Kia expands EV offering

South Korean auto manufacturer Kia has unveiled three new electric vehicle models as it looks to widen its offering to customers in the sector.

The EV5 is a compact electric SUV aimed at families, the EV3 is a more compact version of Kia’s flagship SUV the EV9 and the EV4 is a four door sedan.

The prices of the vehicles will range from $35,000 to $50,000, at the more affordable end of Kia’s price range.

“We will meet customer expectations by offering a full line-up of EVs at various price points and improve charging infrastructure availability,” says Kia CEO Ho Sung Song.

The EV3 will be launched in the first half of 2024, the EV4 in the second half of 2024, and the EV5 in the first half of 2025.

The EV5 standard model has a 64kWh battery pack and a driving range of 530km per charge. The long-range model has an 88kWh battery and a driving range of 720km per charge. 

An advanced heat pump system has been incorporated into the EV5 to manage the battery’s temperature in different climates.

Kia also unveiled plans to improve customer experience including a smartphone app, in-vehicle AI services, and better customer services at charging locations. The app will feature an ‘e-routing’ function, which finds the best route for a vehicle, taking into account location of charging stations and battery status. 

Expanding footprint

Kia’s goal is to achieve an annual sales target of 1mn electric vehicle units by 2026 and 1.6mn units by 2030. The firm sold just under 270,000 EVsin 2022.

The firm also has a target of establishing eight EV production facilities by 2025, up from two currently. 

In Europe, it will focus on the production of small and medium-sized EVs, while in China, the focus will be on mid to large-sized EVs. In North America Kia will roll out a diverse range of EV models to take advantage of subsidies put in place by the Inflation Reduction Act (IRA).

The brand is actively establishing battery joint ventures to ensure a stable global battery supply chain to underpin its global EV production network. And it is also expanding its global charging networks.

In North America it will adopt the North American Charging Standard (NACS) from the fourth quarter of 2024. This move will give Kia customers access to around 12,000 Tesla superchargers. But, alongside parent Hyundai, the firm is also part of a seven-strong OEM consortium planning to launch a standalone US EV charging venture.

In Europe, it has collaborated with four other OEMs to install 2,800 fast-charging stations along key highways, with the aim of having 7,000 such stations by 2025.