Kia is gearing up to introduce a series of affordable electric vehicles (EVs) in the US, believing it has an edge with its “secret sauce” technology. The company aims to capitalize on the growing demand for cheaper EVs, especially with competition from Chinese automakers like BYD on the rise.
During its first annual EV Day in October, Kia unveiled a new range of low-cost EVs, including the EV2, EV3, EV4, and EV5. The lineup is part of Kia’s “EV for all” strategy, offering a wide range of EVs with prices ranging from $30,000 to $80,000.
While the EV5 has already been launched in China with starting prices around $20,000, Kia has not confirmed plans to bring it to the US. However, the company is set to introduce several affordable EVs, with the EV3, a compact electric SUV, expected to be the next launch.
Steve Center, COO of Kia America, emphasized the importance of having proprietary technology, stating, “You canāt just jump in and catch up. You have to have your own R&D, your own secret sauce.” Kia believes it is ahead in the development of low-cost EVs.
The EV3, set to debut this summer or by the end of 2024, will be a shrunken version of the EV9, offering similar design and technology in a smaller, more affordable package. The compact electric SUV is expected to start at around $30,000 and will feature Kia’s new “Opposites United” design language and next-gen ccNC infotainment system.
Following the EV3, Kia plans to launch the EV4, an entry-level electric sedan, in 2025 or 2026, with prices around $35,000. The EV4 is described as an “entirely new type of sedan that stands as a symbol of innovation.”
Kia has converted its West Point, GA facility to produce the three-row EV9 electric SUV, which is currently being shipped from Korea but is expected to be produced in GA starting this summer. The company expects its EVs built in the US to qualify for the Federal EV tax credit, making them more appealing to households with lower incomes.
Center highlighted the importance of EVs for automakers, noting that they offer a fresh start. He said, “Just because youāre great at something else doesnāt mean youāre going to be great at EVs.” Kia aims to capture customers who are looking for EVs and may need to explore other brands if their regular brand does not offer an EV option.
