Ioniq 5 vs. Mach-E vs. bZ4X – Quick Comparo

I have had the recent privilege of sampling quite a few new EVs coming onto the market and figured I am in the position to provide some useful consumer advice (for once). Within the span of a week, I got to spend time with the new 2022 Hyundai Ioniq 5, and the not-even-released 2023 Toyota bZ4X, and experience them alongside my 2021 Ford Mustang Mach-E. You can read the individual reviews of each EV via the links above for more specifics on each car. Plus, technically the Mach-E in that particular review was a press loaner, but I liked it so much I bought an almost identical one. Don’t worry, I’ll make sure my journalistic credibility and lack of bias survives this comparison.

This comparison will evaluate the Ioniq 5, Mach-E, and bZ4X with regard to price, range, power, and practicality. Which one will come out on top? Let’s get at it!

EV Comparo Basics – MSRP

First, let’s take a quick look of where Ford, Hyundai, and Toyota position these hatchback EVs in the market. Well, for starters they are all compact crossovers which means they are roughly the same size. More on the specific measurements in a bit, but understand up front that they are darn close in length, width, etc., but let’s start with the all important factor of price!

2022 Hyundai Ioniq 5

The base Ioniq 5 now starts with a new SE Standard Range at $39,950 that was added after I tested the Limited loaner. Meanwhile, the regular SE starts at $44,000, the mid-level SEL comes in at $2,250 more ($46,250), and the top spec Limited starts at $51,100. None of those prices include government subsidies (Hyundai EVs are currently eligible for the $7,500 tax credit).

2022 Toyota bZ4X

The bZ4x currently comes in two trim levels, XLE and Limited priced at $42,000 and $46,700 respectively. Toyota will likely surpass the 200,000 vehicle limit on tax credits in the near future, like this summer (2022). So, expect the full $7,500 credit to sunset around the end of September 2022. That means that for October 2022 through March 2023 the credit will drop to $3,750, then down to $1,875 over the next six months, and by October 2023 it’s all gone.

2021-2022 Ford Mustang Mach-E

The base Mach-E Select started at $42,895 for 2021, while the Premium Mach-E (like my car) started at $47,600, the California Route 1 trim starts at $50,400, and the GT mode is close to $60,000. For 2022, those prices all go up $1,000 or more. The 2022 Select is $43,895, the Premium starts at $48,775, California Route at $52,450, and the GT at $61,995.

The quick table below shows the overall spread over starting MSRPs.

Comparo Winner (Price) – Ioniq 5

The Ioniq 5 ends up with a $45,325 average price across all trims, which was slightly above the $44,350 average price for the bZ4X. However, it has the lowest starting price and still has open incentives giving it the nod for pricing.

Obviously there is more to the MSRP story than just where the MSRP starts. The mix of power, range, and drivetrain can make the story much more complex. For example, all Ioniq 5, bZ4X and Mach-E models have available AWD (except the Mach-E GT, where it’s standard). So, prices can fluctuate based on what you select. So, let’s continue and see how all of those affect the pricing and figure out which one is the best EV to plug in at your house.

EV Comparo – Range

Each of the three contenders comes with a choice of AWD, extended range batteries, and single vs. dual motor options available across most trim levels. Let’s see how the Mach-E, Ioniq 5, and bZ4X stack up with regard to estimated range.

2022 Mach-E – Range

2022 Ioniq 5 – Range

2023 bZ4X – Range

Comparo Winner (Range) – Ioniq 5

While the Mach-E delivers some solid 300+ range numbers, the higher average range for the Ioniq 5 put’s it over the top. Obviously your real-world results may vary, but in this case superlatives also go to the Mach-E as well for cracking the 300-mile mark. Important note, the 2022 Mach-E range numbers jumped up a bit since my purchase of a standard range Premium that gets closer to 230 miles of range. Depending on your EV needs, any 200+ mile range will work for everyday use. Longer trips will require some pre-planning (or an internal combustion option available) until the EV charging network improves a bit.

EV Comparo – Power

When EVs first came on the market, a lot of us hoons were skeptical. “It’s too quiet”, “it’ll never be fun to drive”, that sort of thing. Well, that’s definitely not how things worked out. Modern EVs, with a few exceptions, are all quite quick and can be fun to drive. Here is a quick power comparison across these three contenders.

2022 Mach E – Power

2022 Ioniq 5 – Power

2023 bZ4X – Power

Comparo Winner (Power) – Mach-E

This one wasn’t even close, the Mach-E averages nearly 80 horsepower more across all trim levels than the 2nd place Ioniq 5. Plus, if you want a performance-focused EV from this trio, the GT is impossible to beat. The Hyundai would take the 2nd spot here, easily overpowering the lower horsepower and torque numbers found in the bZ4X.

EV Comparo – Practicality

These EVs are also all pretty practical hatchbacks. Let’s take a quick peek at how they (literally) measure up to each other.

Measurements

Comparo Winner (Practicality) – Mach-E

The Ford comes in on top with regard to interior space, all while managing to not be the tallest or widest. However, make sure that extra 1-3 inches of length isn’t a deal breaker for your parking situation. Clearly it was where they added all that extra cargo space. (but remember, car no go space, car go road!). All of these hatchback EVs will make easy work of your daily commute. Each did great in my experiences with hauling kids to school and sporting events.

EV Comparo – Results!

It’s time to pick a winner. All three of these batter-electric crossovers are similarly sized, similarly priced, and generally come with similar features and options. I didn’t have time to get into a detailed comparison of exactly what you get for the money in each car with regard to standard stuff, but you can read my comprehensive reviews to get more details on that. This comparison was primarily based on price, range, power, and practicality and there can be only one winner. And it’s the Hyundai!

1st Place – Ioniq 5

The Ioniq 5 not only looks fantastic, which is a subjective aspect of this comparison, but it also features an impressive entry price of under $40,000 (not including government incentives), a great average range of nearly 256 miles across all trim levels, impressive power, and comparable practicality compared to the competition in this comparo. It’s as good as you’ve heard.

2nd Place – Mach-E

However, you can’t go wrong with a Mustang Mach-E and it finishes a very close second. I love mine and it’s a great mix of fun and practicality as well. Don’t forget to read my full review of the 2021 Mach-E for some more thoughts. And if anyone wants to send me a new front splitter to feature, let me know. My wife got into a disagreement with a curb.

3rd Place – bZ4X

My experience in the bZ4X was fine, it just doesn’t end up feeling as engaging or look as good as the Ioniq 5 or Mach-E. The Toyota bZ4X just needs a bit of time in the oven to really compete with these two, but I’m sure Toyota is hard at work and this and the other dozen or more EVs they have promised are on the horizon.

Regardless, thanks for reading, the future is now! Hopefully some of these direct comparisons between the Ioniq 5, Mach-E, and bZ4X will help you shop for your next vehicle.