EV vs ICE: Hyundai Ioniq 5 N and Porsche Cayenne Turbo GT

A Porsche and a Hyundai. It’s a match-up that makes no sense, because here in 2024 that’s the world we live in.

When I pitched the idea for Mike and I to drive the Hyundai Ioniq 5 N and Porsche Cayenne Turbo GT together, I was fully aware nobody is actually going to cross-shop them.

Instead, this is a chance to illustrate just how much change is happening in the industry. Both of these vehicles have over 600 horsepower, will slingshot to highway speeds in around three seconds, and possess broadly similar footprints capable of shuttling three other grin-wearing folks along for the ride. The Porsche represents the peak of the present, a gas-powered SUV with the spirit and reflexes of a sports car. Hyundai’s pseudo-hot hatch is the future: an all-electric chameleon capable of imitating much of what we champion as driving enthusiasts. But can it truly thrill?

Get ready, it’s gonna get weird.

What’s New for 2024:

Hyundai debuted the N version of the Ioniq 5 earlier this year. Shedding any of the remaining crossover pretenses it might’ve had, it’s slammed, widened, and boasting double the power: 641 horsepower when the N Grin Boost button is doing its 10-second thing. It receives the entire litany of typical go-faster bits—chassis stiffening, big brakes, bigger wheels and tires—and then adds bits like faux shifting and all manner of battery programs tailored to specific track day needs.

The top-range Cayenne Turbo GT is an older idea, launching three years ago. This model is only available in the coupe-over shape, with its own lineup of upgrades befitting those vaunted two letters affixed to its truncated tail. It saw a raft of upgrades for ’24 which Porsche says makes it even sharper. Oh yeah, and now it’s pumping out 650 horsepower instead of the obviously lacking 626 hp of last year’s model.

Exterior Style:

There might be performance similarities on paper, but other than four doors, a liftgate, and as much ground clearance as a Camry, these two certainly don’t share styles. The Ioniq burst onto the scene with—to these eyes—an immediately identifiable look. The ensuing years of familiarity haven’t dulled the impact of that angular design, either. The challenge Hyundai faces is following it up, which is why the facelift the N ushers in is so subtle: new light patterns, basically. Of course, the N brings in its own hardcore look, all swollen arches, functional aerodynamics, and… a rear wiper! Performance Blue is the obvious choice here and sure enough, when we’ve got the two together, it’s the Ioniq 5 that draws more looks and inquiries.

The Porsche is… well, a Porsche. No other company has got the incremental, evolutionary design approach on lock quite like Stuttgart, which can be good or bad depending on your tastes. The Cayenne is curvaceous, but not without definition. Strong shoulders flow into a tail that somehow manages to avoid the awkward visual bulk of nearly every other luxury coupe-over out there. The arc of the rear pillar, the taper of the glasshouse, maybe even the twin-spoiler approach: whatever it is, it’s working for the Cayenne Coupe. Porsche still employs black plastic on the lower extremities here, also removing visual heft. While this tester isn’t the excellent green-and-gold color combo of the last Turbo GT we drove, those blue wheels certainly earn their fair share of comments.

Powertrain and Fuel Economy:

That V8 doesn’t mess around. Porsche’s bent-eight is a monster of an engine, responsive and tractable anywhere in the rev range. Look at a point on the horizon, squeeze the throttle, and the Cayenne does its best to converge two points in space into one. The transmission is an excellent match, keeping pace with the epic power without ever skipping a beat. Around-town manners are exemplary, yet the eight-speed will crack off shifts with lightning quickness when pressing on. There is still manual control should you want to use those big metallic shift paddles too, and they work just as well at either end of the Turbo GT’s character. The whole show comes with a stirring soundtrack too, the V8 burble giving way to a harder-edged zing on the tacho’s back half.

The Ioniq 5 N doesn’t have a symphony to match. It has a few selectable ones, mind you: a very accurate Elantra N DCT rendition is “Ignition”, with an electrified prototype choice pulled from Gran Turismo 7 and a wilder spaceship option rounding out the selections. It’s the gas-mimic mode that I keep the car in for any fun driving because it makes the 5 N’s party trick faux-gear shifts all the more believable. There’s real negative torque at play on downshifts—not much, but enough to more accurately gauge the road speed. Way back at the launch event, I drove the N on the track, and it soon felt strange to not use the feature, since it made judging corner speeds natural.

Handling and Drivability:

What has so consistently impressed me about the I5N isn’t its rapid pace on straights, but its engaging attitude on the curvy bits connecting them. Despite being electric, all-wheel drive, and much heavier than the Elantra N, the Ioniq 5 shares that car’s “Corner Rascal” spirit. The overgrown hatchback tips into curves with enthusiasm. There is a clear idea of what those front wheels are experiencing through the button-festooned wheel. The message might not be as loud as I’d like, but the feedback is at least consistent.

Even on grippy summer rubber at road-legal speeds, the Hyundai is willing to get up on its toes and dance a bit. Edge the rear axle into play here: lift off the go-pedal and the negative torque of the rear motor helps rotate the whole vehicle. The e-LSD helps here too, and in low-speed stuff you can feel it shuffling power from left to right, finding the optimal balance to rocket the 5 N forward. There’s only one other electric vehicle I’ve driven that’s come close to this level of involvement and dynamic ability, and it’s had the same badge on its nose as the Cayenne…

Porsche has spent over 20 years making tall SUVs handle like sports cars, and the Turbo GT is the current culmination of all that knowledge. On even stickier, wider rubber than the Hyundai, the Cayenne is hilariously over-qualified on the road. Even though it’s not near its limits, the Cayenne still involves the driver in proceedings. That right-sized, thin-rimmed steering wheel is quick lock-to-lock and provides good feedback, filtering out the static. There’s zero body roll here, and even though the Cayenne curb weight crests 5,000 pounds (2,268 kilograms), it turns in with a quickness. The balance isn’t quite as playful: the Turbo GT is more about bending the road to its will.

It’s tough to tell which of these would truly be the quicker through a tight series of corners. The Cayenne certainly has the advantage in the braking department though. The enormous carbon ceramic stoppers that come standard on the Turbo GT are indefatigable on the road, yet also progressive in their action. Pedal feel is the right level of firm, building confidence that as quick as the Cayenne is, it’ll haul itself down just as effectively.

Ride Quality and Comfort:

What’s shocking about the Turbo GT’s explosive delivery and sure-footed agility is how easily it can rein it all in. Switch everything over to the softer side and there are few hints of the Porsche’s Herculean levels of all-out performance.

“One thing I wasn’t expecting was how well this thing rides,” notes Schlee. “A lot of high-performance SUVs can be quite jarring as they’ve stiffened things up to minimize body roll, but in normal mode—or more specifically normal suspension, it’s actually quite smooth over bumps.” Mike goes on to point out that there are other European SUVs that ride worse than the Cayenne while not being able to match its wicked performance.

The front seats are excellent, with enough contouring to mean business without being awkward for daily use. The driving position is basically perfect, because Porsche has always nailed this. Nonetheless, there is a wide range of adjustments to suit drivers of all sizes. We’re sad to see the option box for front seat ventilation wasn’t ticked, though.

With its myriad levels of customization, it’s no wonder the Ioniq 5 N succeeds in this same Jekyll and Hyde way. Turn off the turbo-four soundtrack, dial back the suspension, and the N rides like a regular Ioniq 5. Okay, one with a stiffer ride, but as the top model already rides just a little firm for its class, the delta is small. Hyundai quotes a much shorter 221 miles (356 kilometers) of range for the N, but when we’re putting it through the daily grind, its efficiency ratings are right in line with the rest of the family.

The Ioniq’s thrones are heavily bolstered, a gentle squeeze on the lower back a reminder that hey, the car’s got you. You don’t get power adjustments here, but at least ventilation is standard; when you’re hustling, it’s very welcome.

Interior Style and Quality:

Given you can buy basically three of the Hyundais for the cost of the Porsche, it’s no surprise that the cabins are where you find big differences. Well, there is a lot of black suede in both…

The Cayenne is all reserved luxury. A restrained dashboard design punctuated by two tall vents on either side with a thick, glossy center console giving driver and passenger two distinct sections of the cabin. Neither of us love the latter, because smudges, but most of the controls are handled through the satisfying metal toggles placed in the center. Big suede grab handles sprout from the console, as a reminder of the Turbo GT’s now-distant off-roading genes. The entire cabin is vault-like in its quality and quietness. That’s the strength of this (relatively) new trim: it provides elevated performance similar to the two-door GT models of the family, yet remains a sledgehammer continent crusher true to the Turbo badge.

The Hyundai, by comparison, is a hooligan. Blue and red highlights abound, and the N badges in the seats light up. There’s a lot of simple black plastic along the doors and rimming the wholly redesigned center console. The latter deserves recognition, mind you: Hyundai realized the regular car’s sliding console served little purpose here. Instead, this one is fixed, with soft padding exactly where your knees will need it during hard cornering. Smart stuff, that.

Both of these vehicles will shuttle two folks in the back as well—the Hyundai will even do three in a pinch. The people in the Porsche will have less head space to work with, but the advantage of dedicated rear-seat climate controls.

Tech and Safety:

These are two big, heavy crossovers that can spank supercars from the turn of the century: of course there’s a lot of tech in each.

The Hyundai’s touchscreen can be overwhelming at first, particularly the approximately 18,000 different ways pilots can tailor how it drives. Spend a bit of time learning where everything is and it’s easy-peasy. Being able to map your personal faves to the two N buttons is helpful too. There’s a full complement of modern safety features as standard as well, so unlike some modern (typically manual-equipped) sports cars, the N doesn’t force buyers to pick between pleasure and protection. A full-color head-up display is very useful here.

Value Dollars and Sense:

I wasn’t kidding when I said you could get three Ioniq 5 Ns for the price of one Cayenne Turbo GT. In America, the Hyundai starts at just $67,495 including destination; the Porsche lists for $205,795. The gap only grows as-equipped; the only option for the Hyundai is its fancy matte paint for a grand, while the Porsche piles on nearly $20,000 more.

Porsches are traditionally aggressively-priced in the Land of the North, so it isn’t quite triple the Hyundai at list. The opening bid for the Turbo GT is $221,150 CAD, while this one rolls along with a sticker of $244,830 CAD. Nothing offers up the Ioniq 5 N’s level of performance for the same $80,149 CAD; Performance Blue matte is a $1,500 CAD surcharge on top of that.

Final Thoughts: 2024 Hyundai Ioniq 5 N and 2024 Porsche Cayenne Turbo GT

After a day of driving—and yes, giggling—in both cars, Mike and I enjoyed “our” picks as well as each other’s. The man with a penchant for V8s had a blast in the chameleon-like Ioniq 5 N. The retro-futurist wunder-hatch is my personal pick for the best new car of the year already, but I can’t deny the appeal of the eight-cylinder rumble of the Cayenne, its fancy (but not too fancy) cabin, or the righteous levels of grip and composure it has.

So, a conclusion of “fun cars are fun.” Shocking stuff, right?

It goes further than that. This get-together is to show that regardless of where you fall on the ICE and EV spectrum, big grins can be had. The Cayenne Turbo GT has refined the hi-po SUV formula to near-perfection, while the Ioniq 5 N, as a relative value, democratizes similar levels of performance for the all-electric era. 2024 might not make a whole lot of sense, but whether you want fun via former-dino juice or electrons, this year offers the best of both.

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