Kia EV6 is driving automaker’s push into China as its first EV for the market, EV5 to follow
South Korean EV automaker Kia Motor announced its initial entry into the market of China, beginning with its super popular EV6 crossover. The automaker debuted several concepts overseas today, including the EV5, which will be its first global model built in China.
Kia Corporation is the second largest automobile manufacturer in South Korea behind Hyundai Motor Group, which owns a minority stake. In March 2022, Kia held a virtual Investor Day, when the public learned details of the automaker’s 2030 strategy focused on increased sales, new BEV models, and entry into delivery vehicles.
Plans include the launch of at least two BEV models per year beginning in 2023 to encompass a complete lineup of 14 BEVs by 2027. This expansion includes its flagship EV9 model, which we recently got our first official glimpse of ahead of its full debut later this month.
Those plans also include the GT version of its EV6 crossover seen above, which has already gained hype by racing a Lamborghini Aventador SVJ. Today we learned that the EV6 will kick off Kia’s entry into the crowded EV market of China and will be followed by the EV9, but there is also another EV concept in the works that will soon call China home.
Kia to try its luck in a saturated EV market in China
Kia Motor hosted a launch event in China today, sharing that it will officially enter the EV market overseas, beginning with the launch of the EV6 as an import in August. The company also unveiled its EV9 Concept, EV5 Concept, and EV6 GT to the audience as EVs to soon follow.
According to Kia, the EV5, in particular, will arrive as the Korean automaker’s first global model to be built in China and will debut in the country this coming November. It will be followed by the aforementioned EV9 SUV in 2024, an entry-level BEV SUV in 2025, and a premium electric sedan based on Kia’s next-generation EV platform in 2026. Lastly, Kia shared it is also developed a new midsize electric SUV scheduled to launch in 2027.
It’s not clear at this point if any of the Kia EVs in the pipeline will join the EV5 on the assembly lines in China, but the automaker is certainly looking to make an immediate impact this decade in a country that is embracing and developing all-electric vehicles at a quicker pace than most other continents.
Looking ahead, the automaker is aiming to sell 450,000 units annually by 2030, 40% of those sales being BEVs. Kia says it is currently working to implement the necessary sales channels, dealerships, and showrooms in China to promote its entry into the EV market. This strategy will also include City Stores in core business districts throughout China, including Beijing, Shanghai, Guangzhou and Shenzhen.
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Tesla just released the Model 3 Performance on Tuesday, and already Tesla has hiked the price by $1,000.
The Model 3 Performance came out the morning of Tesla’s quarterly earnings report earlier this week, with lots of updates.
Tesla updated the car’s bodywork, seats, steering, brakes, damping, track mode software, and of course the rear drive unit, giving the car 510hp and a 0-60 time of 2.9 seconds.
And, given the fact that it qualifies for the US Federal EV Tax credit, it’s actually cheaper than the lower-spec Long Range Model 3 (which starts at $47,740) after taking the credit into account.
The Model 3 Performance has also garnered rave reviews both from online observers who note its impressive specs and value proposition compared to competing vehicles, and from the few car reviewers who Tesla deigned to allow to review the vehicle ahead of its release.
Perhaps due to the confluence of these factors, Tesla has now decided that its raved-about vehicle might be worth more than it originally decided to sell it for, and has thus raised the price by $1,000.
Now, the Model 3 Performance starts at $53,990, rather than $52,990.
This still makes the performance model ~$1k cheaper to purchase than the Long Range version, assuming you qualify for the tax credit. However, since the tax credit is attainable even on non-qualifying cars via a lease, the lease rates for the RWD ($299/mo) and Long Range AWD ($439/mo) are still significantly cheaper than the Performance AWD model ($566/mo).
Perhaps to balance this price increase, Tesla also reduced the price of some paint and interior options. Now, the solid black exterior paint color is $1,000, down from $1,500, and the black and white interior now costs $1k, rather than $1,500. Other paint options remain the same price as before.
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Environment
Hyundai’s new Kona Electric is even cheaper to lease than the gas-powered model at $169/mo
The newly designed Hyundai Kona Electric is better in every way, with more range, faster charging, and a bold new style. Hyundai’s new 2024 Kona Electric is even cheaper to lease than the gas-powered model, starting at $169 per month.
Hyundai Kona Electric cheaper to lease than gas model
Hyundai revealed the 2024 Kona Electric at the NY Auto Show last April with a sleek new “EV-derived” design.
You can instantly see the upgrades with a modern style closer to its IONIQ 5 and 6 dedicated EVs. The inside is nearly 6″ longer, with an additional 3″ legroom in the second row. A flat floor design creates more head and shoulder space than the previous model.
Hyundai included its next-gen dual 12.3″ infotainment system with a faster, more intelligent user face. It also comes with Android Auto and Apple CarPlay as standard.
The 2024 Kona EV features a slightly bigger battery with faster charging and up to 261 miles range. Starting under $33,000, the 2024 Kona Electric is already one of the most affordable EVs in the US.
2024 Kona EV prices
It’s available in three trims: SE, SEL, and Limited. The base SE model includes a 48.6 kWh battery for up to 200 miles range. The SEL and Limited feature a 64.8 kWh battery, good for up to 261 miles range.
2024 Hyundai Kona electric trim |
Starting Price (not including a $1,335 delivery fee) |
| SE | $32,675 |
| SEL | $36,675 |
| Limited | $41,045 |
With an up to $7,500 featured cash offer, you can lease the 2024 Hyundai Kona Electric SE for as low as $169 per month.
The deal is for 24 months, with $1,999 due at signing. It also includes the $7,500 EV Lease Bonus for a net capitalized cost of $25,370.
If you’re looking for the higher-range SEL trim, it can be leased for as little as $199 per month. That’s also for 24 months, with $1,579 due at signing. With the EV credit, the net capitalized cost is $29,419.
However, you may have to act fast. Hyundai’s website shows the deal ends in five days on April 30, 2024.
Are you ready to drive off in your new Hyundai Kona Electric at some of the lowest prices yet? We can help you get started. You can use our link to find deals on the 2024 Hyundai Kona Electric near you today.
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On the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss all the news coming out of Tesla’s earnings, Model 3 Performance, Mercedes-Benz electric G-Class, and more.
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