When it comes to affordable electric vehicles designed for daily driving, both the 2023 Hyundai Ioniq 5 and 2023 Chevy Bolt EV make compelling cases. With 255-303 miles of range on a charge, zippy acceleration, high-tech interiors packed with features, and relatively affordable pricing, these two EVs aim to make the switch from gas painless. But subtle differences set them apart.
As EV options expand rapidly, consumers face challenging choices. Industry-leading range and lightning-fast charging no longer belong solely to luxury brands like Tesla. Mainstream automakers now compete aggressively on range, performance and cutting-edge tech. Hyundai and Chevy illustrate this trend perfectly with their tightly matched sub-$60,000 EVs.
But which one wins for value, driving dynamics and long-term appeal? Let‘s analyze how the Hyundai Ioniq 5 and Chevy Bolt EV compare.
Hyundai Ioniq 5 vs. Chevy Bolt EV: At a Glance
| Specs | Hyundai Ioniq 5 | Chevy Bolt EV |
|---|---|---|
| Price | $41,450+ | $27,495+ |
| Range (RWD) | 220-303 miles | 259 miles |
| 0-60 mph | 5.2 seconds | 6.5 seconds |
| Max Charging Speed | 10-80% in 18 minutes | 100 miles in 30 minutes |
| Cargo Capacity | 27.2 cu ft | 16.7 cu ft |
| Available AWD | Yes | No |
| Max Towing | 2,000 lbs | No Tow Rating |
As the specs above show, both EVs check the key boxes EV shoppers demand: solid range, zippy acceleration, DC fast charging and generous cargo space. But the Hyundai edges ahead in several categories while commanding a significant price premium. Let‘s analyze where each EV excels.
Pricing and Value Comparison
The Chevy Bolt has always stood out for value, significantly undercutting rivals. With a $27,495 starting MSRP including destination fees, the Bolt EV trounces the Ioniq 5 on base price alone. Even comparing the Bolt EV 2LT to the Ioniq 5 SE Standard Range – both decently equipped – shows a $13,955 price difference. That gap can pay for years of home electricity.
Hyundai Ioniq 5
- SE Standard Range: $43,650
- SE: $47,150
- SEL: $50,600
- Limited (AWD): $55,500
- Limited (RWD): $58,500
Chevy Bolt EV
- 1LT: $27,495
- 2LT: $31,995
For buyers focused purely on value and low ownership costs, the Chevy Bolt EV wins hands-down. But Hyundai packs more desirable features into its higher trim levels. All-wheel drive, a heat pump system, dual 12.3" displays, Highway Drive Assist 2 and Vehicle-to-Load (V2L) charging give Ioniq 5 buyers more for their money.
Driving Range and Charging Analysis
Range anxiety still deters some drivers from switching to electric. But with over 250 miles range on a charge, both the Bolt EV and Ioniq 5 pack enough juice for lengthy road trips. The Hyundai pulls ahead on driving range, but GM‘s vast charging network helps even the score.
Range
All Bolt EVs deliver an EPA-rated 259 miles per charge. Available only in rear-wheel drive, power flows through a single electric motor. Efficiency from its 65 kWh battery pack impressively nearly matches the RWD Ioniq 5.
Hyundai takes the range crown with:
- 303 miles (RWD Standard Range)
- 256 miles (AWD Standard Range)
- 303 miles (RWD Extended Range)
- 244 miles (AWD Extended Range)
The extra range comes courtesy of a larger 77.4 kWh battery pack. Cleverly, Hyundai stacks drive modules and cooling parts vertically to minimize intrusions into the cabin. Still, if sheer driving distance on a charge trumps other factors, the stellar RWD Ioniq 5 Limited model wins out.
Charging
Both EVs charge rapidly at DC fast charging stations. Their maximum charging rates differ only slightly:
- Chevy Bolt EV: Up to 100 miles in 30 minutes (55 kW max)
- Hyundai Ioniq 5: 10-80% in 18 minutes (220 kW max)
Hyundai‘s 800V electrical architecture enables its speedy charge times. But with over 40,000 DC fast charging plugs nationwide, Chevy Bolt EV owners still enjoy excellent charging access for road trips. At home using Level 2 charging, the EVs largely tie at around 7 hours for a full charge.
The verdict? While the Ioniq 5 carries you farther on a single charge, Chevy‘s vast charging network helps even the score.
The Hyundai Ioniq 5 offers livelier handling and optional AWD, plus 303 miles range on RWD models. ©Darren Brode/Shutterstock
Performance and Driving Dynamics
On paper, the two EVs seem closely matched on performance with 0-60 mph times under 6.5 seconds. But get behind the wheel and differences emerge.
"The Ioniq 5 provides a little more driving enjoyment than the Bolt EV," said Alex Kalogiannis, editor at EVAdoption. "Its low center of gravity and multi-link rear suspension give surprisingly agile handling for a crossover."
Motor Trend agreed, adding “The Ioniq 5 proved the more stable handler, with flatter cornering and better body control.”
Optional all-wheel drive also boosts the Hyundai‘s handling and grip when desired. Though no speed demon, its tidy dimensions and composed chassis make driving more engaging. Accelerating up to highway speeds feels smooth and quick enough for merging.
The Bolt EV prioritizes comfort over corner-carving agility. Motor Trend described its soft suspension tuning as limiting around corners. Ride quality leans more cushioned and floaty than taut and tied-down. Traction from the front-mounted electric motor proves perfectly adequate for most driving scenarios.
Both EVs absorb imperfections without harshness and avoid excessive road noise. Their low ride heights do occasionally produce jarring impacts on poor roads. Overall, families will find both comfortable compact runabouts for everyday use. But driving enthusiasts should take the sportier, AWD-equipped Ioniq 5.
Interior Space and Cargo Capacity
Buyers expect versatile hatchbacks and crossovers to juggle passengers and cargo with ease. Here the Ioniq 5 enjoys key advantages stemming from its larger size and boxier shape.
With dimensions of 182.5" x 74.4" x 63.2", the Hyundai stretches half a foot longer than the Bolt EV. Clever interior packaging creates a airy, open cabin ambiance. “The Ioniq 5 feels downright cavernous inside,” wrote Car & Driver, “with acres of space for people and their things.”
Up front, the sensation continues with a completely flat floor, lacking a center tunnel. This gives both rows of seats plenty of foot room. Grab handles, door pockets and trays ensure optimal storage space as well.
Behind the rear seats, the Ioniq swallows 27.2 cubic feet of cargo, over 10 cubes more than the Chevy. Drop the 60/40 split rear seats to enjoy 59.3 cubic feet of storage in the Hyundai. Smaller items can be stashed under the trunk floor as well.
The Bolt EV falls behind on both passenger space and cargo flexibility. A protruding battery pack forces higher floor panels that cut into rear foot room. And despite clever packaging, its shorter hatch can‘t compete with the Ioniq 5‘s cavernous cargo hold.
For shoppers needing to haul bulky items like strollers, golf clubs or camping gear, the Ioniq 5 provides vastly superior utility. Families will also appreciate the extra wiggle room for child seats and passengers.
Technology and Connectivity
Modern drivers expect seamless smartphone integration, charging convenience and an intuitive infotainment experience. Both the Ioniq 5 and Bolt EV deliver satisfying tech, but Hyundai pulls ahead with its dual displays, unique features and OTA update capability.
Hyundai dazzles with a minimalist cabin capped by twin 12.3” displays for instrumentation and infotainment duties. Harmonizing colors, materials and lighting effects project warmth and high-tech appeal. V2L charging outlets front and rear enable owners to top off phones, laptops, camping gear and more.
Over-the-air (OTA) software update capability also keeps things fresh via WiFi. Expect enhancements to range, battery management, charging and apps over time. Wireless Apple CarPlay/Android Auto, multiple USB ports, optional Bose audio and available rear seat entertainment ensure all passengers stay occupied and charged.
Chevy brings user-friendly tech too, including:
- 10.2” touchscreen with wireless Apple CarPlay/Android Auto
- Customizable 8" driver display
- Multi-color ambient interior lighting
- Optional 7-speaker Bose audio
- Available wireless phone charging
Lighted charging indicators, the digital rear camera mirror and Energy Assist functions add appeal. Still, the Bolt EV‘s less cohesive and colorful tech presentation underwhelms next to the flashier Hyundai. Shoppers wanting both form and function should lean Ioniq 5.
Safety Tech and Driver Assistance Systems
Safety leads the list of family vehicle must-haves. Happily, both the Hyundai Ioniq 5 and Chevy Bolt EV shine with advanced driver assistance tech to detect hazards and prevent accidents. However, Hyundai edges ahead with its Remote Smart Parking Assist feature.
Standard on all Hyundai Ioniqs is Forward Collision Avoidance with pedestrian detection, blind spot monitoring and rear cross traffic alerts. SE models and above add impressive Highway Driving Assist 2, which integrates adaptive cruise and lane centering for hands-free highway operation.
Chevy‘s Safety Assist package counters with pedestrian braking, front collision alerts, following distance indicators and lane keep assist with departure warning. The Bolt EV lacks more advanced hands-free highway driving capability, a curious omission.
Hyundai also offers both regular and surround view camera systems to ease parking. Best of all, the Remote Smart Parking Assist actually steers the Ioniq 5 into parallel and perpendicular spaces while you stand outside it. Helpful when navigating tight parking garages and spots.
Overall, both autos provide reassuring assistance to prevent accidents through visual, audible and haptic alerts. But we give the nod to Hyundai for doing more to actively intervene when danger lurks.
Warranties and Ownership Costs
When investing $40-60,000 in a new vehicle, long-term ownership costs become a concern. Will expensive battery or electric drive repairs pop up years down the road? Hyundai and Chevy both alleviate range anxiety and costly repair worries with lengthy EV warranties. The key numbers:
2023 Hyundai Ioniq 5 Warranty
- 5 years / 60,000 miles bumper to bumper
- 10 years / 100,000 miles powertrain
- 8 years / 100,000 miles electric components
- 8 years / 100,000 miles electric battery
2023 Chevy Bolt EV Warranty
- 3 years / 36,000 miles bumper to bumper
- 5 years / 60,000 miles powertrain
- 8 years / 100,000 miles electric battery
- 5 years / 60,000 miles electric components
The Hyundai warranty runs 2-3 years longer on critical EV components to ease ownership worries. Coupled with lower projected maintenance costs than gas cars, the Ioniq 5 looks more attractive from a long-term cost perspective.
Home and public charging costs run very similarly between the two EVs at around $700-1,000 per year for typical drivers. EVgo network access comes standard with new Bolt EVs currently, while Ioniq 5 owners can sign up for discounted charging plans via Electrify America, EVgo and others.
5 Key Conclusions: Ioniq 5 vs. Bolt EV
- The Chevy Bolt EV wins for base price and overall value, undercutting the Ioniq 5 by over $13,000
- The Ioniq 5 wins for driving range (RWD models), interior space, cargo flexibility and tech
- The Bolt EV excels for ride softness and charging convenience with 40,000+ DC fast plugs nationwide
- Performance, AWD traction and driving refinement favor the sportier Ioniq 5
- Hyundai’s longer EV component warranty offsets ownership cost concerns
For budget-focused buyers wanting new EV functionality at used ICE car pricing, the Chevy Bolt remains unbeaten. Its impressive range, peppy acceleration and welcoming cabin still satisfy for around $27,000.
But as the more refined, tech-savvy and future-forward design, the 2023 Hyundai Ioniq 5 brings sensational style, space and features for under $60,000 in its top trims. Hype around Hyundai‘s styling feels justified. With class-leading range from its RWD models, the Ioniq 5 sets new expectations for affordable EV excellence.
Recent Improvements: Ioniq 5 and Bolt EVs
With rivals chasing hard, Hyundai and Chevy continue optimizing these electric models. Recent updates bring more value through added features and functionality.
2023 Chevy Bolt EV Changes
- DC Fast charging port now standard ($750 value)
- New exterior colors Cayenne Orange Metallic and Radiant Red Tintcoat
- Light stone leather seating on 2LT
- Redesigned 17” alloy wheels
- Trailering package deletes rear parcel shelf
2023 Hyundai Ioniq 5 Updates
- Increased range for RWD Standard Range from 220 miles to 303 miles
- New Suede Sage Green exterior color
- Puddle lamps added for Limited trim
- Power folding mirrors added for SEL models
- Available second-row captain’s chairs
Software enhancements behind the scenes likely continue as well to polish performance. With Samsung battery tech and 800V electrical systems, Hyundai still leads for theoretical maximum charging speed. But GM‘s Ultium battery tech continues advancing too, so gaps may narrow over time.
What Does the Future Hold?
Exciting developments lie ahead for both the Ioniq 5 and Bolt EV in coming years. Owners can expect fresh features and functionality via:
- Enhanced Battery Tech: Improved anode and cathode materials with higher energy density increase range while ensuring longevity
- Faster Home Charging: More powerful Level 2 home charging stations cut charging times
- Quick Charging Boosts: New pumps allow quicker DC fast charging for reduced pit stops
- Wireless Charging Advances: Magnetic resonance tech charges EVs simply by parking over charging pads
- Self-Driving Upgrades: Radar, camera and mapping upgrades enable hands-free highway driving
- Continuous OTA Updates: Over-the-air software enhancements add range, new apps and better performance
Given Hyundai‘s aggressive pace of innovation, we anticipate even more compelling Ioniq 5 variants arriving soon. Word is that performance and sportier N-Line versions are under development to elevate driving fun.
Chevy has strongly hinted at fresh styling and tech upgrades to the Bolt EV/EUV over the next 2-3 years as well. GM‘s confirmed investment in battery plants also bodes well for range and charging improvements. Plus next-gen Ultium platform EVs from Chevrolet, GMC and Cadillac are targeting 400+ miles per charge to leapfrog rivals.
Savvy shoppers should closely track ProPILOT assist upgrades from Nissan, Tesla‘s price cuts in response to growing competition, and potential resuscitations of EV tax credits under the revived Build Back Better bill. The EV space promises to remain intensely competitive with legacy automakers battling new startups and tech firms for market share.
Among affordably priced electric crossovers, few match the well-rounded blend of value, quality and ownership appeal of the 2023 Hyundai Ioniq 5. For buyers wanting an EV bursting with both substance and style for under $60K, it can‘t be beat. The entire Ioniq 5 lineup merits consideration for most EV shoppers based on range, performance, and ownership value.
