Sunday, September 8, 2024

Kia Plans to Manufacture EV3 in Mexico, Leveraging US Federal Tax Credit

Kia is set to introduce its latest electric vehicle, the EV3, to the US market, manufactured in Mexico to leverage the US electric vehicle tax credit. Unveiled during Kia’s 2023 EV Day, the EV3 is part of a new line-up of budget-friendly electric vehicles.

Priced at around $30,700 (KRW 42.08 million), the EV3 marks Kia’s third all-electric vehicle and the inaugural model of a new series. While drawing inspiration from Kia’s three-row EV9 in terms of design and technology, the EV3 distinguishes itself with its unique identity. The vehicle features Kia’s new “Tiger Face” grille, a modern reinterpretation of its signature Tiger Nose design.

Credit: Kia

Constructed on Hyundai’s E-GMP platform, shared with the IONIQ 5 and Kia EV9, and powered by Kia’s fourth-gen battery technology, the EV3 boasts a range of up to 373 miles (600 km) on the WLTP cycle and fast charging capability, allowing for a 10% to 80% charge in 31 minutes.

Kia’s president and CEO, Ho Sung Song, expressed confidence that the EV3 will redefine perceptions of EV SUVs with its advanced electric powertrain, bold design, and innovative technology. The vehicle targets buyers who may have been hesitant to switch to electric, offering reassurance with its long range and fast charging capabilities.

Credit: Kia

Internally, the EV3 is equipped with the latest software and connectivity features, including Kia’s next-gen Connected Car Navigation Cockpit (ccNc) with dual 12.3-inch screens and support for Apple CarPlay and Android Auto.

According to The Korean Car Blog, Kia plans to manufacture the EV3 in Mexico, aiming to produce 110,000 units annually at its Monterey plant. With the potential $7,500 federal tax credit, EV3 prices could range from $22,500 to $27,500.

The Mexico-manufactured EV3 will be available in North America, while the Korean-manufactured model will be sold domestically and exported to Europe.

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