Hyundai Ioniq 5 vs. Tesla Model 3: In-depth Comparison to Decide the Winner

The electric vehicle (EV) market continues to grow at a rapid pace. As more options hit the market, consumers considering an EV have some big decisions to make. Two of the most popular EVs vying for buyers‘ attention right now are the Hyundai Ioniq 5 and Tesla Model 3.

On the surface, both seem like attractive options. The Ioniq 5 turns heads with its sleek, retro-futuristic styling. The Model 3 offers excellent performance specs and access to Tesla‘s vast charging network. But how do these EVs truly stack up across all of the factors that matter most?

I‘ve conducted an in-depth, side-by-side analysis of the Hyundai Ioniq 5 and Tesla Model 3 to highlight all of the key similarities and differences. Read on to see how these two EVs compare on:

• Pricing and Cost of Ownership
• Performance and Driving Experience
• Range and Charging Ability
• Interior Space and Cargo Capacity
• Technology and Connectivity
• Safety and Driver Assistance Features

I‘ll also discuss how both EVs are likely to improve over time and provide my straightforward verdict on which vehicle claims victory in this head-to-head EV battle.

At a Glance: 2023 Hyundai Ioniq 5 vs. Tesla Model 3

Before jumping into the details, here is an at-a-glance overview of how the two base versions of the 2023 Hyundai Ioniq 5 and Tesla Model 3 measure up across some key specs:

Price and Ownership Costs: Significant Savings with the Ioniq 5

For many buyers, the purchase price and longer-term cost of ownership are big factors when comparing EVs like these. The good news is that both the Ioniq 5 and Model 3 come at relatively affordable prices compared to most EVs in their segments. However, Hyundai still manages to clearly undercut Tesla when it comes to upfront pricing.

The entry 2023 Hyundai Ioniq 5 SE with a single RWD motor starts at $41,450 before any federal or state-level EV incentives are applied. The most basic 2023 RWD Tesla Model 3 now sells for $43,990. Going up just one trim level for more features bumps the Ioniq 5 price to $45,500 and the Model 3 to $53,990.

Already we‘re looking at a $2,500+ lower starting price for similar base models of the Ioniq 5. That difference can potentially grow even larger once you account for fuel savings and other ownership costs over 5+ years.

InsideEVs conducted a cost of ownership analysis over 6 years comparing the Ioniq 5 against the Model 3. They estimated that drivers would save nearly $4,000 in total costs with the Hyundai. The vast majority of that savings comes from not having to pay for any maintenance, oil changes or similar with the electric Ioniq 5 versus what will be required with the Tesla.

Hyundai also includes scheduled maintenance for 3 years at no charge. The included maintenance plus strong warranty coverage (see more below) gives buyers more long-term peace of mind.

Winner: Hyundai Ioniq 5

Performance and Driving: Model 3 Still Reigns Supreme

Performance, acceleration and overall driving dynamics are important aspects of the EV ownership experience for lots of buyers – especially early adopters drawn to EVs in part for the exhilarating instant torque. By these measures, the Tesla Model 3 is still tough to beat even as the Ioniq 5 puts up impressive numbers of its own.

Let‘s start with acceleration and power. The single motor RWD Hyundai Ioniq 5 hits 0-60 mph in a manufacturer-claimed 5.2 seconds. Opting for the available dual-motor AWD cuts that time to 4.7 seconds. However, the RWD Model 3 is still a bit quicker at 5.8 seconds while the AWD variant drops to just 4.2 seconds according to Tesla.

We see a similar story play out when comparing horsepower. The Ioniq 5 RWD/AWD produces 225/320 hp respectively. The Model 3 RWD puts out 283 hp standard or 336 hp with the optional performance boost. Choose the Model 3 dual motor AWD and output leaps to 417 hp.

So while hardly slow by any measure, the Ioniq 5 can‘t quite match the off-the-line jump and passing power that the Model 3 AWD configurations offer. Enthusiasts that prioritize acceleration and driving dynamics would likely favor those Model 3 Performance and AWD versions that unlock the vehicles full potential.

Now to handling and ride quality. Here we see more even results. Reviewers praise both vehicles for responsive steering and solid cornering abilities without being overly stiff or uncomfortable over bumpy roads. The low-slung battery placement gives both a stable planted feel through turns. The Model 3 holds an edge for feeling sportier overall. But a software update in late 2022 did improve the Ioniq 5‘s suspension and steering for better control in curves.

In the end, there are certainly no glaring performance flaws that would turn off potential buyers cross-shopping these two. The Model 3 sets a higher bar for pure acceleration and fun-to-drive qualities. Yet the peppy Ioniq 5 still offers a pleasing driving experience of its own. Those less concerned with faster 0-60 runs and track handling will likely be very satisfied with what the Hyundai brings to the table on performance.

Winner: Tesla Model 3

Range and Charging: Extremely Close Competition

Range anxiety still looms large for some making the switch to EVs. But both the Ioniq 5 and Model deliver over 200+ miles on a full charge – enough to ease most fears for the everyday commuter. Digging further, the two end up looking extremely evenly matched when you compare real-world range estimates and fast-charging capabilities.

On range, the EPA gives the edge to the Ioniq 5 at 256-303 miles depending on RWD vs AWD powertrain. The Model 3 Long Range is EPA rated at 358 miles but the Model 3 RWD most buyers will purchase sits between 272-315 miles. Real-world test suggest both EVs generally meet if not exceed slightly their EPA estimates in normal driving.

DC fast charging rates are nearly identical too. Both vehicles have 800V electrical architectures that support speeds up to approximately 250 kW. That lets drivers add about 200 miles of range in just 15 minutes of charging when conditions allow. The Ioniq 5 may have a slight advantage at ultra-fast 350 kW chargers that can take it from 10-80% in 18 minutes per Hyundai. But Tesla‘s vast Supercharger network still provides more overall fast charging access.

Bottom line – whether you pick the Ioniq 5 or Model 3, you‘re getting an EV capable of crisscrossing between charges when needed and then rapidly powering back up to continue journeys. Unless you need maximum range for long road trips or frequent rural driving, either vehicle checks the box for range and charging.

Winner: Tie

Interior Space and Cargo: Ioniq 5 Pulls Ahead

Ample interior room and cargo space ensure an EV can still handle passenger and gear-hauling duties as well any gas-powered crossover. Here we find one of the biggest contrasts between the Hyundai and Tesla.

The Ioniq 5‘s larger exterior proportions translate into a roomier cabin with an airier feel thanks to smart packaging and layout. Front and rear seated passengers enjoy lots of leg room and head clearance. Getting in and out is easy too thanks to the tall ride height. Even tall adults won‘t feel crunched for space.

Cargo room is equally impressive. Rear seats folded, you have 59.3 cubic feet to load furniture, luggage and other bulky items. It offers crossover/small SUV practicality not always found in EVs that skew smaller. Add in clever storage cubbies and trays throughout the modern interior and the Ioniq 5 simply offers more utility than the Model 3.

Make no mistake – the Model 3 interior remains comfortable for 4 adults and their daily essentials. But the lower roofline and sportier silhouette sacrifice some functionality versus the more upright Ioniq 5. Tesla quotes 15 cubic feet of cargo space versus 27.2 cubic feet for the Hyundai. That nearly 50% gain with the rear seats down gives the Ioniq 5 meaningful cargo advantages over the Model 3 sedan.

Winner: Hyundai Ioniq 5

Technology and Connectivity: Two High-Tech Approaches

Modern vehicles rely more and more on screens, software and connectivity to deliver features owners expect. EV shoppers likely put extra emphasis on having the latest technology built-in too. Both the Ioniq 5 and Model 3 take very different approaches to their infotainment systems and onboard gadgets – each with intriguing benefits.

The Tesla Model 3 commits fully to its polished, 15-inch center touchscreen to handle almost all vehicle controls and entertainment needs. Everything from music to navigation to climate settings to driving data to gaming resides on this single interface (along with voice commands). Some love the clean, uncluttered look it enables. Through constant over-the-air software enhancements too, Tesla has proven adept at building a rich digital ecosystem inside the Model 3.

Hyundai counters the Model 3‘s ultra-minimalism with the Ioniq 5‘s "high-tech living space". Dual 12.3-inch displays provide one screen for instrumentation and a second touchscreen for infotainment. The comprehensive tech suite includes wireless Apple CarPlay/Android Auto, multiple USB ports, an augmented reality head-up display, mood lighting and more. Physical knobs and buttons still control key functions like volume and climate too – unlike the touchscreen-only Model 3.

Which approach works best ultimately comes down to personal preference. But the Ioniq 5 gives owners the latest connectivity without fully eliminating traditional controls. For less tech-savvy motorists, that may prove more comfortable long-term.

Advanced driver assistance tech (see safety section below) seems on par between both as well thanks ongoing OTA updates. Customizable vehicle settings, entertainment options, and useful travel data all get presented innovatively no matter which model you pick too.

Winner: Tie

Safety and Driver Assistance: Cutting-Edge Systems All Around

Safety should rank high when choosing any family vehicle including EVs. Reassuringly, both automakers equip their EVs with comprehensive active safety technology. Between lane keeping assist, automatic emergency braking, blind spot warnings and more – the Ioniq 5 and Model 3 help reduce accidents with semi-automated driving aids.

The Hyundai SmartSense suite available on the Ioniq 5 bundles the latest advanced driving assistance capabilities together for added peace of mind. Tesla‘s Autopilot platform plays a similar role with continual improvements coming via OTA software updates. Both systems effectively steer, brake and accelerate the EVs automatically in certain conditions with driver supervision.

Crash safety remains robust as well. The Ioniq 5 earns top marks across testing benchmarks like the IIHS and NHTSA evaluations. The Model 3 achieves similarly high praise including NHTSA‘s maximum 5-star rating across all categories. The latest battery designs now minimize fire risks too that garnered headlines for earlier EVs.

Finally, it‘s worth noting the Ioniq 5 warranty coverage generally outpaces the Model 3‘s. Hyundai provides 5 years/60,000 miles of complimentary roadside assistance (versus 4 years with Tesla), plus 10 years/100k miles of powertrain coverage and even an 8-year/100k miles electric system warranty. Hopefully you won‘t need to use the generous Hyundai warranties, but they offer peace of mind.

Winner: Tie

What Does the Future Hold?

Part of finding the "right" EV today involves anticipating what upgrades or changes may still come during your ownership period. Here‘s a quick look at what likely lies ahead for the Ioniq 5 and Model 3.

Hyundai Ioniq 5 – Fresh off its Best Cars 2023 awards from Car and Driver, expect the Ioniq 5 momentum to continue. Hyundai could tweak styling but more importantly will look to bump range towards 350+ miles for 2024 models. Further over-the-air updates should enhance performance and tech too. An all-wheel-drive performance model with the latest E-GMP platform tuning seems plausible as well to ratchet up driving excitement.

Tesla Model 3 – America‘s best-selling luxury car for several years now, Tesla is primed to unleash a refreshed Model 3 that pushes boundaries even further. A major interior redesign looks likely in late 2023 to early 2024 based on Elon Musk comments. Expect a more premium cabin with advanced comfort and safety features. Range should creep higher too perhaps nearing 400 miles for Long Range variants. New generation AMD processors and sensors may take Autopilot another step towards self-driving readiness as well.

No matter what unfolds, both automakers seem committed to ensuring these high-demand EVs only get better over time for owners.

The Verdict: Which Is the Better EV Pick Overall?

So when all is said and done, does one model clearly overtake the other? In my opinion, the Hyundai Ioniq 5 finds the right balance of innovation, practicality and value to claim the narrow victory when pitted head-to-head against the market-leading Tesla Model 3.

Now before any Tesla fans protest, the Model 3 absolutely still lives up to its reputation for blazing acceleration, tech-savvy design and everyday usability that made it an instant hit initially. Some may even prefer its sleeker looks and hyper-focused touchscreen interface.

Yet as the EV options grow, alternatives like Hyundai‘s Ioniq 5 prove that competitors can now match and even surpass Tesla in certain areas prized by EV adopters. The Ioniq 5‘s smooth efficient powertrain, smartly futuristic interior space, lower cost of ownership and strong standard safety equipment check all of the major boxes car shoppers demand. Throw in the hoped-for bonuses like 375+ miles of driving range and AWD performance versions later on, and you have an exceptionally well-rounded EV package.

In the end, think of it this way – the Model 3 retains its edge among EVs if you yearn for agile handling and acceleration above all else. But for the majority of shoppers eager to combine next-gen style, cutting-edge tech and family-friendly flexibility at a fair price point, the impressive Hyundai Ioniq 5 secures the win.

I hope my comprehensive head-to-head evaluation provided meaningful insights to help determine whether the exciting Ioniq 5 or formidable Tesla Model 3 is better aligned with your EV wants and needs. Both push EV excellence forward – yet the Hyundai hits the sweet spot across more factors to emerge as today‘s EV front-runner that I can recommend to most buyers.

Thanks for reading my in-depth comparison! Please share any thoughts or questions in the comments sections below on the Hyundai Ioniq 5, Tesla Model 3 or other electric vehicles I should analyze in future articles.