Hyundai to launch a new electric mini-SUV at €20K
Hyundai is prepping an entry-level electric mini-SUV called Casper to take on rivals Dacia Spring and Citroën’s ë-C3 in Europe. The best part, the price is aimed at that elusive yet coveted €20,000 range (about $21.5K).
The Casper, an ICE vehicle on sale in South Korea, will get a fresh new look in the form of an all-electric city car–slash–mini-SUV, releasing in European markets by the end of this year. The car is expected to go into production in July.
In France, where the Casper has been announced by France’s head of Hyundai Lionel French Keogh, the car may additionally benefit from EV subsidies, further pushing that price tag down to well below €18,000, reports Auto Moto. That too could suggest that the electric version will be produced in the Czech Republic alongside the electric Kona, which starts in Germany at a pricier €36,400.
However, Automotive News Europe reported today that the Casper EV will be made in the Gwangju factory in South Korea, where it will be produced alongside its ICE sibling – the ICE version, however, won’t be coming to Europe.
Assuming the Casper can meet France’s subsidy requirements based on where it is produced, it gives it a leg up on the Chinese-built Dacia Spring, which starts just at around €20,800 but has been bumped from the list this year. I
What to expect performance-wise? The Casper should be on par with the top-selling Dacia Spring’s modest range of around 200-300 km (125 to 187 miles) and come with a lithium iron phosphate battery – so we’re not talking a powerhouse here, but enough to fit the bill for a lightweight city car.
Size-wise, the ICE version of the Casper is only 3.60 meters long (about 11.8 feet), but spy shots of test drives in Sweden show a slightly longer car, about 200-250 mm (eight to 10 inches) longer than the Korean version, Automotive News Europe reports.
The new Casper joins a flood of small, cheap EVs landing in Europe, including Renault’s electric Twingo and Citroën’s ë-C3, not to mention new models coming from BYD and SAIC’s MG Motors. Several new models are targeting a starting price of €25,000 or less, including the Renault 5, Twingo, and the BEV Fiat Panda. Is this a move toward embracing an electric kei car model? It certainly wouldn’t be a bad thing for the planet’s future.
Photo credits: Hyundai
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In this photo illustration, the logo for the US tech firm “Block” is displayed and reflected in a number of digital screens on March 03, 2023 in London, England.
Leon Neal | Getty Images
With its stock down more than 30% this year and revenue growth slowing, Jack Dorsey’s Block is going bigger in lending.
The company on Thursday said it secured approval from the Federal Deposit Insurance Corporation to originate loans through its banking subsidiary, Square Financial Services, allowing it to offer small-dollar consumer loans directly rather than relying on external banking partners.
It’s an expansion of Cash App Borrow, the company’s short-term lending product. But it comes at a time of increased concerns surrounding consumer credit, with President Trump’s expansive tariffs and widespread government job cuts raising talk of a potential recession.
Transaction losses in Block’s lending segment jumped 39% last quarter, and while the company claims its underwriting model is strong, small-dollar lending is inherently risky.
“Cash App Borrow is designed to provide short-term cash flow in a simple and accessible way when alternatives are notoriously expensive and difficult for consumers to navigate,” Block said in the press release. The company added that the average Cash App Borrow loan was under $100 and about a month in duration.
Block didn’t immediately provide a comment.
In getting approval to operate the lending business out of its own bank, Block says it will be able to offer the product nationwide.
Last month, Block reported quarterly results that missed Wall Street expectations, with revenue growing just 4.5% from a year earlier. The stock plunged 18%, its worst one-day drop since 2020.
Around the same time, Block rolled out Afterpay, its buy now, pay later product, on the Cash App card. Chief Financial Officer Amrita Ahuja told CNBC that the launch aimed to provide customers with more credit options, and positioned Cash App as a banking alternative for some customers. Block acquired Afterpay, which competes with Affirm, for $29 billion in early 2022.
Also this week, Block announced a big investment plan in artificial intelligence.
The company said on Wednesday that it will deploy Nvidia’s AI systems with its latest Blackwell chips to power open-source AI research. Block didn’t say what specifically it’s looking to achieve through its AI buildout, but noted in the press release that it will “start exploring novel solutions for our customers.”
![Kia's first electric van looks even better in person [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/03/Kias-first-electric-van-PV5-1.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
Kia is launching its first electric van, the PV5, later this year. If you liked how it looked in pictures, wait until you see it in real life. A production PV5 was spotted in Korea for the first time, giving us a closer look at the futuristic van. See it for yourself in the video below.
Kia’s first electric van spotted in Korea
After teasing it for what seemed like forever, Kia finally took the sheets off the PV5 at its 2025 EV Day event last month.
With its hard-to-miss futuristic design, the PV5 is a near replica of the concept shown at CES last January. The mid-size electric van is set to kick off Kia’s new Platform Beyond Vehicle (PBV) strategy.
The PV5 will initially be available in Passenger, Cargo, and Chassis Cab setups, but with “unprecedented flexibility,” you can expect to see more options soon. Two of the first will be the PV5 Crew, with additional cargo securing options and a Wheelchair-Accessible Vehicle (WAV) version.
After that, Kia will follow it up with Drop Side, Box Van, Freezer, Box, and Prime variations. It plans to launch a Light Camper conversion.
With sales kicking off in the second half of 2025, Kia’s electric van was spotted in Korea for the first time without camouflage. A new video from HealerTV gives us a better idea of what to expect when the PV5 hits dealerships later this year.
The PV5 maintains its techy, almost ahead-of-its-time design. Two exterior body colors were shown: white and a darker grey or black. As the reporter notes, it actually looks like an upgrade from the concept.
Kia did what it could at the back so it didn’t look like a bus, giving it more of a rounded overall shape. You can see how it stands apart from most MPVs you see today.
Like the Volkswagen ID.Buzz, Kia’s PV5 looks more like a minibus. At 4,695 mm long, 1,895 mm wide, and 1,899 mm tall, Kia’s passenger electric van is slightly smaller than the European ID.Buzz model (4,712 mm long, 1,985 mm wide, 1,937 mm tall).
It will be available with 51.5 kWh and 71.2 kWh battery packs, good for up to 400 km (249 miles) WLTP range. The PV5 can also fast charge (10% to 80%) in about 30 minutes. In comparison, powered by an 84 kWh battery, the ID.Buzz now offers up to 293 miles WLTP range.
Kia will launch sales in Korea and Europe later this year, followed by other global markets in 2026. Pre-orders will open soon, so check back for prices.
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