Hyundai has introduced the 2027 IONIQ 5 in its home market of Korea, pricing the refreshed electric SUV below previous levels. The move extends a broader pricing strategy that saw the automaker slash US prices by nearly $10,000 last year.
The Korean launch comes amid intensifying competition in the global EV market, where manufacturers are grappling with softening demand and rising inventory. Hyundai's pricing adjustment targets both domestic buyers and export markets, aiming to clear the way for higher-volume production of the new model.