The 2023 Hyundai Ioniq 5 comes into a comparison versus the 2023 Tesla Model 3 as an upstart in the battery-electric vehicle (BEV) race. But it is an upstart from a global car manufacturer that has steadily gained ground with American consumers. As it is Hyundai's first all-out effort in the electric vehicle (EV) space, the Ioniq 5 has a lot riding on it. As the leader of the Ioniq sub-brand, it has already spawned a close cousin in the Ioniq 6 battery-electric sedan, and more Hyundai Ioniq EVs will undoubtedly come off the launchpad soon.
In contrast to the Ioniq 5, the Tesla Model 3 is something of a constant in a growing class of BEVs. Introduced as a 2017 model, it has remained largely the same mechanically over the past several years. However, Tesla has altered the powertrain offerings and upgraded the driver-assistance software and systems.
The comparison of these two EVs is an interesting juxtaposition of attributes. The Tesla Model 3 is an old design from a relatively new manufacturer. The Hyundai Ioniq 5 is a new design from an old and established conventional automaker. By vehicle sales, Tesla Motors is currently the leading luxury brand in America. Hyundai is gathering strength in America and globally as a mass-market brand, while the Genesis marque it owns competes in the luxury-vehicle market here and overseas.
While both EVs will transport five passengers, the Model 3 is a 4-door sedan, while the Ioniq 5 is a crossover SUV. The latter's taller roofline is the big tipoff. Both models have distinctive styling. The Tesla Model 3 has soft edges like a well-used bar of soap, while the Ioniq 5 has more sharply creased bodywork. It's up to you to decide which is more futuristic and, importantly, more attractive.
Both cars also sport cutting-edge interior designs that fully exploit the ground-up EV architecture. From a pricing standpoint, they overlap one another. The Tesla Model 3 has a lower base price, and Model 3s are also eligible for current federal income tax credits. At this stage, the Ioniq 5, due to its assembly outside North America, is not.
The battery-electric compact crossover segment in which the Ioniq 5 plays is gaining new models rapidly. Among them are the Ford Mustang Mach-E, Nissan Ariya, Toyota bZ4X, and Volkswagen ID.4. The Kia EV6 shares the same mechanical components as the Ioniq 5, so it is the closest of the competitors. However, they look very different inside and out.
Battery-electric cars like the Tesla Model 3 are less prevalent. The BMW i4, Chevrolet Bolt EV, Hyundai Ioniq 6, Nissan Leaf, and Polestar 2 are currently available electric car models most like the Model 3. Of these, Chevrolet has announced that the current Bolt will go out of production by the end of 2023. The i4 and the Polestar 2 are the most comparable premium-brand cars.
If you are seeking a 5-passenger BEV that costs around $40,000, you have come to the right place. The Ioniq 5 and Model 3 are both worthy contenders. Here is a detailed comparison of the 2023 Hyundai Ioniq 5 and the 2023 Tesla Model 3.
2023 Hyundai Ioniq 5
Hyundai makes the 2023 Ioniq 5 available in three trim levels: SE, SEL, and Limited. Each trim gives its buyers a choice of powertrains. The least expensive 2023 Hyundai Ioniq 5 is the SE Standard Range. Including the $1,335 destination charge, the base manufacturer's suggested retail price (MSRP) is $42,785.
An SE trim with a more powerful 225-horsepower motor, larger battery, and 303 miles of range has a starting MSRP of $46,835. An SEL trim with the same powertrain carries a suggested retail price of $48,785. If you opt for the luxurious Limited trim with that powertrain, the suggested retail price is $54,935.
The least expensive dual-motor all-wheel-drive (AWD) trim is the SE, with an MSRP of $50,335. The Limited with the AWD powertrain carries a base suggested price of $54,935. No 2023 Hyundai Ioniq 5 currently qualifies its buyers for the $7,500 federal tax credit designed to promote the sales of zero-emission EVs.
Shoppers get the choice of three 2023 Tesla Model 3 trims: Rear-Wheel Drive (RWD), Long Range (LR), and Performance. The RWD trim, which offers 272 miles of range on a charge, is the least expensive choice. With a base MSRP of $41,630, including destination and order fees, it also features the Tesla Autopilot partial-autonomous driving system.
The mid-lineup trim is the LR ($53,130 with fees) that the Environmental Protection Agency (EPA) says will deliver 358 miles of range. This trim was unavailable for purchase on the Tesla Motors website as this was written.
The top-of-the-line Performance trim is EPA-rated at 315 miles on a full charge. Like the LR, it features dual-motor AWD. With the added fees, its starting MSRP is $54,630. The U.S. Treasury Department says the base RWD trim qualifies its buyers for a $3,750 federal income tax credit. The two other trims qualify their buyers for a $7,500 tax credit if they meet the income qualifications.
Advantage: Tesla Model 3
2023 Tesla Model 3
The Hyundai Ioniq 5 does not rank among the top three models in the Compact Car segment in the JD Power 2023 U.S. Vehicle Dependability Study (VDS), which assesses owner-reported problems during the third year of ownership. The Ioniq 5 also does not rank among the top three models in its segment in the JD Power 2022 U.S. Initial Quality Study (IQS), which tracks problems experienced by owners during the first 90 days. Additionally, the Ioniq 5 does not rank among the top three models in the Mass Market Battery Electric Vehicles segment in the JD Power 2023 U.S. Electric Vehicle Experience (EVX) Ownership Study, which examines satisfaction among BEV owners.
The 2023 Hyundai Ioniq 5 has the following warranty, roadside assistance, and scheduled maintenance coverage:
JD Power did not include the Tesla Model 3 in its official rankings in the 2023 VDS. It is ineligible for awards because Tesla Motors does not allow JD Power access to owner information in the 15 U.S. states where the law requires the automaker's permission. The Tesla Model 3 did take part in the 2022 IQS. However, it isn't eligible for a JD Power award due to the automaker not providing access to owner information in 15 states. The Tesla Model 3 ranks second in the Premium Battery Electric Vehicles segment of the 2023 EVX Ownership Study, which examines satisfaction among EV owners.
The 2023 Tesla Model 3 has the following warranty, roadside assistance, and scheduled maintenance coverage:
Advantage: Hyundai Ioniq 5
2023 Hyundai Ioniq 5
The 2023 Hyundai Ioniq 5 offers its buyers the choice of three distinct powertrains. The Ioniq 5 SE Standard Range uses a 168-hp permanent-magnet synchronous electric motor to drive the rear wheels. Its 58.0-kWh battery pack gives the car 220 miles of range on a charge. Buyers can also equip the SE, SEL, and Limited trims with a more powerful 225-hp electric motor driving the rear wheels. Trims with this powertrain have a larger-capacity 77.4-kWh battery that offers a 303-mile range.
The hot rods of the lineup are the SE, SEL, and Limited with the dual-motor AWD system. It uses front and rear electric motors to produce a combined 320 hp and an impressive 446 pound-feet of torque. Equipped with the 77.4-kWh battery pack, the EPA rates the AWD trims to deliver 266 miles of range.
As this article is written, the EPA has not published MPGe data for the 2023 Ioniq 5. The Hyundai-provided numbers are 110 MPGe combined for the standard-range powertrain, 114 MPGe combined for the 225-hp rear-drive powertrain, and 101 MPGe combined for the dual-motor AWD powertrain.
One of the Ioniq 5's superpowers is that it can utilize ultra-fast DC public chargers to go from a 10-percent charge to 80 percent in just 18 minutes. With a more common Level 3 charger, the task takes about 25 minutes.
In a characteristic break with tradition, Tesla Motors does not publish horsepower and torque ratings for its models. According to industry estimates, the single electric motor in the 2023 Tesla Model 3 RWD trim delivers about 271 hp and 310 pound-feet of torque. Tesla says the RWD trim will accelerate from a standstill to 60 mph in 5.8 seconds, and its full-charge range is 272 miles.
The LR trim employs front and rear motors, delivering an estimated combined 425 hp and 475 pound-feet of torque. According to Tesla, it will accelerate from zero-to-60 mph in 4.2 seconds. Its range on a full charge is 358 miles.
The Tesla Model 3 Performance also uses front and rear electric motors with an estimated combined 455 hp and 487 pound-feet of torque. It justifies its name with a zero-to-60-mph time of 3.1 seconds. The tradeoff is that range drops to 315 miles.
The EPA rates the RWD trim at 132 MPGe, the LR AWD trim at 131 MPGe, and the Performance trim at 113 MPGe.
Advantage: Tesla Model 3
2023 Tesla Model 3
In a bid to compete with the advanced driver assistance systems (ADAS) offered by Tesla and other competitors, Hyundai fills the Ioniq 5 with standard ADAS features, including the semi-autonomous Highway Driving Assist I. This hands-on system, only for use on highways, centers the Ioniq 5 in its lane, maintains the interval between it and the vehicle ahead, and adjusts speed if necessary. It will steer the crossover through curves but does not offer an automatic lane-change function. The 2023 Hyundai Ioniq 5 does offer other sophisticated systems, including forward-collision avoidance assist with pedestrian and cyclist detection and intersection turn assistance. Remote Smart Parking Assist—standard on the Limited trim—enables the Ioniq 5 to park itself in a perpendicular or parallel space even if there is no driver in the vehicle. When the driver is outside the car, it functions through the digital key. The Limited trim also features standard parking collision-avoidance assist that will warn the driver of an impending collision when backing up to park and then apply the brakes automatically if necessary.
The National Highway Traffic Safety Administration (NHTSA) has not rated the crashworthiness of the rear-wheel-drive 2023 Hyundai Ioniq 5, but the dual-motor AWD version received the highest-possible 5-star overall rating. Meanwhile, the Insurance Institute for Highway Safety (IIHS) honored the 2023 Ioniq 5 as a Top Safety Pick+ rating—the Institute's highest—for the 2022 calendar year.
Fitting for a vehicle spawned in Silicon Valley, the 2023 Tesla Model 3 flashes a lot of safety and driver-assistance tech. Its standard Autopilot system automatically steers, accelerates, and brakes the sedan within its lane. And that's just the beginning. Optional Tesla Enhanced Autopilot and Full Self-Driving Capability add automatic lane-change and automatic navigation with semi-autonomous driving from on-ramp to off-ramp.
The Model 3 also offers optional automated parallel and perpendicular parking. Should you feel the need, you can even summon the car from its parking spot. Tesla equips the Model 3 with the most common ADAS features like automatic emergency braking and lane-departure warning.
The NHTSA has not rated the crashworthiness of the 2023 Tesla Model 3, but the very similar 2022 Model 3 received a 5-star overall rating. The IIHS, meanwhile, named the 2023 Model 3 as a Top Safety Pick+ for the 2022 calendar year.
Advantage: Tesla Model 3
2023 Hyundai Ioniq 5
With its two wide digital displays side-by-side, the interior of the 2023 Hyundai Ioniq 5 reminds some of a video game arcade. A standard 12.3-inch color touchscreen provides the gateway to the easy-to-understand infotainment system. It includes expected functionality like AM/FM, SiriusXM satellite radio, HD Radio, and Bluetooth connectivity. The system supports Apple CarPlay and Android Auto but only through wired connections.
The standard audio system sends music, podcasts, and other sound through six speakers. The system includes standard onboard navigation with real-time traffic flow and incident data via HD Radio. In addition to clearly marked on-screen icons, voice control is another available method to interact with the system. It works well with little lag. Those seeking premium audio should opt for the Limited trim, where a Bose 8-speaker system with external amp and subwoofer is standard equipment.
The Ioniq 5 offers Bluelink connected services complimentary for three years. It includes smartphone-enabled features, including remote engine start, door lock, and unlock.
Not surprisingly, the Model 3's approach to infotainment veers from the conventional by a country mile. In a mild bow to tradition, the 2023 Tesla Model 3 offers standard Bluetooth and USB connectivity, but you'll be disappointed if you want satellite or AM radio. Smartphone fans might be shocked to learn the Model 3 doesn't offer Apple CarPlay or Android Auto.
The Model 3's infotainment lineup includes Netflix, Hulu, YouTube, and several video games to make up for that. None of those are available while driving, for safety's sake. Instead, the automaker includes them to provide entertainment during stops at Tesla Superchargers or other charging stations.
Navigation is standard, along with the Model 3's entry-level connectivity, which is free for eight years. Other functions require premium connectivity, including live traffic visualization, satellite-view maps, video streaming, music streaming, and the internet browser. It's complimentary for the first month and then available by subscription.
Advantage: Hyundai Ioniq 5
2023 Tesla Model 3
The interior of the 2023 Hyundai Ioniq 5 is spare and modern, eschewing Old School trappings like genuine leather in favor of eco-friendly materials. Hyundai covers the seats in the SE with fabric, while those in the SEL and Limited trims are leatherette. An 8-way power-adjustable driver's seat is standard across all three trims. The Limited adds an 8-way front passenger's seat. The split rear bench seat folds 60/40 with reclining seatbacks and fore-and-aft slide adjustment.
The Ioniq 5's long wheelbase and flat floor give the compact crossover a pleasant feeling of openness and space. The twin digital display screens that free up dashboard space that controls would otherwise use enhance that feeling. Happily, the Ioniq 5 doesn't totally eliminate buttons and knobs. They help control the automatic climate system and some audio functions. The futuristic head-up display standard in the Limited trim includes augmented reality functions.
Though shorter overall than the Tesla Model 3, the Ioniq 5 offers more EPA-measured passenger space (100.7 cubic feet). With the rear seatbacks in the upright position, the Ioniq 5 offers 27.2 cubic feet of cargo space. That expands to 59.3 cubic feet with the rear seatbacks folded. The Ioniq 5 delivers a noticeably quiet and comfortable ride.
The Tesla Model 3 has been around for years, but its interior still looks modern and fresh. It does away with the conventional instrument panel, central infotainment display, and buttons and knobs. It centralizes everything in a giant 15-inch display touchscreen. Revolutionary when Tesla first presented the idea, it still rings a progressive note today. The 2023 Tesla Model 3's gear selector isn't mounted on the console. Instead, it's a stalk sticking out of the right side of the steering column. Drivers control most other functions through the digital display.
The radical layout has many benefits. The dash makes a broad sweep across the front of the light, airy, and expansive cabin. The floor of the Model 3 is remarkably flat, and the front bucket seats are well-bolstered and covered in vegan upholstery. The rear seats aren't as comfortable as those in front, but they fold down to allow interior access to the 19.8-cubic-foot trunk. This feature gives the Model 3 station wagon-like cargo-carrying ability.
Advantage: Hyundai Ioniq 5
If you'd like to learn more about these EVs, be sure to read our expert review of the Hyundai Ioniq 5 and research the 2023 Tesla Model 3. 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 April 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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