Hyundai Ioniq 5 vs Lexus LM

What's the difference?

The Hyundai Ioniq 5 Epiq N-Line AWD leverages an electric powertrain’s best attributes brilliantly well.

It’s ultra smooth and comfortable with ample performance and great dynamics thanks in part to this car’s N Line spec.

Its price tag pits it against formidable competition from the German Big Three, Tesla and others. But it has what it takes in terms of quality and value to fight that battle. It’s an impressive machine.

The Lexus LM is going to be a niche model. This was not designed to appeal to people that may have bought a Toyota Tarago back in the day, or even a Kia Carnival now.

It has a specific purpose for ferrying people around in absolute comfort and at that, it succeeds in a big way.

It’s just a bonus that it’s great to drive.

Welcome to the automotive equivalent of a business class airline suite.

Note: CarsGuide attended this event as a guest of the manufacturer, with accommodation and meals provided.

Is this a big hatchback or a mid-size SUV? I’m on team hatchback, while Hyundai defines the Ioniq 5 as an SUV.

But who cares? They’re just words and the fact is even after close to three years in market this five-seater looks fresh and contemporary thanks to its confident, chiselled lines and wide stance.  

For car-spotters the N Line exterior treatment consists of flat aluminium badging, specific bumpers front and rear, with a deeper nose spoiler incorporating larger vents to cool the front brakes.

There’s also body-coloured cladding and side skirts, gloss black mirror caps, unique 20-inch alloy rims and a ‘hidden’ lighting signature across the top of the front bumper.

Inside there are Alcantara- and leather-appointed seats, an N Line-exclusive partially-perforated leather steering wheel, red contrast stitching and accents, and brushed metal covers on the pedals.

Add in the twin 12.3-inch screens display and this understated, super-cool interior comes to life with a sporty twist. 

The Ioniq 5 scores points for a manual dial for audio control and an Ioniq 5 update earlier this year included a row of simple-to-use buttons for the ventilation system and another on the centre console for seat comfort settings and more. A sensible blend of physical and digital controls.

Look, people movers are not considered the sexiest of automotive body styles, but that’s changing.

The Kia Carnival and Hyundai Staria are examples of good MPV design.

And the Lexus LM steps it up again. 

It is based on Toyota’s TNGA-K architecture that underpins a bunch of Toyota and Lexus models, including the Lexus RX, and it measures a whopping 5.1 metres long and has a three-metre wheelbase.

It shares its underpinnings with the latest generation Japanese-market Toyota Alphard, which is a cult hit in Australia among the grey import set.

The front-end design is bold, with the latest take on Lexus’ big ‘spindle grille’, pinched slimline headlights and a stubby nose. 

I am a big fan of this design. It is far more than a box on wheels and it has quite a bit of presence. 

The interior design up front is modern Lexus, with a few familiar Toyota touches, and while it’s not exactly minimal, it’s still visually appealing.

At just over 4.6m long, a little under 1.9m wide and a fraction more than 1.6m tall the Ioniq 5 comfortably fits the medium SUV profile.

But arguably its most significant dimension is a 3.0m wheelbase which is huge for a car of this size as evidenced by the wheels pushed out to the corners.

What that means is plenty of space inside, but before you can even get in the capacitive touch power door handles may look cool and help aero performance with their flush fit design but I’m not a fan. They’re hard to grip most of the time and don’t work well from an ergonomic point-of-view.

That said, once inside the front seats are adjustable six ways to Sunday and at 183cm tall I have plenty of head space and breathing room in general.

In terms of storage there are big pockets in the doors with room for bottles and thanks to the ‘shift-by-wire’ gear controller located on the steering column there’s room between the seats for a substantial console including a pair of cupholders, a slot for devices and a lidded tray (which doubles as a centre armrest) with that whole rear section able to swing up to allow access to a large lower shelf underneath.

In fact, the entire console unit easily slides fore and aft to liberate more legroom for the centre rear position. There’s also an oddments cubby in the lower part of the dash and a decent glove box.

Then, for connectivity and power there are three USB-C sockets (one in the dash switchable to streaming), a wireless device charging pad and a 12-volt outlet.

In the back that long wheelbase comes into its own. Sitting behind the driver’s seat set for my position I have loads of foot, leg and headroom.

Storage runs to door pockets with room for bottles, a fold-down centre armrest with a pair of cupholders, there are netted map pockets on the front seat backs and pull-up sun shades on the rear windows.

There are controls for the front passenger seat on the inner edge of the front passenger seat backrest which allows rear seaters to adjust its position. Thoughtful.

For power there’s a pair of USB-C sockets and individual ventilation controls in the back of the B-pillars is welcome. 

Then, not only is the electrically-adjustable rear seat split 60/40 in the backrest, it’s in the cushion, as well, which adds extra flexibility in terms of a balance between rear passenger space and room in the boot.

The boot is generous at 527 litres (VDA) with the rear seat upright and 1587L when it’s folded down.

There’s also a handy 24L ‘frunk’ under the bonnet, a decent portion of which is devoted to the (included) charging cable.

Interestingly, the Ioniq 5 AWD is rated to tow a 1600kg braked trailer with a trailer pre-wiring package standard. 

There’s a repair/inflator rather than a spare tyre, which is never a good thing, but there is a ‘smart’ power tailgate and a ‘Vehicle-to-Load’ function that allows you to power and/or charge three-pin appliances from the car. Handy.

While most of the fun happens in the second row of the Lexus LM, there is a lot to like in the front compartment.

The dash is dominated by a large touchscreen that houses Lexus’ latest multimedia setup. The logical menu and uncomplicated sub-menus ensure this is an easy system to navigate. Speaking of, the in-built sat-nav is one of the better systems I have experienced. 

Comfort isn’t just the domain of the second row - the driver’s seat is very supportive and comfortable, with power adjustment.

There’s plenty of glass including a smaller front quarter window that helps eliminate front blind spots, so forward visibility is exceptional. Rearward visibility is aided by the digital rear-view mirror that is designed to ensure privacy for second and third-row occupants. You don’t want the chauffeur spying on you while you’re sleeping, do you?

The other big tick for me is the driving position. Other people movers, namely the Hyundai Staria and Mercedes-Benz EQV, have very low window lines and it leaves you with a feeling of sitting on the car, rather than in it. I am sure it helps with extra light and it probably makes it easier for kids to see out of, but from a driving perspective, I find it a little disconcerting.

But the LM has flipped that. The front compartment is designed in such a way that it feels like a cockpit that you’re ensconced in. This helps the driver feel more connected with the car, and in the LM it feels like you’re sitting in the driver’s seat of a sporty sedan, not a five-metre bus. Very well done, Lexus.

And now to the main event - the second row.

Where to begin. Let’s start with space. Because there is so much of it. Unsurprisingly given the seating layout, there is an unending amount of head, leg, knee, bum, shoulder and whatever-else room. I can’t imagine anyone complaining about space back there.

Also, getting in and out is a breeze thanks to the sliding power doors on both sides. These can be opened from the front seat, and via several buttons in the rear.

Those captain’s seats are plush. Not quite Benz S-Class plush, but still.

They are adjustable six ways - power adjustable, of course - and they’re heated and ventilated. They recline almost flat, too, if you need a nap on the way to the country estate. And while you do that you can look up through the split sunroof, or close the shade a number of ways.

Is there a massage function? Of course there is a massage function. And it’s not bad. You can choose two settings - weak and firm.

Adding to the feeling of a business class airline seat, there is a fold-out table in the armrest, although it’s a smallish one. And there is dual-zone climate control in the rear.

There is a roof-mounted control panel for things like climate, sunshades and sunroof blinds, but much of this can also be controlled by the Apple iPhone-like devices clipped into both rear seats. These are closer to the seats, so it is easier to access than the roof.

Another function in the device is the Climate Concierge that features different modes - Dream, Relax, Focus, Energise. Depending on which one you choose, it alters the seat settings, massage, climate and lights to suit.

I love the massively wide side windows that are tinted (or privacy glass), too.

Other amenities include map pockets, knee and roof-mounted air vents and a 14.0-inch display screen that retracts from the roof and connects to an HDMI cable, allowing you to watch whatever you want.

The third row is not as appealing as the second. It is technically a three-person row, but the width and the fact that it has a sizeable gap in the centre suggests that this is best thought of as a six-seater van.

The seats are not as plush of course, so you might not want to spend too much time in that row unless you are a small child. But you do get USB-C ports, cupholders, air vents, lights, sunglasses holder, power side shades and grab handles.

Getting in and out of the third row can take a while. It’s all power adjustable, so you don’t have to lift anything heavy - but it takes a while for the second row seats to move forward and up.

With all seats in place the cargo space is limited. In fact, it’s just 110 litres.

That’s similar to what you get in a seven-seat SUV. But it did fit all our overnight luggage easily.

Drop the rear row and that expands to a maximum of 1191 litres in the 350h or 752 litres in the 500h.

All grades have a space-saver spare wheel.

From launch there will be two versions of the LM350h Sports Luxury on offer - front-wheel drive and all-wheel drive, priced from $160,888 and $165,888 before on-road costs respectively.

They both have seven seats across three rows and share the same four-cylinder hybrid powertrain, but an even more high-end version is on the horizon.

The LM500h will land in January 2024, priced from $220,888, and it adopts a newer more powerful hybrid powertrain. Something else that sets the LM500h apart is the seating layout - it is a four-seater. Behind the driver and front passenger compartment are two big captain’s chairs that recline flat if required. Decadent luxury. Or so the pictures suggest. We will have to wait until the New Year to sink into the sumptuous seats.

Given the positioning and interior layout, the LM will probably not appeal to people looking at a Kia Carnival, or who would have opted for the departed Toyota Tarago. It will, however, appeal to large families that aren’t short of a dollar, airport limo operators, and even as tourist transport.

Thankfully, there’s a substantial amount of standard gear fitted as standard in the LM.

The only difference in spec between the two 350h grades is the addition of all-wheel drive. Otherwise you’ll find keyless entry and start, front heated seats, automatic retractable side steps, power opening side doors, rear privacy glass, a pair of sunroofs, and semi-aniline or L-aniline upholstery.

Tech-wise, there is a digital rearview mirror, and a 14.0-inch touchscreen, a 12.3-inch digital instrument cluster, a head-up display, seven USB ports, a smartphone charger and a rear 14.0-inch multimedia display.

The 500h adds niceties like a separation partition with elevating and dimmable glass, that doubles as a 48.0-inch widescreen display to watch films and TV, or take conference calls with. It also gets two partition glove boxes, a pair of umbrella holders, two second-row phone chargers, a 23-speaker Mark Levinson 3D audio system and more.

In terms of rivals, there really aren’t many other luxury people movers on the market. Aside from the Mercedes-Benz V-Class and all-electric EQV, there are higher-grade versions of the Volkswagen Multivan, and the LDV Mifa 9 EV.

The Ioniq 5 Epiq AWD is powered by a permanent magnet synchronous electric motor on each axle, both powerful, but the rear unit packs a bigger punch.

And combined peak outputs of 239kW and 605Nm are substantial with especially the latter delivering eye-widening acceleration.

Drive goes to all four wheels via a single-speed, reduction gear auto transmission on both axles. And a ‘Disconnector Actuator System’ is able to disengage the front wheels to reduce drag losses from the front motor and improve energy efficiency.

There are two hybrid powertrains available. Coming next year, the LM500h combines a 2.4-litre turbocharged petrol engine and a hybrid setup, making for power and torque of 202kW and 460Nm respectively. It is all-wheel drive and is paired with a six-speed automatic transmission.

The LM350h comes with a 2.5-litre naturally aspirated petrol engine and a parallel hybrid system, offering up a total system output of 140kW and 239Nm. The 350h comes in front or all-wheel-drive guise and uses a continuously variable transmission (CVT).

The Ioniq 5 Epiq AWD is powered by an 84kWh liquid-cooled lithium-ion battery, borrowed from the high-performance Ioniq 5 N.

Thanks to 800-volt compatibility it can accept a 350kW DC charge which translates to an up to 80 per cent charge time of around 18 minutes, which expands to just over an hour using a more typical 50kW charger.

Connect to AC at the Ioniq 5’s maximum 10.5kW capacity and quoted charge time is just over six hours.

Official energy consumption on the combined (urban/extra-urban) cycle is 19kWh/100km and claimed range is a useful 495km.

Over a mix of urban, suburban and freeway running on test we saw a real-world average of 16.8kWh/100km, which is impressive for a car with this much performance potential.

As you’d hope with an all-hybrid line-up, the LM excels when it comes to combined cycle fuel efficiency. The 350h FWD sips just 5.5 litres per 100 kilometres, while the AWD version is 5.6L/100km. The 500h is a little thirstier at 6.6L. 

Our drive was so brief we did not get to record an on-test fuel figure.

The theoretical range of the LM, considering the 60-litre fuel tank and 5.5L/100km (350h) and 6.6L/100km (500h) fuel consumption figures is about 1000km.

In terms of straight line performance we’re talking 0-100km/h in a tick over 5.0 seconds and I see anything in the five-second bracket as properly quick.

With more than 600Nm of peak pulling power at your disposal there’s always plenty of pulling power for efficient in-traffic moves and safe highway overtaking.

The shift-by-wire gear selector on the steering column takes some getting used to but once you’re in tune with it, it’s surprisingly convenient, especially during slow speed parking or turning manoeuvres. 

There are multiple modes - ‘Eco’, ‘Normal’, ‘Sport’ and ‘Snow’. Sport mode spices things up a bit with more urgent responses and the ‘HTrac’ AWD system uses multiple sensors to manage potential wheelspin and optimise drive in wet conditions or on loose dirt surfaces.

Suspension is by struts at the front and multi-links and the rear and the Ioniq 5 in this configuration is ultra-smooth and comfortable.

Even hitting pretty aggressive speed bumps and ruts in the road and the car soaks them up without fuss. You’re used to EVs being a little harsh in terms of ride compliance thanks to their relative weight, but that’s not the case here.

As part of a model upgrade introduced earlier this year Hyundai says it undertook a “comprehensive revision to the suspension tune”, which includes high-performance dampers on this N Line. And despite low-ish profile (255/45) Michelin Pilot Sport EV tyres on the 20-inch rims it remains comfortable and quiet.

The upgrade also included body reinforcements in the B- and C-pillar, door surrounds and under the body for a stiffer platform overall.

That pays off in the dynamics. Despite its 2.1-tonne weight the Ioniq 5’s steering is accurate and nicely weighted. It doesn’t feel lumbering or ponderous despite its relative heft.

The physical brakes are ventilated discs front and rear with regenerative available through four levels, the most aggressive setting being ‘i-Pedal’ which allows single-pedal driving.

It will slow the car to a full stop, harvesting the most energy possible in the process, although you might need a dab on the brake pedal if things are tight.

Miscellaneous observations include a 12m turning circle, so be ready for three-point turns where you didn’t think you’d have to.

Hyundai's (and Kia’s) default over-speed warning is present in full-force taking clicks through multiple screens to switch off and avoid its incessant audible alarm saying you've exceed what the car believes is the posted limit (every time you restart the car).

The recently released Tucson Hybrid features a short-cut function to do away with this issue and it would be welcome here.

The CPU underpinning the multimedia system is more powerful and response is speedy without a hint of lag.

And the camera based ‘mirrors’ take some getting used to. For many, they’re the answer to a question no one was asking. I mean, conventional mirrors work pretty well and any aero benefit from the smaller camera units has to be modest. But once you’re in tune with them the hi-def screens are excellent.

A flip of the switch on the interior rear view mirror allows you to side-step tall heads or loads in the back of the car but minimal depth of field is also (visually) awkward at first.

As mentioned earlier, I spent much more time in the second row as a passenger than I did behind the wheel of the LM350h. But it was enough time to capture some initial high-level drive impressions.

But let’s start in the rear. The ride in the second row is comfortable - as you’d hope. Our trek from Melbourne’s inner north down to the Mornington Peninsula included a lot of freeway, which was smooth. The only thing that disturbed the peace was a chunky bridge join that caused a bit of a thump. But we were hardly disturbed. 

Back in the driver’s seat, there’s a lot to like about how the LM350h drives. First of all, it feels smaller on the road than its ample dimensions would otherwise suggest. It even feels relatively light on the road. 

After the LM, I drove a Mercedes-Benz EQE SUV that has a similar kerb weight (the Lexus is about 2.4 tonnes), and the LM felt lighter.  

The hybrid powertrain is responsive enough, offering decent acceleration from a standing start. The more potent 500h will of course be quicker.

The transition from electric to petrol propulsion is pretty smooth in Lexus (and Toyota) models these days, and the additional noise-deadening materials in the LM ensure it’s subtle.

The 2.5-litre petrol engine is really only noticeable when accelerating hard, and the CVT a slight drone, but it’s in no way unpleasant. 

Otherwise it’s a superbly refined and quiet cabin on all but the absolute worst road surfaces. Whisper quiet power windows adds to that feeling of luxurious refinement.

Given the brief time behind the wheel, we didn’t get to test the handling capability of the LM, so that might have to wait for a review in the New Year. 

The steering is heavily weighted and doesn’t feel overly responsive, but it’s perfectly suited to this sort of vehicle.

That supple ride we experienced in the rear was also evident behind the wheel.

This was especially impressive on a couple of pock-marked peninsular back roads. The ride is also much more compliant than the Mercedes-Benz EQV I tested early in 2023.

The LM is yet to be crash tested by ANCAP, and it is unclear if it will be given the fact that it’s a niche model. However, as with other current Lexus models, it has a long list of standard safety gear.

The safety suite, including intersection assist, and a pre-collision system with vehicle, pedestrian, bicyclist and daytime motorcyclist detection.

It also comes with emergency steering assist, full-speed radar cruise control, ‘Curve Speed Reduction’, ‘Lane Trace Assist’ with lane-departure alert, automatic high beam, ‘Road-Sign Assist’ (speed signs only), ‘Emergency Driver Stop System’, a blind-spot monitor and rear cross-traffic alert.

Hyundai covers the Ioniq 5 with a five-year/unlimited-km warranty, which is the mainstream market norm, with a separate eight-year/160,000km warranty for the drive battery; also an expected term.

Roadside assistance and sat-nav updates are renewed annually if the vehicle is serviced at an authorised Hyundai dealer.

Service interval is two years/30,000km which is appropriate for an EV given its relative mechanical simplicity and a ‘Lifetime Service Plan’ locks in scheduled maintenance costs for the life of the vehicle.

Service cost for the first five years is $1220, with each of the two services required in that time coming in at $610. Competitive for an EV in this part of the market.

When you buy a Lexus, you get a bit more than a car. The brand has a customer loyalty program - Lexus Encore - and depending on what model you buy, you are eligible for some pretty cool discounts, bonuses and experiences. 

There are three tiers, depending on your model. UX, NX, RX and ES fall under regular Encore, and electric models the RZ and UX300e sit beneath Electrified Benefits. But the LM, as well as the LS, LC and LX are under Encore Platinum - the top tier. 

That means access to the ‘On Demand’ program that allows access to another Lexus model for a few days or longer. So if you own an LC Convertible but need an RX for a few days to ferry people around, that’s all free. There’s valet parking service loans and more.

It also includes upgrades at Lexus partners. Our launch took us to Jackalope Hotel on the Mornington Peninsula, which is a Lexus partner, and you can get a bunch of extras here as a Lexus owner that other guests won’t get.

In terms of other ownership details, the LM is covered by a five-year, unlimited-kilometre warranty, and the servicing schedule is every 12 months or 15,000km.

Lexus is yet to announce the capped-price servicing details for LM, but it is expected to cover five years, and should be in the vicinity of approximately $700 per service.