At the 2014 Kia EV Day APAC event, Kia introduced four new electric vehicles for the region: the EV3, EV4 Concept, EV5, and PV5 Concept, all of which are slated for release starting in 2025. These models will be priced between USD 35,000 and USD 50,000, with Kia emphasizing its ambition to offer a diverse range of electric vehicles at various price points. Additionally, the company announced plans to release more affordable entry-level EVs, including the upcoming EV2, which is expected to be priced under USD 35,000. However, Kia has not yet disclosed a specific launch timeline for these budget-friendly models.
The EV2, which has been seen undergoing tests, is expected to have a design similar to a boxier version of the Hyundai Inster. In the meantime, the EV3 is Kia’s next most affordable EV for the Asia Pacific market. This B-segment vehicle features a front-wheel-drive system and offers a range of up to 605 km with an 81.4 kWh battery. This makes the EV3 a strong competitor in Southeast Asia, where Chinese companies like BYD dominate the market with a variety of more affordable EVs, such as hatchbacks and SUVs.
Kia’s strategy places greater importance on targeting market demand and brand differentiation rather than competing solely on price. Unlike many Chinese EV manufacturers, which focus heavily on cost, Kia intends to position itself through brand value and market-specific strategies. The company is aiming for ambitious goals, such as selling 1.6 million EVs annually and capturing 38% of the global EV market by 2030. To support this, Kia plans to establish six EV production bases worldwide by 2025, spanning regions including Korea, Europe, the US, India, China, and the Asia Pacific.
In response to the slower adoption of electric vehicles in some emerging markets, Kia is developing tailored strategies for different regions. These plans may involve local development and assembly of vehicles, ensuring that they meet the specific policies and needs of various countries. Kia sees the transition to electric mobility as not just an opportunity but a necessity, and it is committed to implementing strategies that address regional variations in infrastructure and consumer readiness.
To accommodate consumers who are hesitant about fully transitioning to electric vehicles, Kia is expanding its Hybrid Electric Vehicle (HEV) lineup. In 2024, Kia will offer six HEV models, and this number is set to increase to eight by 2025. This approach reflects Kia’s effort to offer both fully electric and hybrid options, ensuring a smoother transition for consumers and positioning itself as a leading player in the move toward sustainable mobility.