Hyundai is launching its first electric vehicle on a special platform – the compact crossover Ioniq 5 – with aggressive prices that match its ambitious design.

The first batch will hit the US market in late December.

The standard 168 horsepower SE range with 220 miles of EPA range starts at $ 40,925 with shipping. The basic version will only be available in spring 2022, Hyundai announced on Monday.

The SE standard range is equipped with a single motor that drives the rear wheels. When it is launched, the base is the only equipment in the US that has the smaller 58 kilowatt-hour battery.

Hyundai electric vehicles are eligible for up to $ 7,500 US federal tax credit, as well as state and local incentives.

Equipping the Ioniq 5 SE with the larger 77.4 kWh battery and 303 miles of range starts at $ 44,875 with delivery charges. This model also has a motor that drives the rear wheels, but increases the power to 225 hp.

The dual-engine, all-wheel drive SE trim starts at $ 48,375 with shipping. The power increases to 320 horsepower and the range drops to 256 miles, Hyundai said.

The mid-range SEL trim starts at $ 47,125 with shipping for the single-engine version. Adding awd adds $ 3,500 to the sticker. The Limited starts at $ 51,825 with shipping and the Dual-Motor Limited starts at $ 55,725.