Hyundai Ioniq 5: 6 reasons why it’s a great company car
Practical, spacious, cost-effective to run and with highly advanced in-car tech: we explore all reasons that make the all-electric Hyundai Ioniq 5 a fantastic company car...
Hyundai is at the forefront of the global push towards electrification, and its fast-growing range of efficient and versatile company cars is testament to the brand’s commitment to reduce our environmental impact. The new Hyundai Kona Electric and the all-new Hyundai Tucson – with its range of electrified powertrains – led the way. Now, the revolutionary all-electric Hyundai Ioniq 5 has joined the line-up.
Offering a choice of cost-effective all-electric powertrains with up to 298 miles of range (WLTP), ultra-fast charging capabilities that can get you from 10%-80% capacity in as little as 18 minutes in optimum conditions, next-level safety and infotainment technology, acres of interior space, dazzling performance and futuristic eye-catching style, the Hyundai Ioniq 5 mixes all the elements required to make the perfect company car. Let’s find out more…
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Cost-effective all-electric power (just 2% BIK tax)
When it comes to choosing your company car, running costs play a huge factor. Fuel prices, BIK tax and VED (road tax) all need to be considered before making your decision. That’s where the Hyundai Ioniq 5 trumps many of its competitors.
Unlike traditional combustion-engined company cars, the Hyundai Ioniq 5’s all-electric powertrain presents an opportunity to save hundreds of pounds – if not thousands of pounds –in daily and annual running costs, compared to petrol and diesel alternatives.
Available with the choice of a 58kWh or larger-capacity 72.6kWh battery, paired with either a single-motor rear-wheel drive powertrain or a more powerful all-wheel drive dual-motor layout, the Hyundai Ioniq 5 will – depending on your specification – achieve between 238 and 298 miles (WLTP) on one charge. That’s easily enough for lots of daily commutes, long family trips at the weekend, and more.
For example, an average 10,000 mile-a-year driver doing a 30-mile round commute each day could actually do a week of trips without having to charge their car – although overnight home charging would ensure that the battery is brim full ahead of each and every trip (unlike a petrol model). Equally, 238 miles of range is easily enough to get you from Bristol to Manchester – a 3 hour-plus journey where you’d almost certainly stop for a coffee or lunch, giving you a chance to top up your battery at a rapid charger.
So, what does that mean in terms of running costs? Well, charging at home based on the current average daytime rates, a company car driver doing 10,000 miles a year could cut their annual EV charging bill to around £690 – an annual saving of around £931 compared to a similarly-sized petrol SUV based on current fuel and energy prices.[1] Charge overnight or on a dedicated EV tariff, and the savings are likely to be even larger.
That’s not all. Thanks to its environmentally friendly all-electric powertrain, the Hyundai Ioniq 5 boasts incredibly low benefit-in-kind (BIK) tax rates. Set at just 2% for the 2022 tax year, a 20% rate taxpayer will pay as little as £150 per year, while those in the 40% tax bracket will pay as little as £300 per year.
Then there’s vehicle excise duty (VED), or road tax. The Hyundai Ioniq 5 is currently VED-exempt, which could potentially save you £480 per year compared to a plug-in hybrid SUV, or £490 compared to a petrol or diesel model.[2]
Finally, the Hyundai Ioniq 5 is also exempt from urban congestion and ultra-low emission zone (ULEZ) charges. For many city workers, that’s another significant expense axed – all with the knowledge that your car isn’t pumping out any harmful emissions into the streets.
Ultra-rapid charging
Company car drivers can be on the road a lot, which could pose issues when it comes to driving an all-electric car. Not with the Hyundai Ioniq 5.
Available as standard, the Hyundai Ioniq 5 boasts both 400v and ultra-rapid 800v charging capabilities. This means that while most electric cars would take upwards of 30 minutes to get from 10%-80% charge on a rapid charger, in ideal conditions the Hyundai Ioniq 5 can take just 18 minutes when connected to a 350kW public charger – although obviously charging times for all electric cars will increase in colder winter weather.
Put simply, that means a 62-mile boost – the equivalent of Bicester to London – in as little as five minutes (WLTP). That’s barely enough time to grab a coffee at the services!
Hyundai’s Bluelink smartphone app can help you locate chargers between meetings and also lets you interact with your car remotely – meaning you can check your state of charge, activate your climate control, or lock the doors from your phone. A subscription to Charge myHyundai also offers drivers access to over 200,000 charging points across Europe via a streamlined one-payment card or app.
Finally, the Hyundai Ioniq 5 has an innovative vehicle-to-load (V2L) capability. This allows drivers to freely use or charge any electric devices – such as electric bicycles, scooters or camping equipment – making it a charger on wheels.
Next-level safety technology
Spending a lot of time on the road means that having the latest in advanced safety technology is paramount – and that’s exactly what the Hyundai Ioniq 5 offers.
Out on the road, Highway Driving Assistant 1.5 makes motorway driving easier, safer and more relaxing. Adaptive cruise control and lane assist help you keep a safe distance from cars in front and ensures you stay solidly in your lane, while semi-autonomous Forward Collision-Avoidance Assist (FCA) with Lane-Change Oncoming makes switching lanes safer.
For the first time in a Hyundai, the Hyundai Ioniq 5 features an Augmented Reality Head-Up Display on higher-spec models. It projects navigation, safety information and the car’s surroundings onto the windscreen – meaning you can always keep your eyes on the road.
Other semi-autonomous systems include Intelligent Speed Limit Assist – which can adjust the Hyundai Ioniq 5’s speed to match the speed limit – as well as High Beam Assist, which will automatically dim the powerful LED headlights to avoid blinding oncoming traffic. The Driver Attention Warning system constantly monitors you and will display a warning if driver inattentiveness if detected.
When you’re in town, FCA can detect cars, bikes and pedestrians and will apply the brakes if a collision is imminent. Junction Turning will brake the car if it detects oncoming traffic when you’re turning left.
Blind-Spot Collision Avoidance uses a radar to avoid collisions at the rear – especially useful in stop-start traffic. Remote Smart Parking Assist allows you to park the car remotely via the smart key, while Surround View Monitor, Rear Cross-Traffic Collision Avoidance Assist and Reverse Parking Collision-Avoidance Assist all help to avoid prangs and scrapes in the office car park.
Comfortable, stylish and entertaining
With its head-turning style, sharp lines, Parametric Pixel LED lights, 20-inch alloy wheels, aerodynamic clam-shell bonnet and Hyundai Pony-inspired looks, the Hyundai Ioniq 5 in unquestionably one of the most stunning cars on the road today – and that style continues on the inside too.
With a sleek minimalist design and two vast 12-inch screens, the interior of the Hyundai Ioniq 5 is as cosseting as it is futuristic. On the Ultimate trim, comfortable seats are available as an option that recline into an armchair-like position – making hours on the road feel like minutes – while many of the touch-point materials throughout the Ioniq 5 are made from sustainable materials such as recycled PET bottles, plant-based yarns and eco-processed leather.
Bluelink connected car services make connecting your smartphone to your Ioniq 5 a breeze. Download the app and you can plot your journey to the office from the comfort of your sofa, set your Ioniq 5 to charge at certain times while at home, check your charging progress and state of charge, lock and unlock the doors, find nearby chargers and even pre-heat the car on chilly weekday mornings for added efficiency and total comfort.
Android Auto and AppleCarPlay come as standard, while Dynamic Voice Recognition allows you to flick through your favourite music, podcasts and radio stations and set features like your heated seats – all without lifting a finger.
Acres of versatile space
Company cars need to be able to work hard and play hard in equal measure – and that’s where the Hyundai Ioniq 5’s vast interior space comes in.
The electric powertrain means the Hyundai Ioniq 5’s floor is completely flat, while its wheel-on-each-corner design means interior space is maximised like no petrol or diesel rival. Up front, a collection of useful cubbies and pockets are perfect for phones, tablets and snacks, while the moveable Universal Island centre console can slide forwards and backwards, making the cabin truly unique, spacious and versatile. USB ports and wireless charging pads mean everyone can stay charged up, too.
In the back, the comfortable rear seats slide, offering vast amounts of rear leg room. In fact, at 4635mm long, the Ioniq 5 boasts SUV-like interior space, in a midsize CUV family vehicle. In the boot, 527 litres of storage space is plenty for a family weekend away, while up to 57 litres of additional storage in the front ‘trunk’ adds even more usability.
Need even more room? Fold down the rear seats and you’ll have 1587 litres to play with. And if you’re moving bigger items, the Hyundai Ioniq 5 can tow up to 1600kg.
Electrifying performance
While a company car needs to be comfortable and efficient – they need to be fun to drive too.
In its most powerful dual-motor form, the Hyundai Ioniq 5 boasts 305PS and 605Nm of instant electric torque – that means 0-62mph in just 5.2 seconds. All-wheel-drive means excellent traction in all conditions, while the low-slung batteries help keep the centre of gravity low for added comfort and confidence in corners.
So, whether you’re after comfort, technology, style, efficiency or space from your company car, the Hyundai Ioniq 5 can do it all.
[1] Based on Hyundai Ioniq 5 72.6kWh 160kW vs hybrid SUV with 44.1mpg (WLTP) over 10,000 miles. Average 2022 UK daytime electric rates of 28p per kWh (NimbleFins). Average UK petrol price of 148.1p per litre (AA, February 2022.)
[2] See www.gov.uk/vehicle-tax-rate-tables for more info.
[3] Certain Hyundai Ioniq 5 features depend on specification and are only available on certain trims or as options. Please ask your Hyundai dealer for more information.
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