Hyundai Ioniq 5 vs Tesla Model Y

What's the difference?

VS
Hyundai Ioniq 5
Hyundai Ioniq 5

$54,990 - $121,620

2024 price

Tesla Model Y
Tesla Model Y

$55,900 - $89,400

2025 price

Summary

2024 Hyundai Ioniq 5
2025 Tesla Model Y
Safety Rating

Engine Type
Not Applicable, 0.0L

Not Applicable, 0.0L
Fuel Type
Electric

Electric
Fuel Efficiency
0.0L/100km (combined)

0.0L/100km (combined)
Seating
5

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

  • Drive mode selector is silly
  • Warranty below average
  • Feels very heavy when pushed
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.

View full pricing & specs
2025 Tesla Model Y Summary

I don’t think I’m overselling it to say that this is the car that could make or break Tesla in Australia and around the world. 

Crazy, right? That seemed impossible not so long ago, back when the brand appeared untouchable. But new competition, largely from China, plus the giant Musk-shaped elefant (it is German for elephant…) in the room, has seen sales and profit plummet.

Just last month, for example, the Tesla Model Y lost its best-seller crown in Australia to BYD, admittedly in the weeks before the new 'Juniper' version arrived.

The point is, a new version of its biggest seller is a Very Big Deal. But have they changed enough, and changed it well enough, to cut through the noise?

We put the cheapest variant, the Tesla Model Y RWD, to the test to find out.

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Deep dive comparison

2024 Hyundai Ioniq 5 2025 Tesla Model Y

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