After the launch, Hyundai Ioniq 5 EV will be cheaper than the KIA EV6. Hyundai will locally assemble the upcoming electric car to keep the costs down.
Hyundai Motors is soon going to launch its much-awaited electric car in India. The upcoming Hyundai Ioniq 5 EV will become the flagship electric car for the company. While the launch nears, Hyundai made the statement that it'll bring the car through CKD (completely knocked down) route. This equates that the upcoming car will be marginally cheap than its sister rival the KIA EV6.
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Hyundai Ioniq 5 EV Launch & Price
The taxation policies of the Indian government do not allow many manufacturers to launch their flagship models. Toyota has already complained about this issue in the past. The import tax is 60 percent of the total value of the vehicle brought as CBU (completely built unit). This tax is further reduced to 30 percent if the vehicle comes via SKD (semi-knocked down) unit. But, if a manufacturer imports the vehicle as CKD the tax resides at just 15 percent.
Hyundai has decided to make use of this taxation policy and bring the Ioniq 5 via the CKD. Globally, the Ioniq 5 & KIA EV6 sell at or around the price tag of Rs 60 lakhs. As the launch is nearing, the anticipation of price for India is also the same for both cars. Now, with the CKD route, Hyundai will easily be able to push the KIA subsidiary as a premium brand. This can mean that the KIA EV6 will be positioned as more premium than the Ioniq 5.
While KIA plans to launch the EV6 by next month, Hyundai Ioniq 5 will launch a month or two later. The CKD route means that the pricing for the Ioniq will hover around Rs 50 lakhs. Although, Hyundai has cleared that the deliveries for the Ioniq will begin by the start of 2023.
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Hyundai Ioniq 5 vs KIA EV6
Both the Ioniq 5 & EV6 are based on Hyundai's e-GMP platform. This modular platform helps use the base of the chassis as battery positioning as well. This leads to more space utilization as well as better efficiency. As major components are shared; both cars are similar mostly. The only differences are in terms of equipment lists and styling.
Hyundai will offer a 58kWh battery pack in India that produces 169 hp of peak power. This battery pack is one of the three options offered globally. Hyundai also sells the Ioniq with a 72.6kWh (217/306 hp) battery pack. Recently, the company added a new bigger battery of 77.4kWh for more power and driving range, internationally.
Tell us by commenting down your thoughts about the upcoming Hyundai EV in India.
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