The Hyundai Ioniq 5 N will cost $67,456 when it launches this month. That’s a lot of money, but the 641-horsepower Ioniq 5 N is a serious performance product.

Hyundai’s N division has already proven to be a credible performance brand. The sub-brand’s nascent years were navigated under the testing and development guidance of Albert Biermann, a former head of BMW’s M division. The resultant products mesh the best parts of Hyundai with the best parts of BMW M: Practical and affordable like a Hyundai, engaging to drive and stout under abuse like a golden-era M car. I’ve driven the Veloster, Kona, and Elantra N, and all three are sensational hot compacts. From our first two drives of the Ioniq 5 N, the electric model is no different.

The all-wheel-drive super-hatch-slash-SUV makes a staggering amount of power, but that’s not novel in the EV era. What makes the Ioniq 5 so interesting is a variable torque-split AWD system, a simulated 8-speed transmission with simulated ICE noises and, most importantly, stellar dynamics that provide an entertaining, involving experience. There’s also a drift mode, an “N Grin Boost” that provides a 10-second power boost and separate modes for optimizing single-track-lap output power or on-track endurance. With copious amounts of testing at the Nürburgring under its belt, the Ioniq 5 N should be among the first mainstream EVs capable of sustained lapping without overheating. It may not be cheap, but it’s a lot less expensive than a Porsche Taycan.

I’m excited to try the Ioniq 5 N, and it sounds like I won’t have to wait long. Hyundai says it should be available to customers sometime this month.