Hyundai Reveals Electric Car Battery Prices Are More Expensive Than One LCGC Unit

Hyundai Ioniq 5. (Doc. Hyundai Motor Group)

JAKARTA - It is no longer a secret that batteries are the most expensive component in electric vehicles, which is the cause of high electric car prices.

This fact is due to the complexity of developing batteries for electric vehicles that require high-quality materials, so the price is quite high, with the range ranging from Rp. 300 million to Rp. 400 million or even more, exceeding the average price of LCGC cars which are usually below Rp. 200 million.

Fajar Ahya, as the Assembly Process Engineer at PT Hyundai Motor Manufacturing Indonesia (HMMI), explained that the price of a set of batteries for the Hyundai Ioniq 5 almost reached half the price of the car itself.

"The battery component is the most expensive, at a price of around Rp. 300 million for the standard version and around Rp. 400 million for the version of Ioniq 5 which has a longer range," Fajar said, as reported by ANTARA, Monday, October 2.

The competitor from Toyota bZ4X has a high capacity battery, namely 72.6 kWh for the Long Range variant and 58 kWh for the Standard Range variant. This battery is a resource for synchronous magnetic permanent electric motors capable of generating 211 dk of power and torque of 350 Nm.

Fajar also revealed that the local production of Ioniq 5 in the country reaches around 1,200 units per month. However, this local assembly is only intended for the Indonesian market and not for export.

"In normal conditions, we produce 1,000 to 1,200 Ioniq 5 units per month," added Fajar.

In Indonesia, Hyundai offers several variants for Ioniq 5, including Prime Standard Range as the lowest variant with a distance of up to 384 km at a price of Rp759 million. Meanwhile, the highest variant, namely Prime Long Range with a distance of 481 km, is priced at Rp800 million, and Signature Long Range with the ability to reach 451 km is sold for Rp870 million. All variants are equipped with the latest feature, Bluelink.

Thanks to his extraordinary design and performance, Ioniq 5 won a prestigious award, including the title "World Car of the Year 2022."