The Ford Mustang Mach-E and the Hyundai Ioniq 5 are two of a growing list of 5-passenger battery-electric crossovers that have found their way to dealer showrooms in the past few years. As established carmakers dip their toes into the electric-vehicle (EV) market, it only makes sense that they attack the largest conventional vehicle segments first, and that's why the compact and midsize crossover segments have seen such an influx of battery-electric entries. In auto industry terms, there's a lot of volume there. The Ford Mustang Mach-E came to market as a 2021 model. The Hyundai Ioniq 5, meanwhile, debuted for the 2022 model year.
The two EVs start on an equal footing in this comparison because they are remarkably similar in size. The Mach-E's wheelbase is an inch shorter than that of the Ioniq 5, and in overall length, they are 3.5 inches apart. Their overall heights are identical, and the Ioniq is less than half an inch wider than the Mustang Mach-E. Yes, their exterior styling is radically different, but they are functionally similar.
Their 2023 model-year prices are very similar, too. Both have entry-level prices in the low-to-mid $40,000 range. The Mach-E offers a high-performance GT version with a starting price of over $60,000. The Ioniq doesn't offer a comparable product for the 2023 model year, but the performance-first Ioniq 5 N is coming in 2024.
Though the asking prices are tightly bunched, your overall cost for obtaining the vehicles might be very different. The reason? Federal tax incentive rules. The 2023 Ford Mustang Mach-E currently qualifies its purchasers for a $3,750 federal tax credit. The Hyundai Ioniq 5 doesn't, though you might get a similar benefit from the automaker if you lease.
The slight differences can loom large when considering models that share as many attributes as these two do. That's why a side-by-side comparison can be so helpful. Here is a detailed comparison of the 2023 Ford Mustang Mach-E and the 2023 Hyundai Ioniq 5.
2023 Ford Mustang Mach-E GT
Customers can choose from among four Mustang Mach-E trim levels for 2023: Select, Premium, California Route 1, and GT. If you're comfortable with a rear-wheel-drive (RWD) vehicle, you can choose Select and Premium trims, which also offer all-wheel-drive (AWD) variants. The California Route 1 and GT trims are strictly AWD.
The lowest-priced 2023 Ford Mustang Mach-E is the RWD Select trim at $44,795, including the $1,800 destination charge. Expect to pay about $3,000 more for an AWD version. The California Route 1 Edition has a suggested starting price of $58,795, and the GT has a starting price of $62,440. Buyers can add a Performance Edition package that costs an additional $5,000. The 2023 Ford Mustang Mach-E qualifies for a $3,750 federal income tax credit.
The Mustang Mach-E, like other Ford vehicles, offers connected services through FordPass Connect. It includes a wireless data trial that begins when activated and expires at the end of three months or when you consume 3 gigabytes of data.
Hyundai offers the 2023 Ioniq 5 in four trims: SE Standard Range, SE, SEL, and Limited. The SE Standard Range is the lowest-priced Ioniq 5, with a manufacturer's suggested retail price (MSRP) of $42,785, including the $1,335 destination charge. (Hyundai notes that it only offers the SE Standard Range at some dealerships in certain states.) The Ioniq 5 SE adds range (go figure) and is also available in AWD form. The MSRP is $50,335, with the destination fee, in that configuration. The top-of-the-line 2023 Hyundai Ioniq 5 Limited with AWD has a suggested base price of $58,835.
Hyundai offers Bluelink—the Ioniq 5's connectivity system—complimentary for three years after vehicle purchase. It is then available by subscription.
Advantage: Hyundai Ioniq 5
2023 Hyundai Ioniq 5
The Ford Mustang Mach-E does not rank among the top three models in its segment in the JD Power 2023 U.S. Vehicle Dependability Study (VDS), which assesses owner-reported problems during the third year of ownership. The Mustang Mach-E also does not rank among the top three models in its segment in the JD Power 2023 U.S. Initial Quality Study (IQS), which tracks problems experienced by owners during the first 90 days. The Mustang Mach-E ranks third among Mass Market Battery Electric Vehicles (BEVs) in the JD Power 2023 U.S. Electric Vehicle Experience (EVX) Ownership Study, which examines satisfaction among EV owners.
The 2023 Ford Mustang Mach-E has the following warranty, roadside assistance, and scheduled maintenance coverage:
The Hyundai Ioniq 5 does not rank among the top three models in its segment in the 2023 VDS, 2023 IQS, or the 2023 EVX Ownership Study.
The 2023 Hyundai Ioniq 5 has the following warranty, roadside assistance, and scheduled maintenance coverage:
Advantage: Hyundai Ioniq 5
2023 Ford Mustang Mach-E
The 2023 Ford Mustang Mach-E offers its customers a surprisingly broad array of powertrains. With the standard-range 70.0-kWh battery pack, the RWD Select and Premium trims feature a 266-horsepower electric motor. The Premium trim with an extended-range 91.0-kWh battery pack offers 290 hp in RWD form and 346 hp in AWD versions. The latter is the same powertrain Ford installs in the California Route 1 Edition. The Mustang Mach-E GT delivers 480 hp and 600 pound-feet of torque. Ford says it will accelerate from zero-to-60 mph in 3.5 seconds in Performance Edition form.
The California Route 1 Edition leads the lineup with 312 miles of range on a charge. The Mach-E GT, meanwhile, gets 260 miles on a charge, and the standard battery AWD Select and Premium trims deliver 224 miles of range.
Using a DC fast charger, a standard-range Mach-E can go from a 10-percent charge to 80 percent in less than 40 minutes. An extended-range Mach-E will take 45 minutes to reach 80-percent recharge.
The Environmental Protection Agency (EPA) gives the RWD Mustang Mach-E the highest fuel-economy equivalent rating: 103 MPGe combined. The GT Performance Edition is at the other end of the scale with an EPA rating of 82 MPGe.
Compared to the Mustang Mach-E, the 2023 Hyundai Ioniq 5 offers buyers a more straightforward, easier-to-grasp choice of powertrains. The entry-level, rear-drive SE Standard Range trim employs a 168-hp permanent-magnet synchronous electric motor. The rear-drive SE, SEL, and Limited trims feature a larger-capacity 77.4-kWh lithium-ion battery pack and a 225-hp electric motor. The AWD SE, SEL, and Limited add a front-mounted electric motor to deliver 320 hp and 446 pound-feet of torque.
With its 58.0-kWh battery pack, the SE Standard Range delivers an EPA estimate of 220 miles on a charge. With the higher-capacity battery, the EPA rates the rear-drive SE, SEL, and Limited at 303 miles of range. Going to AWD in those trims adds horsepower but diminishes the range to 266 miles on a charge.
Because of its dual-voltage architecture, the 2023 Hyundai Ioniq 5 can go from a 10-percent charge to 80 percent in just 18 minutes when using ultra-fast DC public chargers.
As of this writing, EPA fuel-economy equivalency numbers for the 2023-model-year Ioniq 5s are inexplicably unavailable on the fueleconomy.gov website, but Hyundai has published MPGe ratings for its 2023 Ioniq 5s. The RWD Long Range Ioniq 5 has a rating of 114 MPGe combined, and the rear-drive Standard Range gets 110 MPGe combined. The AWD variants get 101 MPGe, according to Hyundai.
Advantage: Ford Mustang Mach-E
2023 Hyundai Ioniq 5
The 2023 Ford Mustang Mach-E's standard Ford Co-Pilot 360 includes an impressive roster of advanced driver assistance systems (ADAS). Key advantages of Ford Co-Pilot 360 are its blind-spot warning system with rear cross-traffic warning, reverse brake assist, and post-collision braking. Those systems are optional on many other models. The enhanced version—Ford Co-Pilot 360 Assist 2.0—adds adaptive cruise control with stop-and-go capability, intersection turn assistance, automatic emergency steering, integrated navigation, and traffic-sign recognition.
The Mustang Mach-E's flashiest feature is Ford's BlueCruise hands-free highway driving system. With it, Mustang Mach-Es can drive themselves on more than 130,000 highway miles in North America with a human driver paying attention to the process. The system offers lane-change assistance, predictive speed assistance that adjusts vehicle speed automatically for upcoming curves, and in-lane repositioning that shifts the crossover EV away from vehicles in adjacent lanes.
As of this writing, the National Highway Traffic Safety Administration (NHTSA) has not rated the 2023 Ford Mustang Mach-E for overall crashworthiness. The Insurance Institute for Highway Safety (IIHS) named the 2023 Mustang Mach-E a Top Safety Pick for the 2022 calendar year.
Hyundai equips the 2023 Ioniq 5 with SmartSense, a collection of ADAS that includes an array of increasingly common electronic safety technologies. Among the less common ADAS the Ioniq 5 offers are adaptive cruise control with machine learning, forward-collision avoidance assist, blind-spot avoidance assist, speed limit assist, and a driver monitoring system.
Adaptive cruise control with machine learning absorbs the driver's preferences for acceleration and interval with the vehicle ahead and uses that information in its operation. Among other functions, the forward-collision warning with intersection crossing system senses vehicles approaching from the side when the Ioniq 5 is going straight through an intersection and could initiate evasive actions if a crash is imminent.
The Ioniq 5 was the first Hyundai model equipped with Highway Driving Assist 2 (HDA2). The system helps maintain a set speed and distance from the vehicle ahead in highway driving. It centers the car in its lane, assisting in steering around curves. And it will automatically assist lane changes when the driver activates the turn signal. HDA 2 also adjusts the steering feel according to drive mode.
As of this writing, the NHTSA has not rated the 2023 Hyundai Ioniq 5 for overall crashworthiness. However, the IIHS named the 2023 Hyundai Ioniq 5 a Top Safety Pick+ for the 2022 calendar year.
Advantage: Hyundai Ioniq 5
2023 Ford Mustang Mach-E GT
If you like big digital screens, you'll enjoy the 2023 Ford Mustang Mach-E. Its contemporary interior boasts a 15.5-inch central touchscreen and a 10.2-inch digital instrument display. The displays run Ford's Sync 4A infotainment system, including wireless Apple CarPlay and Android Auto. Ford improved its voice-recognition system's ability to respond to plain-language requests for the Mustang installation. This means it's a convenient, non-frustrating way to control various functions.
The Mach-E's standard 6-speaker audio system features SiriusXM satellite radio with 360L. A 10-speaker B&O sound system by Bang and Olufsen is available in some up-level Mach-E trims. In total, the Mach-E's displays and infotainment system are among the best in its class.
One headlining feature of the 2023 Hyundai Ioniq 5 is its head-up display (HUD) with augmented reality (AR) mode. Compared with genuine reality, AR is an upgrade, and the system turns the windshield into a third display screen. The AR technology can project turn-by-turn navigation and identifiers related to the car's surroundings nearly four feet in front of the driver's line of sight.
The 2023 Ioniq 5 features a 12-inch touchscreen infotainment display and a hoodless 12-inch digital gauge cluster. Among other things, the easy-to-understand infotainment system provides valuable EV-oriented information like real-time travel radius mapping based on the current state of charge. It can also help search and plan the best route to include a charging station.
The infotainment system supports Apple CarPlay and Android Auto with wired connections but doesn't link wirelessly. Multi-link Bluetooth lets you pair two devices simultaneously—one for phone calls and another for streaming audio. The Ioniq 5's navigation system comes with three years of Bluelink infotainment and map updates. It also supports over-the-air updates to the multimedia and navigation systems. The standard audio is an 8-speaker premium Bose sound system with a subwoofer.
Advantage: Ford Mustang Mach-E
2023 Hyundai Ioniq 5
From a convenience point of view, the 2023 Ford Mustang Mach-E is on par with the best conventional crossover SUVs. A large portrait-oriented touchscreen in the dashboard's center is a keynote of the Mach-E's contemporary interior cabin. An optional panoramic glass roof introduces more natural light, and you can adjust the interior lighting color to set the mood or just for fun. The center console houses cupholders, a gear selector, and a wireless charging pad. Dual-zone automatic climate control is standard. The legible and configurable instruments reside in a 10.2-inch digital display.
Five adults and their luggage won't feel crowded in the Mustang Mach-E's cabin. The EV offers 29.7 cubic feet of luggage space behind the rear seats. With the rear seatbacks folded, the area opens up to 59.7 cubic feet. Even better, the cargo area has an adjustable load floor that provides charge cord storage underneath—a nice solution to a common problem. Ford makes a hands-free power-operated liftgate part of an option package, and it supplements the conventional rear cargo area with a front trunk ("frunk"). It won't hold a steamer trunk, but it does have 4.7 cubic feet of cargo room, and it drains.
The 2023 Hyundai Ioniq 5 has a taller roof than its corporate cousin, the Kia EV6. This endows it with good interior and cargo space. The tall roofline is also key to the Ioniq 5's futuristic styling.
The Ioniq 5 carries the leading-edge exterior theme into the cabin. The center console has a moveable piece that can slide backward and forward 5.5 inches. The memory driver's seat has a footrest—just the thing for those relaxing stops at charging stations. The second-row seats recline and slide to provide more legroom or cargo space. Ford decks out the seats and trim in eco-friendly materials, including natural wool and bio paint. While some features, like the steering-column-mounted rotating shift selector, seem over the top, most of the avant-garde stuff works quite well.
The Ioniq 5 offers 27.2 cubic feet of cargo room behind the 60/40 split-folding rear seatbacks. The EV6 has 59.3 cubic feet of interior cargo space with the rear seatbacks down. The power-operated liftgate operates hands-free. A tiny, 0.85-cubic-foot frunk is an excellent place to stash secret stuff.
Advantage: Ford Mustang Mach-E
If you'd like to learn more about these battery-electric crossover SUVs, be sure to read our expert reviews of the Ford Mustang Mach-E, Mach-E GT, and Hyundai Ioniq 5. To find out how people like you rate models in this segment, check out our ratings from verified vehicle owners.
Also, please keep in mind that while the information in this article was accurate and valid on July 27, 2023, it may have changed since that date. Always confirm product details and availability with the automaker's website or your local dealership.
Jack R. Nerad has reviewed cars, trucks, vans, and sport utilities for over three decades. He also managed the editorial efforts of Motor Trend magazine, JD Power, and Kelley Blue Book. Jack is currently the host of the SportsMap Radio Network program America on the Road, available on Apple Podcasts, iHeart Radio, Spotify, Stitcher, and other outlets.
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