To say the Hyundai Ioniq 5 EV is a popular car is to say that the iPod in the 2000s was a "popular" piece of kit – it seems everyone wants one and will do anything to get one. The recent batch of 200 that hit Australian shores sold out in minutes – you hear that about pop concerts but never about cars.

This electric SUV comes in the Dynamiq RWD and Techniq AWD variants, which upgrades the trim on the one with more grunt. The Dynamiq comes with a 160kW/350Nm, fully electric motor attached to the rear axle. The Techniq doubles the motors, with a 70kW/255Nm driver in the front and 155kW/350Nm in the back. It does the 0-100km/h dash in 5.2sec (the RWD a respectable 7.4sec.) 20" alloy wheels are also a big plus.

You can charge them using rapid chargers, gaining 70% in about 18 minutes. Fully charged, you can cruise along for 451km. From home, you can go from 10% to 80% in about six hours.

Inside – it's roomy. You can add a sliding centre console and adjustable seats to increase room and choose from light and dark leather seats. It uses recycled materials and plastics with eco-treated leather as comfort touches. Since there's no "engine" to speak of, you can store everything you can think of; the boot has a capacity of 524L and extra storage under the bonnet with 52L for the RWD or 24L for the AWD.

When it comes to safety, it boasts the top of the class five-star ANCAP rating. This includes lane-keeping and lane-following assist, seven airbags, autonomous emergency braking, 360° camera, automatic parking with rear and front sensors, adaptive cruise control, and rear cross-traffic alerts. The Ioniq 5 comes with a braked towing capacity of 1,600kg and an unbraked capacity of 750kg, the same on both models.

The bells and whistles don't stop there – it boasts two 12.3" screens, including a digital instrument system, blind spot monitor, and multimedia touchscreen. You also get built in satnav, Apple CarPlay, and Android Auto connectivity.

Ride in comfort with dual-zone climate control, adjustable ambient lighting, and a heated steering wheel. You also get keyless entry and push-button ignition (because turning over a key is like winding a digital camera), smart power tailgate, and front and rear seat heating, with the front also getting cooling.

How much does this cost, you say? Well, it ain't cheap. The Hyundai Iconiq 5 Dynamiq variant will set you back around $69,000, while the Techniq is $77,500 driveaway. Haggling may be difficult since buyers snap them up as soon as they hit landfall.

It looks sleek, runs like a dream, and has a boatload of features – but that price will leave many balking. Even if you take advantage of government incentives, the return on your investment won't become apparent until a couple of years of reduced service costs and of course, not paying for petrol. As a medium-sized SUV that runs on electricity, it's a real stunner. Shame about that price tag, though.