The EV3 is equipped with Hyundai Motor Group’s dedicated EV platform named E-GMP and a ternary, or nickel-cobalt-manganese (NMC), lithium battery. The EV6 ane EV9 are also fitted with the E-GMP platform. (Image courtesy of Kia Corp.)
SEOUL, May 23 (Korea Bizwire) – Kia Corp., South Korea’s second-biggest carmaker by sales, said Thursday it will launch its third battery-powered model in the domestic market in July as part of its future mobility solutions roadmap.
Kia plans to receive preorders for the EV3 SUV, the third pure electric vehicle model after the EV6 SUV launched in 2021 and the EV9 flagship SUV released in 2023, in June before its planned domestic launch the following month.
The global electric vehicle (EV) market is slowing down but the transition from combustion engine models to EVs is an inevitable shift and the EV market is expected to grow again in the near future, Kia President and Chief Executive Song Ho-sung said in an online press conference.
“Early-adopter customers have mainly purchased EVs despite high prices and lack of charging infrastructure as they are eager to test the next-generation vehicle. The EV3 is aimed at targeting the ‘early majority’ customers prioritizing reasonable prices and low maintenance costs,” Song said.
As for the prices, the all-new battery SUV will be priced at US$35,000-$50,000 depending on markets. In the domestic market, the EV3′s entry version will be available at around 35 million won ($26,000) with government subsidies, the executive said.
Kia’s upcoming EV4 and EV5 SUVs are also targeted at the early majority customers in the domestic market, he said.
The EV4 and EV5 are set to be released domestically from this year though the EV5 was initially launched in China last year.
The EV3 is equipped with Hyundai Motor Group’s dedicated EV platform named E-GMP and a ternary, or nickel-cobalt-manganese (NMC), lithium battery. The EV6 ane EV9 are also fitted with the E-GMP platform.
Kia aims to sell 18,000 units of the EV3 in the domestic market in the July-December period, while planning to export the model to Europe starting later this year and the United States in 2025, the company said in a statement.
Once the model is launched in global markets, the maker of K5 sedans and Sorento SUVs is aiming to sell 200,000 EV3s, including domestic sales of 25,000 units, annually, it said.
The EV3 is equipped with Hyundai Motor Group’s dedicated EV platform named E-GMP and a ternary, or nickel-cobalt-manganese (NMC), lithium battery. The EV6 ane EV9 are also fitted with the E-GMP platform.
The compact battery SUV will be available in two versions, an 81.4 kilowatt hour (kWh) battery-equipped model, which can travel more than 500 kilometers on a single charge, and the other with a 58.3 kWh battery that can run up to 350 km per charge, the statement said.
It takes 31 minutes to charge from 10 percent to 80 percent of the long-range model’s battery with a 350 kW high-power charger, it said.
The high-performance EV3 GT Line model will be released in the local market in late 2025, the statement said.
Kia plans to launch 15 EVs by 2027 and sell 1.6 million EVs in global markets in 2030.
This year, it aims to sell 3.2 million vehicles, including 307,000 EVs, which is higher than the 3.08 million units sold last year.
While strengthening the EV lineup as planned, the company will also add more gasoline hybrid models to its lineup in the coming years.
Kia projected the ratio of gasoline hybrid models in its total vehicle sales will rise to 19 percent, or 800,000 units, in 2028 from 12 percent, or 372,000, this year.
“We are increasing gasoline hybrid models to absorb customers who are planning to replace their gasoline cars with fuel-efficient gasoline hybrid ones,” Song said.
(Yonhap)
