Back in 2008, when Tesla first introduced the Tesla Roadster, it had a price tag of  $80,000-$120,000. Not many people could afford that price. However, as EV technology has matured, the prices have begun to come down, which has allowed more consumers to afford an EV of their own, such as in the case of the Chevy Bolt EUV.

The 2022 Chevy Bolt EUV’s affordable price and reliability are just a few of the many attractive features that Chevy has built into this electric vehicle. In the growing field of EVs, the Bolt EUV has been a standout vehicle due to its spacious interior and comfortable ride. 

However, the Hyundai Ioniq 5 is a tough competitor for the Bolt EUV. The Ioniq 5’s speedy acceleration from 0 to 60 mph in 4.7 seconds is accomplished with the help of an impressive 320 horsepower from the front and rear electric motors, which provide all-wheel drive. Consumer Reports gave the Ioniq 5 better scores, but the Bolt EUV has some impressive features as well. 

How does the Bolt EUV stack up to the competition? Here are three reasons to buy the 2022 Chevy Bolt EUV instead of the Hyundai Ioniq 5.

1. Affordability

The Chevy Bolt EUV has a starting MSRP of $33,500, while the Hyundai Ioniq has a starting MSRP of $39,950. However, GM products are no longer eligible for the EV tax credit, while the Hyundai Ioniq 5 is eligible for a tax credit of $7,500, according to Consumer Reports.

According to Cars, the reason for this is that whenever a car manufacturer sells 200,000 vehicles, the EV tax credit is lowered. First, it is halved to $3,750, then halved again after a time, and then ultimately being phased out completely. Tesla and GM ran out of EV tax credits in 2019. With Hyundai’s big EV push, that tax credit will likely run out in the next few years for Hyundai as well.

2. Faster charging time

Charging time is one of the most important features you will want to look at when purchasing an EV. The difference could mean spending 30 minutes at a charging station or 1 hour. If you are on a road trip, this becomes even more important because this will add to the overall travel time of your trip.

The Chevy Bolt EUV needs 7.5 hours at 240V to fully charge, and the Ioniq 5 needs 8.5 hours at 240V. However, the Bolt EUV has a range of 247 miles with a smaller 65-kWh battery, while the Ioniq 5 has a range of 256 for the single-motor, rear-wheel-drive version with the 77.4-kWh battery.

The trade-off here is that you get a smaller battery with the Bolt EUV, but it doesn’t take as long to charge. Unless you will be traveling long distances frequently, the Bolt EUV is a better choice for faster charging.

3. Less weight

The Chevy Bolt EUV is lighter than the Hyundai Ioniq 5. It has a curb weight of 3,680 lbs, and the Ioniq 5 has a curb weight of 4,414 lbs. The Ioniq 5 has a length of 183 inches, while the Bolt EUV has a length of 170 inches. The shorter length helps for several reasons.

Less weight means better maneuverability and better fuel economy. In the city, the Bolt EUV gets 125 MPGe while the Ioniq 5 gets 110 MPGe. On the highway, the Bolt EUV gets 104 MPGe while the Ioniq 5 gets 87 MPGe.

The push for EV domination is now in full swing, and car manufacturers are investing heavily in EV production and manufacturing. By 2035, GM claims it will exclusively build electric vehicles, Ford says all its cars sold in Europe will be electric by 2030, and Volkswagen estimates electric vehicles will account for 70% of total sales by 2030. Hyundai is making a strong showing with their lineup of EVs, but they have a way to go to catch up with heavy hitters like GM and Ford.