Thailand: Hyundai launches local assembly of Ioniq 5
When Hyundai was importing the Ioniq 5 as a CBU from South Korea, it had set the price at 1.988 million baht (~€52,319). However, local assembly has helped it lower the price by 289,000 baht (~€7,606 euros) – approximately 15 per cent.
Hyundai is offering a 300,000 baht (~€7,895) discount to the first 400 customers of the locally assembled Ioniq 5, which brings the price down to 1.399 million baht (~€36,818). This translates to net savings of 589,000 baht (€15,501) or approximately 30 per cent compared to the price of the CBU version.
According to a previous media announcement, Hyundai planned to partner with Thonburi Automotive Assembly Plant (TAAP) for the assembly of EVs in Thailand. The Thailand Board of Investment (BOI) had approved Hyundai’s investments worth 1 billion baht for local assembly of EVs and their batteries. TAAP already serves as the local contract manufacturer for Mercedes- Benz and is likely now assembling Hyundai’s Ioniq 5 as well.
Thailand is the Ioniq 5’s seventh production site worldwide, joining South Korea, the United States, Singapore, Vietnam, Indonesia, and India. Hyundai offers the model in Thailand exclusively in the N Line variant, and it says Thailand is the only overseas production site for this configuration.
The company uses a single, rear mounted permanent magnet synchronous motor that produces 168kW and 350Nm of torque and an 84kWh NMC battery pack. The Thai-spec Ioniq 5 N Line can accelerate from 0 to 100km/h in 7.5 seconds, reach a top speed of 185km/h, and achieve a WLTP range of 530km.
Its battery pack takes 7.35 hours for a 10-100 per cent charging session via a 10.5kW AC charger. Using a 350kW DC charger, customers can charge it from 10 per cent to 80 per cent SoC in 18 minutes.
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