The EV price war continues apace with new models now regularly breaking the $50k and $40k barriers, leaving other manufacturers scrambling to catch up in order to avoid losing sales volume to the newcomers.
Hyundai is the latest to move – again – and have just announced new pricing for their Ioniq 5 and Kona Electric SUVs, along with a new Kona Electric variant (‘Elite’ version) that slots in-between the existing Kona Electric and Kona Electric Premium.
This brings it more into line with the fossil-fuelled Kona range.
The Kona Electric Standard Range now opens at $46,000, with the new Elite variant priced from $53,000 (both prices are before the dreaded ORCs, or ‘on-road-costs’*).
The Ioniq 5 range now begins at $68,200 (plus ORCs). The IONIQ 5 Premium N Line variant also now includes leather sport seats with N logos (replacing the previous suede seats).
Hyundai Ioniq 5
These changes however do not come without a few slight stings-in-the-tail. For both, the portable charger that used to come standard with both models has now been deleted, as have their interior 230V 3-pin vehicle to load (V2L) outlets.
On top of these, the Kona has a had a few more feature downgrades to bring it in at the lower price. The biggest surprise perhaps is the removal of the heat-pump and a return to the 2019-23 OS model’s much less efficient resistive element heater system.
This could decrease the potential driving range by up to around 10% if using the heater a lot. Given one of the major upgrades in the step-change from the OS to the SX model was fitting a heat-pump as standard, this does seem an odd move. Gone too in the Kona is the electrochromic rear vision mirror with a switch back to a manually operated one.
The revised Kona Electric and Ioniq 5 ranges are available to order now, with arrival into dealerships commencing from June.
New pricing for Hyundai Ioniq 5 and Kona Electric
* Note: Hyundai are currently offering limited time ‘drive-away’ offers for the Kona Electric close to these prices from June 1 to June 30
See The Driven’s detailed EV sales data here: Australian electric vehicle sales by month in 2026; by model and by brand.
Sign up for The Driven’s free daily newsletter and get the latest EV news and analysis delivered straight to your inbox.
Bryce Gaton is an expert on electric vehicles and contributor for The Driven and Renew Economy. He has been working in the EV sector since 2008 and is currently working as EV electrical safety trainer/supervisor for the University of Melbourne. He also provides support for the EV Transition to business, government and the public through his EV Transition consultancy EVchoice.