Although Rivian and Tesla are making headlines with planned expansions into mass-market electric vehicles, Kia is set to launch two affordable EVs of its own. One of them, the Kia EV3, is expected to launch by the end of the year.
More affordable EVs are coming
Rivian unveiled its highly anticipated R2 electric SUV Thursday. The electric SUV will start at $45,000, with all trims boasting over 300 miles range.
At 4,715 mm long, 1,700 mm tall, with a wheelbase of 2,935, the R2 is smaller than Rivians current R1S electric SUV ( 5,100 mm x L, 1,873 mm x H, 3,075 x wheelbase). You can think of it more as the size of a Tesla Model Y.
Rivian’s CEO, RJ Scaringe, had a Steve Jobs moment, revealing “one last thing,” an even more affordable and compact R3. It will include a tri-motor R3X, Rivian’s first high-performance compact EV.
Scaringe announced the R2 was already generating strong interest, with over 68,000 reservations in under 24 hours.
To accelerate the launch, Rivian will build the R2 at its Normal, Illinois facility rather than its new plant in Georgia. The more affordable Rivian R2 is set to begin production in the first half of 2026, and Rivian’s R3 will follow.
Rivian R2 (Source: Rivian)
Rivian isn’t the only EV maker making a push into cheaper, mass-market electric cars. Tesla is also planning to launch next-gen EVs. Although Tesla initially planned to build them at its new Gigafactory in Mexico, an excerpt from CEO Elon Musk’s biography said the next-gen EVs will be made in Texas.
Rivian R3X (Source: Rivian)
Kia is launching cheaper mass-market EV
Although Rivian and Tesla are getting all the attention, Kia has big plans to enter the mass market with more affordable EVs.
Kia has found recent success with its first three-row EV9 electric SUV. In the first two months of 2024, Kia sold 2,726 EV9 models in the US, outpacing the EV6 crossover.
Kia EV9 Trim
MSRP (including $1,495 destination fee)
EPA Est. Range (miles)
Light RWD
$56,395
230
Light Long Range RWD
$60,695
304
Wind e-AWD
$65,395
280
Land e-AWD
$71,395
280
GT-Line e-AWD
$73,900
270
2024 Kia EV9 trim prices and range
The EV9 starts at $54,900, but the sporty GT-Line will run you nearly $74,000. Meanwhile, Kia looks to get back to its roots with more affordable EVs, including the EV3 and EV4.
Kia revealed the EV3 and EV4 concepts during its first annual EV Day in October. The new EVs are part of Kia’s wide-ranging electric car lineup, priced between $30,000 and $80,000.
Kia EV lineup from left to right: EV6, EV4, EV5, EV3, EV9 (Source: Kia)
The EV3 is expected to be the lowest-priced model, with starting prices around $30,000. Kia’s entry-level EV3 represents the brand’s vision of an all-electric compact crossover. It takes design, tech, and other features from the EV9 and puts it into a smaller, more affordable package.
Kia is expected to launch the EV3 later this year, if not by the end of 2024 or early 2025. If true, that will beat Rivian’s R2 (2026) and Tesla’s next-gen EVs, which are expected in late 2025.
The EV4, Kia’s entry-level electric sedan, is expected to start at around $35,000. Kia describes the EV4 as an “entirely new type of sedan that stands as a symbol of innovation.”
Although the EV4 was also expected to launch by the end of 2024, local media reports claimed Kia VP Woo-Jeong Joo said it would be pushed back to early 2025. Kia’s leader said the move was to launch the models sequentially for maximum success.
Kia EV4 concept (Source: Kia)
Kia has already launched its compact EV5 electric SUV in China with starting prices around $20,000 (149,800 yuan).
Electrek’s Take
Kia has a real opportunity to redefine the brand with the more affordable mass-market EVs like the EV3 and EV4.
Although several cheaper electric cars are on the US market, like the Chevy Bolt EV and Nissan LEAF, both are being phased out in favor of upgraded versions. By launching at least one entry-level model by the end of the year, Kia can capture an early lead in the affordable EV market.
The second entry-level (EV4) electric car, due out early next year, can play a key role in Kia’s transition to EVs with few competitors outside the Tesla Model 3 and Hyundai IONIQ 6.
It’s not quite fair to compare Kia to Rivian and Tesla, as both EV makers are viewed as more “premium” brands. However, with affordable models, Kia can carve its spot in the EV market, a segment it’s known for.
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The German city of Karlsruhe is setting an example for sustainability in waste management by deploying a fleet of 18 Mercedes-Benz eEconic electric garbage trucks that are helping make the streets cleaner, quieter, and a lot less stinky.
Since the end of September, the city of Karlsruhe has been relying on Mercedes’ fully electric waste collection vehicles throughout, with none of the area-specific restrictions or limited rollout strategies for one or two trucks at a time that typically accompany stories like these. Instead, the city is using the Mercedes eEconics for the same stuff they’d use the diesel versions for: residual waste disposal, paper collection, and bulky waste collection.
Normal garbage duty, in other words. And, in such daily use, they do a great job. The trucks cover an average route distance of around 80 km (about 50 miles) on 112 kWh battery packs (usable capacity is ~97 kWh) which can be reliably completed in single-shift operation without intermediate charging — thanks, in part, to Mercedes’ efficient electric motors and regenerative braking that shines in the trucks’ typical stop-and-go duty cycles.
More than a single shift, in fact. The fleet managers report that after “a good 80 kilometers with around 60 stops on its daily route,” energy consumption was only around 35% of the battery capacity, meaning the charge level dropped from 100% to 65% and 64% respectively.
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At the same time, CO₂ emissions are significantly reduced: depending on the area of application, each eEconic can save between 150 and 170 tons of CO₂ per year. This results in a total potential annual saving of around 1,200 tons of CO₂ emissions.
The purchase of the electric vehicles was funded by the Federal Ministry of Transport (BMV) as part of the guideline on the promotion of light and heavy commercial vehicles with alternative, climate-friendly drives and the associated refueling and charging infrastructure (KsNI). The funding guideline was coordinated by NOW GmbH, and applications were approved by the Federal Office for Logistics and Mobility.
Electrek’s Take
Look, you know me. There is absolutely ZERO chance that I’ll be able to remain objective about anything that’s putting down more than four thousand lb-ft of torque. Make that thing quieter, cleaner, and generally better for me and my community, and there’s even less of a chance of me saying anything critical about it.
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Electreon just took a big step toward expanding wireless EV charging. The Israel-based company signed a memorandum of understanding (MoU) to acquire the assets of InductEV, a Pennsylvania-based firm known for its ultra-fast, high-power static wireless charging systems used by heavy-duty electric transit and freight fleets.
If the deal closes after due diligence and regulatory approvals, the combined company would bring together Electreon’s dynamic wireless charging tech – the kind that can charge vehicles while they drive – with InductEV’s high-power stationary systems. That would create one of the most complete wireless charging portfolios on the market, covering everything from passenger EVs to vans, buses, heavy-duty trucks, and even autonomous vehicles.
Electreon and InductEV together hold around 400 granted and pending patents, and have a lot of field experience across their respective projects. Electreon says that pairing its manufacturing capabilities and global footprint with InductEV’s ultra-fast tech will help streamline and speed up fleet electrification.
Both companies already work with major vehicle OEMs, which Electreon asserts will make integrating wireless charging into future vehicle platforms easier.
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Electreon CEO Oren Ezer said the deal would combine the two companies into “a truly global powerhouse for wireless EV charging.” He added that “the decision by InductEV’s shareholders to invest in Electreon is a tremendous vote of confidence in our shared vision.”
InductEV CEO John F. Rizzo said, “Together, we’re combining world-class innovation with real-world experience to deliver even greater value to our North American and European customers and accelerate the shift to wireless power for sustainable commercial transportation.”
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The Dolphin Surf is already one of Europe’s cheapest EVs, yet BYD may have an even more affordable electric car up its sleeve.
Is BYD launching the Racco mini EV in Europe?
BYD revealed the Racco at last month’s Japan Auto Show, its first EV designed exclusively for overseas markets.
The mini EV, or “kei car,” is launching in Japan, where over 1.55 million of them were sold last year, accounting for about a third of new vehicles sold.
Although Japan has been a brutal market for foreign brands to crack, BYD believes it may have an edge. The Racco measures 3,395 mm in length, 1,475 mm in width, and 1,800 mm in height, or about 600 mm longer than the Dolphin Surf.
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That’s about the size of the Nissan Sakura EV, Japan’s best-selling electric car. Like the Sakura and most kei cars, the Racco has a boxy, upright stance. It has four doors, with the back two sliding open.
BYD Racco EV (Source: BYD)
Powered by a 20 kWh battery pack, the mini EV is expected to have a driving range of around 180 km (112 miles).
BYD is using its Blade lithium iron phosphate (LFP) battery packs to keep costs down. Although prices have yet to be revealed, the Racco is expected to start at around 2.5 million yen ($18,000) in Japan, putting it on par with the Nissan Sakura.
The BYD Racco EV debuts at the Japan Mobility Show (Source: BYD)
If it launched in Europe, the Racco could go on sale for under £15,000 ($20,000), putting it on par with the Dacia Spring (£14,995) and Leapmotor T03 (£15,995). The BYD Dolphin Surf currently starts at £18,650 ($24,300).
Although it will arrive in Japan first, BYD may launch its smallest, cheapest EV in Europe after all. BYD’s vice president Stella Li suggested to Autocar that the Racco could play a key role globally as an affordable, entry-level EV.
The BYD Dolphin Surf EV (Source: BYD)
“In Japan, we are already launching a kei car; we will be very interested to follow the EU regulation,” Li said, adding, “If there’s some space, we can bring that car here.”
The regulation Li is referring to is the new “E-car” segment that the European Commission president, Ursula Von der Leyen, called for in September.
Von der Leyen said that Europe “should have its own E-car,” where “E” stands for efficient, economical, and European, and added “we cannot let China and others conquer this market.”
The Racco could sit underneath the Dolphin Surf in BYD’s growing European lineup. However, the company is focusing on expanding hybrid options. Li said launching Racco was “not a topic” the company is immediately focused on.
The Seal U, Europe’s best-selling plug-in hybrid through September, will be the first vehicle built at BYD’s new factory in Turkey, as it seeks to gain an edge through local production.
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