Edmunds: Ford Mustang Mach-E vs. Hyundai Ioniq 5

It’s an exciting time to be in the market for an electric vehicle. There are more EV options than ever before, and your selection isn’t just limited to compact urban runabouts. The 2023 Hyundai Ioniq 5 and Ford Mustang Mach-E are two such electric SUVs that deliver plenty of range, comfort and utility without sacrificing the driving experience. The vehicle experts at Edmunds take a closer look at these two top-rated SUVs to see which is the better buy.

PERFORMANCE An all-electric SUV was the last thing we would have expected to wear the galloping horse badge, but the Ford Mustang Mach-E definitely lives up to the Mustang name. Available with a single electric motor for rear-wheel drive or dual motors for all-wheel drive, the Mach-E starts with 266 horsepower and can be turned all the way up to 480 horsepower with the hard-charging GT Performance trim. Whichever Mach-E variant you choose, you’ll get an electric car that’s eager to accelerate and feels nimble and engaging for an SUV.

The Ioniq 5 isn’t far behind. The base Ioniq 5 starts off with a single motor and rear-wheel drive for 168 horsepower and tops out with 320 horsepower with dual motors and all-wheel drive. There’s no performance version yet but we expect one to debut for the 2024 model year and have more than 500 horsepower. In Edmunds’ testing, a dual-motor Ioniq 5 was a bit quicker than a comparable Mach-E, getting to 60 mph in 4.7 seconds compared to 5.2 seconds for the Mach-E.

Winner: Ioniq 5