2024 Hyundai Ioniq 5 N review

This new electric car has more power than a Nissan GT-R, accelerates from 0–100km/h as quickly as a Ferrari 458, simulates a petrol car with fake engine sounds and gear shifts, can complete multiple laps of Germany’s Nurburgring racetrack without power degradation, and at about $111,000, is half the price of a Porsche Taycan 4S.

Oh, and it’s a Hyundai.

The Ioniq 5 N represents a new era for the South Korean car maker, and its high-performance division, which in seven years has built its reputation on fast and fun petrol-powered hot hatchbacks priced from $35,000 to $50,000.

It is one of the most-hyped electric vehicles in recent times, and is the most credible attempt yet at building an electric car that can appeal to the emotions of petrol performance-car fans. Does it succeed?

There is one variant of the Hyundai Ioniq 5 N priced from $110,383 plus on-road costs.

It is by some margin the most expensive Hyundai ever sold in Australia – in second place is the 2025 Ioniq 5 Epiq N Line AWD at $91,300, a significant $19,083 cheaper than the flagship N.

There are just two optional extras – a glass ‘Vision Roof’ for $4000, and matte paint for $1000.

Our test vehicle lacks the sunroof, but wears Performance Blue matte paint – bringing the price to $111,383 plus on-road costs, or $126,249 drive-away in New South Wales, according to the Hyundai Australia website.

Its most direct rivals are other high-performance electric hatchbacks and SUVs, from its twin under the skin, the $99,590 Kia EV6 GT, to the $97,990 Ford Mustang Mach-E GT, $82,900 Tesla Model Y Performance and, although not an SUV, a $133,900 BMW i4 M50 or just-updated $80,900 Tesla Model 3 Performance (all before on-road costs).

None of these cars can match the performance of the Ioniq 5 N, nor the suite of features designed to make it more capable on a racetrack, and more appealing to an old-school car enthusiast than any previous electric vehicle.

About $110,000 in a German luxury-car showroom can buy you metal from a $95,715 Audi RS3 Sportback and $121,000 Mercedes-AMG A45 S, to a $114,900 BMW M340i – all cars with differing approaches, but generally less performance than this electric Hyundai.

Standard equipment in the Ioniq 5 N includes LED headlights, a power tailgate, Alcantara and leather seat upholstery, heated and ventilated front sports bucket seats with manual adjustment, dual 12.3-inch screens with wireless Apple CarPlay and Android Auto, head-up display, eight-speaker Bose stereo, and a suite of safety technology.

Features intended to make the car accelerate, turn or stop faster than a regular Ioniq 5 include 21-inch alloy wheels with 275/35 Pirelli P Zero HN tyres, 400mm front and 360mm rear brake discs, and adaptive suspension.

There's also an electronically controlled limited-slip rear differential, upgraded battery cooling systems, and a dizzying array of software features, including fake engine noises, simulated gear shifts and a drift mode.

The upgrades for the N version of the Ioniq 5 are not just under the skin.

The sliding centre console of the regular model has been replaced by a fixed unit, with knee pads to support the driver during fast driving, and space on top for an easy-to-reach wireless phone charging pad, three USB-C ports, a 12-volt socket, and a slot for the key fob or pens.

The steering wheel is a chunky, heated and perforated leather-trimmed design unique to the N that feels great in the hand, and has an array of buttons for the usual cruise control and media functions, plus switches for two N-mode presets, N Grin Boost, and the regular three drive modes.

Hyundai’s i30 N hot hatch has lent its front sports seats, which are only manually adjustable – unusual for a $120,000 car – but are trimmed in leather and Alcantara, and provide excellent support without compromising comfort.

They’re heated and ventilated in the Ioniq 5 N, and the seat can be set lower than a standard Ioniq 5 for a sportier feel behind the wheel.

There is dual-zone climate control – managed via a touch-sensitive panel, which is fiddlier to use on the move than conventional dials and switches – and keyless entry with push-button start, plus plenty of blue highlights around the cabin, including contrast stitching.

A number of surfaces in the cabin have a leather-like wrapping, but most have hard plastic under them – and in general the touchpoints in the Ioniq 5 N don’t really feel as plush as a $125,000 drive-away car ought to.

The centre console armrest is soft and slides forward for long-armed drivers, but it is not damped, so it bounces back off the end of the hinges’ travel when it is opened quickly.

One particularly stingy example of cost-cutting is the lack of one-touch functionality for the rear windows, rather only the fronts. If a $30,000 Volkswagen Polo can have this feature, there is no excuse for its absence in a $125,000 Hyundai electric car.

The storage box under the front-centre armrest is tiny – my sunglasses case could only fit diagonally, alongside a small wallet – and while the glovebox is relatively large, the door bins could be a touch bigger. There are two cupholders in a large open area between the seats.

Space in the rear is accommodating for tall passengers – with tons of leg room and good head room – but under-seat toe room is minimal with the front seats set low, and as with most electric cars, under-thigh support is compromised due to the battery pack under the flat floor.

Rear amenities include air vents in the pillars, a fold-down armrest, storage pockets in the doors, two USB-C ports, three top-tether points, two ISOFIX anchors, and handy sunshades on the rear-side windows – but there are no map pockets due to the N front sports seats.

A vehicle-to-load socket on the rear-seat bench allows owners to power small electrical devices from the car’s battery. The 480-litre boot is 80L smaller than a standard Ioniq 5, and N-specific components under the bonnet mean there is no front storage area either, but the main cargo area is still relatively roomy. The floor is high, with limited storage underneath for cables – and no spare tyre, as with most electric vehicles.

The Ioniq 5 N has the same 12.3-inch touchscreen as the regular model, but it is the first Ioniq-badged Hyundai with the company’s latest ‘ccNC’ software.

It is quicker to respond than previous infotainment systems from the car giant, the graphics are more contemporary, and cars with embedded satellite navigation – such as this one – finally have wireless Apple CarPlay, in addition to wireless Android Auto, and AM/FM/DAB+ digital radio.

There is a dedicated N section with menus for customising the drive modes, switching on the artificial driving sounds, activating the various racetrack software systems, and showing driving data such as g-force.

The level of customisation is dizzying – and distracting, if you try to change a parameter on the road, even something as simple as switching between the three synthetic driving sounds – but we’d rather have it available than not, and most owners are likely to set up their Custom modes and stick to using the N buttons on the steering wheel.

Ahead of the driver is a 12.3-inch digital instrument cluster with quick responses, and a sporty N view featuring a central ‘tachometer’ flanked by battery and motor temperature read-outs. There is no option to show a full-screen map, and customisation outside of N mode is relatively limited.

There’s also a head-up display projected onto the windscreen with Normal and Sport views.

The eight-speaker Bose sound system delivers above-average punch, but audiophiles looking to drive fast in an electric car with their music blaring will prefer the in-house-designed stereo of a Tesla Model Y Performance.

Hyundai offers support for a Bluelink smartphone app, allowing drivers to unlock the car remotely, check its location, pre-heat the cabin, and other functions.

The regular Hyundai Ioniq 5 range is covered by a five-star ANCAP safety rating, based on testing conducted by European sister organisation Euro NCAP in 2021.

However, this rating does not cover the N variant.

Likely among the reasons why it does not apply: the Ioniq 5 N has front sports bucket seats that do not accommodate the centre airbag of the standard model, which inflates out of one of the front seats to prevent occupants clashing heads in a severe side-impact crash.

The Hyundai Ioniq 5 N is equipped with all the latest advanced safety technologies the South Korean car giant has at its disposal, as well as six airbags – lacking the front-centre airbag of other models in the Ioniq 5 range, as well as any knee protection.

The Ioniq 5 N was the first Hyundai in Australia to be fitted with Highway Driving Assist 2, the brand’s latest semi-autonomous driving system that combines adaptive cruise control and lane-centring assist like its predecessors, but is now capable of assisted lane changes.

It is a well-calibrated system, and the assisted lane changes – enabled by default, and triggered by activating the indicator, and keeping your hands on the wheel when the car believes it is safe to change lanes – are a handy inclusion, though it is slower to begin the lane change than some drivers may expect and takes some getting used to.

The Ioniq 5 N does not have the overzealous driver-facing attention monitoring cameras of other new Hyundais and Kias – now required by European law – which beep at the driver if they take their eyes off the road for more than a second or so.

However, the N has adopted the traffic-sign recognition technology from the company’s newest models, with an overspeed warning that chimes if the driver has exceeded the detected speed limit.

As with other integrations of the system, it tends to misread signs – such as a 60km/h off-ramp speed sign when still on a 110km/h freeway – and beep because it thinks the driver is speeding, when in fact the car has detected the wrong limit.

It is the latest version of the system, so the beeps are three decibels quieter than the original iteration, the menu to turn it off can be bound to a steering wheel shortcut, there’s a greater tolerance before the first beep, and the chimes can be switched off without hiding the visual speed alert – though this must be done every time the car is turned on.

It is not perfect, though it is not all Hyundai’s fault. These systems are becoming mandatory in Europe, and the way cars are developed means features such as this can’t easily be disabled for cars reaching Australia – and the chimes are quiet enough to drown out with music and fake engine noise.

The Hyundai Ioniq 5 N is covered by the same five-year/unlimited-kilometre vehicle warranty and eight-year/160,000km battery assurance as the regular Ioniq 5 line-up.

Hyundai calls for servicing every 24 months or 30,000km for its Ioniq vehicles – double the intervals offered for most of its petrol cars – with each of the first three rounds of maintenance costing $625 each.

Over four years or 60,000km it amounts to $1250 – compared to $1404 for a Kia EV6 GT, or $640 for a Ford Mustang Mach-E GT. Tesla does not quote service prices for its cars, including the Model 3 and Model Y Performance, but rather operates a ‘condition-based’ program that uses the vehicle’s sensors to detect when a component needs maintenance.

A year of comprehensive insurance coverage with a leading provider costs $1924, based on a comparative quote for a 35-year-old male driver living in Chatswood, NSW. Insurance estimates may vary based on your location, driving history, and personal circumstances.

Nearly $2000 annually is not cheap, but it’s surprisingly only 10 per cent more expensive than a Hyundai i30 N – which is half the price, and doesn’t have a complex, heavy battery – and is cheaper than most rivals based on the same parameters: $1960 for a Kia EV6 GT, $2130 for a Ford Mustang Mach-E GT, and $3310 for a Tesla Model Y Performance.

Hyundai claims energy consumption of 21.2kWh per 100 kilometres for the Ioniq 5 N, 11 per cent higher than the regular, extended-range Ioniq 5 AWD.

Over 800km of testing in the city, on the highway, and winding country roads, we observed 23.1kWh/100km.

In primarily around-town and highway driving we saw energy consumption of less than 22kWh/100km, but driving the car hard, and testing its performance, pushes the readout to 25kWh/100km or beyond.

At this consumption, the 84kWh battery would return about 335km of driving range – enough to get to an enjoyable road near city limits, but look to venture further and you will need to plan stops at fast charging stations, which are currently not that common off the main highways in Australia.

The Hyundai specification sheet quotes an 18-minute fill-up from 10 to 80 per cent on a 350kW fast charger – but contrary to common belief, that does not mean the Ioniq 5 N can charge at up to 350kW.

We were not able to test the car on our go-to 350kW fast-charging station during this loan, but prior testing of Hyundai and Kia cars with previous-generation battery packs has seen a real-world maximum of about 240kW to 250kW.

Hyundai quotes a 10-hour, 50-minute recharge from 10 to 100 per cent on a 7kW AC home wallbox, or one hour and 10 minutes from 10 to 80 per cent on a 50kW DC ‘fast’ charger.

The Ioniq 5 N uses traditional lithium-ion (nickel-manganese-cobalt) battery chemistry, which means the battery should be kept between 10 and 80 per cent charge in daily driving – and only recharging to 100 per cent on rare occasions, such as a road trip, to avoid causing excess damage.

Powering the Hyundai Ioniq 5 N are dual electric motors developing 166kW/350Nm at the front, and 282kW/390Nm at the rear in normal driving, for combined outputs of 448kW/740Nm.

In N Grin Boost – a button on the steering wheel that activates 10 seconds of extra power – it ups outputs to 175kW/370Nm up front, 303kW/400Nm at the rear, and 478kW/770Nm combined, or more power than two petrol i30 N hot hatchbacks.

It is properly fast in a straight line – far too quick to enjoy within the speed limit. Hyundai claims 0–100km/h in 3.5 seconds in normal mode, or 3.4 seconds in N Grin Boost – on par with a Ferrari 458 or a new Porsche 911 – and while we didn’t independently test the claims, it feels every bit as fast on the road.

But plenty of electric cars can accelerate quickly. Where the Ioniq 5 N stands apart in how it engages its driver – like no electric car before it.

Drivers can turn on an ‘N e-Shift’ mode designed to simulate the eight-speed dual-clutch transmission in an i30 N, which can be driven in ‘automatic’ mode or controlled with shift paddles on the back of the steering wheel.

It works in conjunction with a trio of synthesised driving sounds – one inspired by the 2.0-litre turbo engine in an i30 N (Ignition), an unusual computer-inspired noise (Evolution), and another intended to mimic a spaceship or jet fighter (Supersonic).

These all sound gimmicky on paper – and the simulated gears make the car slower under full acceleration – but they are brilliantly executed in the real world.

Upshift under hard acceleration and the fake transmission will briefly cut power to simulate a gear change. Floor the accelerator pedal with the car in a high ‘gear’ and it will labour like a petrol car at low RPM. And vice versa in a low gear: drive too quickly and the car will buzz off a ‘rev limiter’.

Evolution and Supersonic weren’t to our tastes – though the latter produces a sonic boom-style sound when changing gears under hard acceleration – but we couldn’t get enough of Ignition mode.

Upshifts are met with ‘burp’ (or ‘DSG fart’) sounds from the simulated gearbox, while it will pop and crackle on the overrun, or on downshifts – though the latter can be turned off if you don’t like it.

It does sound a little fake – like a synthetic noise coming from the speakers, which it is, not an actual engine – but it is far more interesting than sitting in silence like every other electric car.

Yes, the gears make the car slower, and the noises are synthesised. But for performance-car fans used to judging corners and speed based on gears, revs and noise, the synthetic trickery fills the void left by removing the engine and fitting near-silent electric motors.

If we’re nitpicking, we wish there was a stronger ‘engine braking’ effect when lifting off the accelerator pedal in a low gear.

Unlike a petrol car, once you turn off your favourite driving road, you can press a single button to switch the fake gears and noise off – and it drives almost like any other Ioniq 5.

Ride comfort is impressively supple in Normal mode for a car on 21-inch wheels, low-profile tyres and sports suspension. It’s not a magic carpet ride, but we’ve driven plenty of electric cars with half the power that are less comfortable over potholes and speed bumps.

At higher speeds on poorly surfaced, undulating freeways, the dampers in Normal mode may even be too soft, and the body is not quite as settled as we’d like – but a switch to the Sport suspension setting fixes that.

There are three regular drive modes (Normal, Sport and Eco) plus N, Custom 1 and Custom 2 settings, with myriad settings to customise motor response, steering weight, suspension firmness, rear differential behaviour, stability control, and the head-up display graphics.

Two customisable N shortcut buttons on the steering wheel – plus a regular Drive Mode switch for Normal, Sport and Eco modes – give you easy access to tailor the car to your tastes.

In Normal mode the power is approachable – first-time drivers won’t feel overwhelmed unless they really commit with a strong push of their right foot – and the steering is light.

The Ioniq 5 N does a good job of masking its 2.2-tonne weight on a winding road – though it doesn’t respond to inputs like a 1000kg-lighter i20 N – and the 275/35 R21 Pirelli P Zero tyres on each corner deliver great grip.

Driving fast on a public road, you’re more likely to encounter oversteer – and have the rear end step out – before the 5 N understeers and runs wide, with torque distribution that’s markedly rear-biased, and relatively relaxed stability-control tuning.

Adjusting the car’s line mid-corner with the right pedal is easy with the rear differential in a sportier setting – though particular caution is needed in the wet, as the amount of power on tap means it’s not hard to spin wheels if the driver is overeager.

The brakes deliver excellent stopping power, and the transition from regenerative braking to the regular disc brakes is well calibrated.

The steering is not the most feelsome – though it gets sufficiently heavy in N mode – and the suspension is a bit too firm for Australian back roads in Sport+ mode, but overall the Ioniq 5 N is far more fun to drive than you’d think any electric car would have the right to be.

We’ve barely scratched the surface of the litany of modes on offer to the driver. On a racetrack, you can precondition the battery for maximum power in a short burst or endurance over a longer stint, manually vary the torque split between the front and rear wheels, enable up to 0.6G of regenerative braking force, and turn on a ‘Drift Optimiser’.

Other notes: the LED headlights are bright, there’s some tyre roar on coarse-chip roads but it’s surprisingly well insulated, and the rain-sensing wipers could be smarter and better calibrated.

The Hyundai Ioniq 5 N is not rated to tow.

The payload is just 430kg, which is ample for four passengers and some luggage – but owners need to be careful not to exceed the gross vehicle mass when adding a fifth passenger or filling the boot.

If you’re a fan of petrol-powered performance cars that’s worried about the switch to electric vehicles: don’t be.

The Hyundai Ioniq 5 N is not just good for an electric car, or good for a Hyundai – it’s a proper enthusiast’s car that is fast, fun and engaging when you want it to be, and comfortable, well appointed, spacious and easy to live with when you don’t.

For most potential buyers, the biggest roadblocks will be the price – more than $120,000 drive-away is not chump change – and the badge on the bonnet.

If you get past those, there truly is no other car like it.

Hyundai says it has stock on the ground of the Ioniq 5 N, with estimated wait times of less than one month.

The next step on the purchase journey is to check the Hyundai website for stock. You can also find Hyundais for sale at Drive.com.au/cars-for-sale.

It’s always worth a test drive to make sure the Ioniq 5 N drives to your tastes, and to experience the synthetic gear shifts and engine sounds for yourself. Find your nearest Hyundai dealer via this link. We’d also recommend considering the Kia EV6 GT as it has a lot in common with this Hyundai.

If you want to stay updated with everything that's happened to this car since our review, you'll find all the latest news here.