing it, and more.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):
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Rad’s ‘jack-of-all-trades’ RadRunner 2 and RadRunner 3 Plus e-bikes provide utility with mobility at low prices from $999
Having begun back in February, and now continuing with Rad Power’s current Earth Day Sale running through April 23, the brand still has two of its three RadRunner series e-bikes down at the lowest prices in their history, while the RadRunner Plus model has run out of stock. Starting with the lowest priced, you can hop aboard the brand’s RadRunner 2 Utility e-bike for just $999 shipped, bringing costs down from its $1,499 post-2024 tariff pricing. Before this price cut began, things had only ever fallen as low as $1,199 before the summer of last year, with discounts following July only ever dropping to $1,299. But with this shake-up, you’ll score $500 off the going rate for as long as supplies last, gaining a versatile means to commute and run errands at the lowest price we have tracked.
Given the moniker of Rad’s “jack-of-all-trades” model, the RadRunner 2 is an affordable means to get around during commutes, joyrides, errand running, and more. I see them, and their counterparts in the series, parked outside my local grocery store frequently, as more and more folks in Brooklyn seem to be finding them as a solid alternative to owning a car. You’ll get up to 50 miles of travel here with its four PAS levels activated at up to 20 MPH top speeds with its combination of a 750W brushless gear hub motor and the 672Wh battery. Along with the simplified control panel for its riding settings, it also comes stocked with a rear-mounted cargo rack that offers a 120-pound payload, puncture-resistant fat tires, a standard LED headlight, and an integrated taillight with both brake light and flash mode capabilities.
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The upgraded RadRunner 3 Plus e-bike, meanwhile, is also still down at it’s newest all-time low of $1,699 shipped, brought down from $2,199. It sports the same 750W motor and 672Wh battery combination for achieving 45+ miles of travel through its five PAS levels at up to 20 MPH speeds. There are some notable differences here, like the Tektro hydraulic disc brakes that provide better stopping power (over the RadRunner 2’s mechanical ones), as well as a 350-pound payload (50 pounds more total), and a longer step-thru design for a more ergonomic riding position. There are also other features like puncture-resistant fat tires, fenders over both wheels, the LED headlight and brake-light capable integrated taillight (with the auto-on functionality), and LCD screen for settings.
EcoFlow’s latest flash sale gives you the multi-capable DELTA Pro 3 with four 125W solar panels at a new $2,999 low, more
As part of its ongoing Mega Sale through April 25, EcoFlow has launched the next round of its flash offers lasting through the rest of the day. The main deal here is the DELTA Pro 3 Portable Power Station bundled alongside four 125W solar panels for $2,999 shipped. Coming down off its usual $4,598 price tag, we’ve only ever seen discounts take it down as low as $3,199 before today. For the rest of the day, you can take advantage of this lower-than-ever pricing to score one of the brand’s newer solar generator packages at a 35% markdown, giving you $1,599 in savings at a new all-time low price. It even beats out Amazon, where it still sits $300 higher.
One of the brand’s newer models that has been quite popular since releasing back in June, the EcoFlow DELTA Pro 3 starts off with an already impressive 4,096Wh LiFePO4 battery capacity with a steady 4,000W of power output that surges up to 6,000W. It comes with some equally impressive expansion capabilities up to 48,000Wh with additional equipment, with its output also expanding up to 12,000W when three of these power stations are connected together, covering major home backup needs. Among the many units under the brand’s flag, this one offers the widest amount of ways to recharge its own battery, with seven solo options and 18 combination options. A standard wall outlet will have it back at an 80% battery in 50 minutes, while also offering other options like solar charging (with a max 2,600W input), EV, automotive auxiliary outlets, dual PV charging, and much more.
It’s been given 14 output ports, divided up amongst seven ACs, two USB-As, two USB-Cs, and three DCs, and offers up the complete array of smart controls accessed through the companion app to monitor and adjust settings as it keeps your devices and appliances running. It was the first unit to be given the latest X-Core 3.0 tech, expanding its surging capabilities and charging speeds while also running at quieter decibels and cooler temperatures, as well as improving upon the battery and smart home management, providing “explosion-proof” battery packs, and upgrading its parallel capacity expansion performance.
The second of today’s flash savings gives you the brand’s 800W Alternator Charger at $349 shipped, coming down from its regular $399 pricing during this sale and its full $599 rate. With this device, you’ll be able to recharge any power station you have via your car’s alternator, juicing the battery back up while on the move – which makes a perfect companion for those who may be taking their setups on the road.
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A lawsuit alleging that Tesla is inflating mileage to avoid warranty claims is already being compared to Dieselgate and referred to as ‘Tesla Odometergate.’
Is Tesla having its own Dieselgate, or is it a nothing burger?
A new class action lawsuit filed in California against Tesla alleges that the automaker is using “predictive algorithms” to inflate mileage at the odometers, allowing Tesla to claim higher mileage past warranty limits.
Lawyers for the plaintiff wrote in the lawsuit:
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Rather than relying on mechanical or electronic systems to measure distance, Plaintiff alleges on information and belief that Tesla Inc. employs an odometer system that utilizes predictive algorithms, energy consumption metrics, and driver behavior multipliers that manipulate and misrepresent the actual mileage travelled by Tesla Vehicles. In so doing, Defendants can, and do, accelerate the rate of depreciation of the value of Tesla Vehicles and also the expiration of Tesla Vehicle warranties to reduce or avoid responsibility for contractually required repairs as well as increase the purchase of its extended warranty policy.
The lawsuit refers to patents filed by Tesla regarding its mileage counter, but it primarily relies on the experience of its lead plaintiff.
Nyree Hinton, a data professional from Los Angeles, is the lead plaintiff in the lawsuit and shared his own experience that led to making these allegations.
In December 2022, Hinton purchased a used 2020 Tesla Model Y with 36,772 miles on the odometer. He received Tesla’s Basic Vehicle Limited Warranty, which covers repairs for four years or 50,000 miles, whichever comes first.
Shortly after, Hinton noticed that his vehicle’s mileage increased at an unexpected rate. Despite driving approximately 20 miles per day, based on his own estimate, the odometer indicated an average of over 72 miles per day. This rapid mileage accumulation led to the warranty expiring sooner than anticipated, resulting in Hinton incurring a $10,000 suspension repair bill that he believed should have been covered under the warranty otherwise.
Other than Hinton’s experience, the lawsuit is light on data, but it does cite other Tesla owners claiming to have similar experiences on forums and social media.
Here’s the full lawsuit:
Tesla’s own Dieselgate or a nothing burger
If the allegations in this lawsuit are factual, it would indeed be a significant scandal. However, it is light on proof.
Hinton appears to have closely tracked his own experience, and he has some credibility as a data analyst. We have no reason not to believe him, but the case would need a lot more evidence to move forward.
Electrek reached out to ‘Green’, a well-known Tesla hacker who frequently discovers new features and specifications in Tesla’s software and firmware.
He told us that he doubts Tesla would have been able to hide something like that from him and the broader whitehat hacking community, but he admits they weren’t looking for it.
Green believes that it is likely that Tesla uses predictive algorithms for its odometer, but it could be as simple as accounting for tire wear, since tire rotation is used to calculate odometer mileage.
Odometers are not perfect, and there can be some discrepancies, but the one described by the lead plaintiff in this case is undoubtedly higher than what would be expected or allowed.
Electrek’s Take
I think it’s too light on data and proof right now to make a big deal out of this. I have no reason not to believe Hinton, but it could also be a specific problem with his vehicle rather than a broader issue and active deception from Tesla.
If the lawsuit is allowed to proceed, we may gain more insight, and it could encourage others with similar experiences to join in – resulting in more data.
In the meantime, I’ll remain in the skeptical camp on this one.
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