It goes on sale in September 2021, with prices starting at $71,900 before on-road costs.

There’ll be an initial allocation of only 400 units, and Hyundai says this limited supply but high demand led to the new direct-to-customer sales model.

The company will introduce additional trim levels at a later date.

Customers will order and buy their Ioniq 5 online. Those who have already placed a deposit with a dealership over the past eight months will have first priority to secure a vehicle during the initial online ordering period, which opens on September 27.

From October 12, anybody who has placed an expression of interest will get 24 hours of early access to order a vehicle before online ordering opens to the general public.

A $2000 deposit is required to order a vehicle.

Hyundai says it has received more than 120 deposits through its dealerships over the last eight months plus 11,000 expressions of interest, which it says is unprecedented for one of its cars.

The company hasn’t announced plans to extend its direct-sales model to other vehicles.

Once the initial allocation is exhausted, Hyundai will still take expressions of interest and will remain in contact with these customers.

Ioniq 5 after-sales support and servicing will be available for all 32 of Hyundai’s ‘BlueDrive’ dealerships in Australia.

The Ioniq 5 will be available in 160kW single-motor rear-wheel drive and 225kW dual-motor all-wheel drive variants, both with the same level of specification and a 72.6kWh lithium-ion battery.

It has 400V and 800V charging capability, plus a vehicle-to-load (V2L) function that allows you to provide up to 3.6kW of power to charge devices like electric bikes, scooters and even other electric vehicles using the supplied V2L adapter.

The Ioniq 5 is left wanting for little when it comes to standard equipment.

Until other trim levels arrive, all Ioniq 5 models will come standard with 12-way power front seats with ‘zero gravity’ mode, plus two-way power rear seats.

All seats feature memory and are finished in ‘sustainable eco-processed leather’.

There’s also a glass roof, heated and ventilated front seats, heated rear seats, a power tailgate and 20-inch alloy wheels.

The cabin features a sliding ‘universal island’ centre console that can be slid fore and aft by up to 140mm, plus slimmer front seats to maximise packaging efficiency.

The interior features seats, headliner, door trim, carpets and armrests manufactured using recycled PET bottles, plant-based and natural wool yarns, bio paint with plant extracts and biodegradable and recyclable paperette inserts.

  • 2022 Hyundai Ioniq 5 2WD: $71,900
  • 2022 Hyundai Ioniq 5 AWD: $75,900

All prices exclude on-road costs.