Platform and parts sharing is common practice in the modern automotive industry. OEMs such as the Volkswagen Group, Stellantis, the Renault-Nissan-Mitsubishi Alliance and the Hyundai Motor Company are all known to share components and architectures between their brands as a method of reducing R&D and production costs. But how do these platform and part sharing vehicles compare in terms of cost, feature fitment and performance?

In this newsletter, the vehicle brands parented by the Hyundai Motor Company will be compared by analyzing their flagship EVs, the Hyundai IONIQ 5, KIA EV6 and Genesis GV60 – all of which share the same Electric Vehicle Platform (Hyundai’s E-GMP).

Feature Comparison

Using VehiclePlannerPlus, the three EVs can be compared using the fitment of important features for this type of vehicle. These features have been identified as being both important and useful to a modern-day EV from the Hyundai Motor Company. The below list of features is not intended to be exhaustive, so if you’re interested in seeing some additional features for this analysis, please reach out. The features included are as follows:

• Head-up Display
• Navigation System
• Wireless Charging
• Premium Audio Speakers
• Heated Steering Wheel
• Ambient Lighting
• Adaptive Cruise Control
• Blind Spot Monitoring Display
• Remote Parking Assist (Key Fob)
• Heated Drivers Seat
• Ventilated Drivers Seat
• Moonroof / Sunroof
• Dual Front Air Conditioning Zones
• Dual Rear Air Conditioning Zones

Using these features and their fitment on the vehicles in question, a scoring system can be created to show how much customers are getting for their money, and which vehicle is the best value. The scoring system works as follows:

• Feature is Standard on the vehicle: 2 Points
• Feature is Optional on the vehicle: 1 Point
• Feature is N/A on the vehicle: 0 Points

Using this scoring method, the below chart can be created. This showcases the score for each trim of the three vehicles against that vehicle’s MSRP. Trendlines for each manufacturer have also been overlayed. The higher the score (X axis), and the lower the price (Y axis), the better the value. The steeper the trend line for a model, the smaller the incremental value gain relative to the $ price increase of a trim upgrade.

The key takeaways from this chart are:

1. For the features considered, Hyundai and Genesis are providing the greatest offering to the consumer. Genesis offers the same feature fitment across all trims of the GV60, with MSRP increasing independently of feature fitment. Hyundai offer a different approach, with feature fitment increasing the value by ~$7,000 across the model range.
2. KIA offer the best value for money when it comes to base trim vehicles, with the base spec EV6 gaining 5 points in feature fitment over the base spec IONIQ 5.
3. Hyundai offer the best value for money when it comes to top of the range trim vehicles, with the top spec IONIQ 5 gaining 2 points in feature fitment over the top spec EV6, while also being at a slightly lower price.

Performance Statistics

Here, the vehicles will be compared based on specifications that are significant factors for consumers when deciding which EV to buy, including:

• Maximum Horsepower
• Battery Capacity (kWh)
• Battery Charging Time at 240V (Approx. 7.4 kW)
• Range (Miles)
• Minimum Price ($)
• Curb Weight (lbs)
• MPG-E

The following chart showcases the data comparison for all trims of the three models. Please use the drop-down menu to select which statistic to view.

As expected, the performance statistics for the vehicles are all very similar given they share the same platform, batteries, and powertrain components. However, the differences occur when items such as vehicle mass and drag coefficient change due to the variations in vehicle design and construction from the different Hyundai Motor Company brands. Like-for-like vehicles from Hyundai and KIA can see a 5% variance in electric range, with KIA consistently providing 10-20 more miles per full charge. Given the IONIQ 5 has a lower curb weight than the EV6, the gain from KIA can only be attributed to a more efficient aerodynamic design.

Genesis falls considerably short of Hyundai and KIA in the range statistics, but makes up for it in performance, with the top spec GV60 offering 109 horsepower more than the top spec IONIQ 5 or EV6. These first two charts highlight a performance and luxury focus rather than an efficiency focus for Genesis, which matches up with the brand ethos and identity.

Conclusion

Under the skin, the three brands are almost identical. But when individual design and brand identities start to come out, that’s where the differences start to show. Hyundai can be seen to have a focus on providing high feature availability and fitment, with a bold design that therefore slightly impacts the overall efficiency of the vehicle. KIA still has a large focus on feature fitment but shows a greater emphasis on affordability in the lower trim shares and a greater EV efficiency across the model range. Genesis is known to be the luxury performance brand of the Hyundai Motor Company, and the insight from this newsletter backs that up – indicating a focus on feature fitment and performance over range and efficiency.