The Hyundai Ioniq 5 is one of the hottest electric vehicles to hit the market in the last year if its countless accolades and awards haven’t made it obvious enough. The EV was previewed at this year’s Philippine International Motor Show and Philippine Electric Vehicle Summit by Hyundai Motor Philippines, which said that the vehicle is slated to launch next year.

During its Christmas party for the media, the distributor revealed the vehicle’s variants and pricing, and it’s priced very competitively. It comes in two variants, and they come only in the same GLS trim and only in 2WD form (with single, rear-mounted motor with 215hp and 350Nm). It’s offered either in the standard-range variant for P3.068 million, or the long-range variant for P3.698 million.

The battery capacity and the range figures weren’t announced at the event, but the vehicle should have either a 58kWh or 72.6kWh battery pack, allowing for up to 384km for the standard range or 507km for the long range, based on the WLTP cycle.

Oh, and it will come in four colors: Atlas White, Cyber Gray Metallic, Gravity Gold Matte, and Phantom Black Pearl.

The vehicle’s formal launch should take place in January 2023, so the wait shouldn’t be that long for interested customers.