With another low-cost (under $35K) electric car launching next year, Kia is setting an ambitious goal. Kia will launch EV4 production in early 2025, aiming to build 70,000 models a year to meet the demand for affordable EVs.
A new affordable EV is coming next year
Kia unveiled the EV4 last October as part of its new lineup of mass-market electric vehicles. According to Kia, the EV4 “redefines the electric sedan.”
The EV4 will join the EV3, which launched in Korea earlier this month. Kia opened EV3 orders in its home market, starting at $30,700 (KRW 42.08 million). With incentives, Kia expects EV3 prices will fall to as low as $29,200 (KRW 39.95 million).
Kia aims to sell 18,0000 EV3 models by the end of 2024. Next year, the EV3 will launch in Europe and the US.
The EV3 is expected to start at around $30K to $35K as one of the most affordable EVs. With Kia reportedly planning to build the EV3 in Mexico, federal incentives like the EV tax credit could drive prices even lower.
Kia to launch new EV4 in 2025
Kia previously revealed plans to “sequentially” launch its new affordable EV lineup. Following the EV3 debut this year, Kia’s EV4 will follow in 2025.
According to local news outlet ETNews, Kia will launch EV4 production in March 2025. Kia produced its first prototype last month and is already testing the production model in various markets.
Kia will finish EV4 development by February, while production is slated to begin at its Gwangmyeong Plant 2 in March.
With its unique design and low starting price, Kia expects the EV4 to fill a void in the market. It aims to build 70,000 EV4 models a year.
Including 100,000 EV3s, Kia expects production to reach 170,000 annually. The report also notes Kia could build the EV4 in overseas markets.
Ahead of its official debut, the EV4 was spotted out in the wild last week (Check out the video here). You can see the EV4’s distinct rear end as it passes by.
Kia’s EV4 represents its “determination to push boundaries and accelerate the EV Revolution.” It will include Kia’s latest software and connectivity tech (including its new ccNC infotainment).
The EV4 is expected to start at about the same price ($30K) as the EV3, if not slightly more. Kia will launch the EV4 in Korea first, followed by Europe, the US, and other global markets.
Kia’s EV4 will compete against the Tesla Model 3 and Hyundai IONIQ 6 in the electric sedan segment.
Kia is aiming to sell 307,000 EVs this year. By 2027, Kia expects to sell 1.6 million as it builds a full lineup of 15 electric cars.
Source: TheKoreanCarBlog, ETNews
FTC: We use income earning auto affiliate links. More.
