Hyundai’s current range of hot hatches and sedans, as well the new all-electric Ioniq 5 N, may not be the outright fastest vehicles in their respective segments, but according to the N division’s chief technical advisor, Albert Biermann, the brand must be king when it comes to the fun they provide per dollar spent by shoppers.
Last week, we participated in a round-table discussion with Biermann during the Australian launch of the Ioniq 5 N at Sydney Motorsport Park. When asked if the Ioniq 5 N will be profitable, the man behind the N division responded affirmatively, stating that the company’s focus on developing parts in-house enables it to make money while delivering vehicles to consumers that are competitively priced.
“Other companies have to pay a high price and go to suppliers,” he said. “We don’t need to do this. We have our own sister companies like [Hyundai] Mobis, like [Hyundai] Transys, like [Hyundai] WIA. This is all in-house. This is all our own stuff. We can deliver a substance, and parts and components, at a price point where we have almost no competition.”
Read: Hyundai Kills ICE-Powered N Models In Europe, Shifts To Hot EVs
In Australia, the entry-level Hyundai i30 N hatch starts at just under AU$51,000 (~$33,200) including all applicable on-road costs. By comparison, a base 2024 VW Golf GTI starts at over AU$62,000 (~$40,300) locally. while the admittedly more powerful and faster Honda Civic Type R commands AU$72,600 (~$47,200).
“My key factor for an N car is the fun-per-dollar,” Biermann said. “How much fun you get for how many dollar, the N car always has to be king. [I’m] not saying we want to have a cheap car but the fun-per-dollar, that is the key point that we need to measure the success and how good an N car is”
“If you look at our N cars, I think every of our N cars is on top in its segment when it comes to fun-per-dollar and with Ioniq 5 N, it’s exactly the same story,” he added. “I think Ioniq 5 N is another good example where we deliver a substantial high-performance car at a price point where almost nobody else can go because it’s all in-house technology.”
Local prices for the Hyundai Ioniq 5 N start at AU$118,620 (~$77,200) driveaway and jump to AU$120,703 (~$78,500) with the optional vision roof. This makes the new EV roughly double the going cost of the i30 Sedan N. Hyundai Australia confirmed to Carscoops that it has already received 116 pre-orders for the high-performance EV after it was announced.
Is the Ioniq 5 N the king of fun-per-dollar EVs? Be sure to check out our review this Friday to find out.
