Kia Corp launched on Thursday the company's first compact electric sports utility vehicle built on its dedicated EV platform, betting it can win over buyers through competitive pricing even as momentum in the global EV market stalls.
The EV3 is one of more than 31 electric models that Hyundai Motor Group - which includes Hyundai Motor Co, Kia Corp and premium brand Genesis - plans to introduce in the period through to 2030. Kia said in April that it aims to sell about 1.6 million EV units in 2030.
Kia President Song Ho Sung said the South Korean automaker aimed to price the EV3, based on the dedicated Electrified-Global Modular Platform (E-GMP), in a USD 35,000 to USD 50,000 range.
"Mainly the barriers are pricing issues and charging infrastructure. And we are making the EV3 very much accessible to our customers with the pricing level that customers are expecting for our vehicle," Song told reporters at a press conference ahead of the launch.
In October, Kia said it intended to develop a wide range of EV models priced between USD 30,000 and USD 80,000, including smaller EVs like the EV5, EV4, and EV3.
In comparison, Volvo Cars last year launched its EX30 electric compact SUV with a starting price of around 36,000 euros (USD 38,973.60).
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