Hyundai Ioniq 5 vs GWM Tank 500

What's the difference?

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Hyundai Ioniq 5
Hyundai Ioniq 5

$42,449 - $92,950

2024 price

GWM Tank 500
GWM Tank 500

$64,490 - $78,490

2026 price

Summary

2024 Hyundai Ioniq 5
2026 GWM Tank 500
Safety Rating

Engine Type
Not Applicable, 0.0L

Inline 4, 2.0L
Fuel Type
Electric

Unleaded Petrol/Electric
Fuel Efficiency
0.0L/100km (combined)

2.1L/100km (combined)
Seating
5

5
Dislikes
  • Awkward exterior door handles
  • No spare wheel
  • Big turning circle

  • Some body-roll
  • Intrusive driver-assist tech
  • Fuel use not as good as hoped
2024 Hyundai Ioniq 5 Summary

What is it about single letters and performance cars? 

BMW has M, Volkswagen has R, Lexus has F, and with only 23 choices left Hyundai opted for N - which stands for Namyang, site of the brand’s sprawling proving ground and development centre in South Korea, and Nurburgring, the famous German racing circuit where its performance cars are fine-tuned.

And like BMW M Sport, VW R-Line and Lexus F Sport, the Korean giant has N Line as a ‘lite’ option. Sporty models that add a little more punch and visual flair without crossing the line into hardcore hot-rod territory. 

And this is one its latest examples, the pure-electric Ioniq 5 SUV in top-spec Epiq AWD trim and equipped with the N Line Option Pack as well as the tricky Digital Mirror Pack.

In this configuration it slots into the $90K price band, which means it has a lot to live up to in terms of performance, safety, driving dynamics, value and more. 

So, stay with us to see if this premium five-seater is the kind of sporty EV SUV that gets your heart racing.

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2026 GWM Tank 500 Summary

The arrival of the GWM Tank 500 Ultra PHEV is noteworthy because it’s the first plug-in hybrid Tank model in Australia.

It’s also a major event for the Aussie adventure-travel community because it’s a plug-in hybrid 4WD with five seats, high- and low-range gearing, and a front, centre and rear diff lock.

The Tank 500 PHEV gets more power and torque than its hybrid stablemate, offers about 120km electric-only driving range (listed), and it can be used as a 6kW mobile power station (V2L) at your campsite. Towing remains at 3000kg.

There’s a lot in this Tank’s favour: it’s a body-on-ladder-frame chassis large 4WD with a packed standard features list and real off-road adventure potential.

All of that – and more – for under $80 grand.

But does the plug-in set-up add anything substantial in terms of daily driveability or does it simply make this Tank an $80,000 camp-site generator?

Read on.

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Deep dive comparison

2024 Hyundai Ioniq 5 2026 GWM Tank 500

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