The newest affordable electric car has officially hit the market. Kia began accepting orders for its new EV3 in Korea this week with a starting price of $30,700 (KRW 42.08 million). The EV3 is Kia’s third EV and the first of its next-gen affordable lineup.
Meet the newest low-cost EV
After introducing the EV3 in October during its first annual EV Day, Kia finally revealed official prices this week.
Kia teased the new low-cost electric car several times ahead of its debut last month. The EV3 takes the updated design and tech from Kia’s flagship EV9, compressing it into a smaller, more affordable package.
However, Kia promises that the EV3 “carves out its own identity” unlike anything in its segment.
One of the most noticeable differences is the “Tiger Face” grille up front, replacing Kia’s old “Tiger Nose” design.
Kia has revamped the brand in the electric era with a stylish new design and logo. The EV3 is viewed as a major catalyst for Kia’s transformation.
The interior is loaded with tech, featuring Kia’s next-gen Connected Car Navigation Cockpit (ccNC) infotainment system. The new system includes dual 12.3″ screens with Apple CarPlay and Android Auto support.
Kia EV3 GT-Line (Source: Kia)
After opening orders in Korea, Kia’s domestic business headquarters VP, Jeong Won-Jeong, said, “We expect customers who have been hesitant to purchase an electric vehicle to choose the EV3 without hesitation.”
Kia opens EV3 orders with a starting price of $30,700
Kia opened orders for the new EV3 this week in Korea with a starting price of just $30,700 (KRW 42.08) before tax benefits.
Contracts at Kia branches and dealerships began nationwide on Tuesday with high hopes for the brand’s third EV. Following the EV6 and EV9, Kia’s EV3 will “further enhance Kia’s position as a leading electric vehicle brand” by giving more buyers access to electric options.
Kia EV3 GT-Line (Source: Kia)
The standard EV3 model’s starting price is $30,700 (KRW 42.08 million). Meanwhile, other EV3 trim prices start at $33,400 (KRW 45.71 million) for the Earth and $34,100 (KRW 46.66 million) for the GT Line and Long Range models. Those prices are before tax incentives.
After the environmental-friendly vehicle notification is complete, Kia expects the EV3 price to start at $29,200 (KRW 39.95 million) for the standard model.
Kia EV3 trim
Range
Starting Price
Starting Price After Incentives
Standard
217 mi (350 km)
$30,700 (KRW 42.08 million)
$29,200 (KRW 39.95 million)
Earth
Standard: 217 mi (350 km) Long Range: 311 mi (501 km)
$33,400 (KRW 45.71 million)
N/A
GT Line
Standard: 217 mi (350 km) Long Range: 311 mi (501 km)
$34,100 (KRW 46.66 million)
N/A
Long Range
311 mi (501 km)
$34,100 (KRW 46.66 million)
$32,200 (KRW 44.15)
Kia EV3 price and range by trim in Korea
The long-range model is expected to start at just $32,200 (KRW 44.15 million) after incentives. Following the government’s certification, Kia plans to begin full-scale sales in July.
Based on Hyundai’s E-GMP platform and 4th-gen batteries, the EV3 (Long-Range model) has up to 311 miles (501 km) driving range. The standard EV3 can drive up to 217 miles (350 km).
Kia EV3 GT-Line interior (source: Kia)
The Long Range model has an 81.4 kWh battery capacity, while the Standard model has a 58.3 kWh battery.
With a 350 kW charger, the EV3 can charge from 10% to 80% (standard battery) in 29 minutes. The long-range battery takes 31 minutes. The combined fuel efficiency is 5.4 km/kWh for the long-range and 5.2 km/kWh for the standard model.
Kia also launched its “e-Life Package” on Tuesday. The program combines charging, vehicle care, and used-price vehicle guarantees to improve the EV ownership experience.
Kia EV3 GT-Line (Source: Kia)
An invitation event, “EV3 Exclusive Preview,” will be held from June 15th to the 16th for customers to experience Kia’s new electric car.
After the EV3 rolls out, Kia is expected to launch the EV4. It will be Kia’s take on an entry-level electric sedan. The Kia EV4 is expected to launch next year with starting prices around $35,000.
What do you think of Kia’s new EV3? Would you buy it for $30,000? Comment below to let us know your thoughts.
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If you’re considering going electric, May will be a great time to score a deal on an EV lease. Automakers are slashing lease prices on some of the most popular EVs to move inventory – here are four standouts.
Nissan Ariya SUV
Photo: Nissan
The Nissan Ariya SUV has an MSRP of $41,805. Its lease term is 36 months, with $4,409 due at signing and a mileage allowance of 10,000 a year. Monthly payment? A sweet $129!
Nissan cut the 2025 Ariya Engage’s price by $144 in April, so it now has an effective monthly cost of $251 – that’s seriously affordable for an electric SUV. If you’re already a Nissan driver, then you’re going to get an even better deal, because Nissan is offering a $1,000 loyalty discount on the Ariya, which brings its effective cost down to $224 per month.
CarsDirect, which sniffed out this deal, thinks this Ariya deal will be in place until Memorial Day, so take advantage of tariff-free pricing while you can.
The Honda Prologue SUV has an MSRP of $48,850. Its lease term is 36 months, with $1,399 due at signing and a mileage allowance of 10,000 a year. The monthly payment on the Prologue is $239.
The 2024 Honda Prologue has up to $18,800 in rebates, and the price includes a $1,000 lease loyalty discount or conquest offer. In California and other ZEV states, the EX has an effective cost of just $278 per month; in other parts of the US, pricing will be around $30 higher. This offer ends July 7.
The Tesla Model 3 has an MSRP of $43,880. Its best lease term is 24 months, with $1,044 due at signing and a mileage allowance of 10,000 a year. The monthly payment on the Model 3 is $349.
The 2025 Tesla Model 3 still has the $7,500 federal government EV rebate. Several months ago, Tesla reduced the amount due at signing on all Model 3s. And for those who want to lease a Long Range Model 3, the effective cost can be as low as $393 per month.
You can lease the Model 3 for 36 months, but the folks at CarsDirect found that the better deal will be had on 24-month leases. They compared the Model 3’s MSRP to the 2025 Lexus IS 300 F Sport’s MSRP, which is nearly identical, and the Model 3 was around 30% cheaper to lease.
Acura ZDX
Photo: Acura
The 2024 Acura ZDX has an MSRP of $65,850. Its best lease term is 36 months, with $4,699 due at signing and a mileage allowance of 7,500 a year. The monthly payment on the ZDX is $299.
The 2024 ZDX is Acura’s cheapest vehicle to lease because it features up to $29,450 in lease cash. However, the best deal is limited to California and ZEV states. If you cash in on a loyalty discount or conquest cash, the effective cost is $430 per month. This offer runs til June 30.
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Ford (F) reported its first-quarter earnings, beating Wall Street’s revenue and EPS expectations. However, with Trump’s auto tariffs, Ford is suspending full-year guidance. Here’s a breakdown of Ford’s Q1 2025 earnings
Ford Q1 2025 earnings preview
After crosstown rival General Motors cut its full-year financial guidance last week, investors are waiting to see if Ford will follow suit.
Ford’s previous 2025 forecast called for EBIT of $7 billion to $8.5 billion and capital expenditures between $8 billion and $9 billion.
The biggest threat is Trump’s new auto tariffs, which include a 25% duty on imported vehicles and many parts. Since Ford builds a greater percentage of vehicles in the US than any other major automaker, outside of Tesla, it isn’t expected to see as big of an impact.
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CEO Jim Farley called it “an opportunity for Ford,” during an interview with CNN last week, saying the company has a “different footprint, a different exposure for tariffs.”
Ford imports around 21% of the vehicles it sells in the US, while GM imports around 46%. According to Estimize, Wall St expects Ford to post Q1 EPS of $0.0 on revenue of $38.02 billion.
The company reports earnings for each of its three business units, Ford Blue (gas-powered vehicles), Model e (electric vehicles), and Ford Pro (commercial and software business).
In the fourth quarter, Ford’s EV unit (Model e) lost another $1.4 billion while Pro and Blue each reported an adjusted EBIT of $1.6 billion.
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)
Financial breakdown
Ford beat Wall Street estimates, reporting first-quarter revenue of $40.7 billion with an adjusted EPS of 0.49.
Q1 2025 Revenue: $40.7 billion vs $38.02 billion expected.
Q1 2025 Adjusted EPS: $0.49 vs $0.0 expected.
The company posted adjusted EBIT of $1 billion, down 63% from Q1 2024. Ford said its first-quarter EBIT suffered a nearly $200 million hit from added tariff costs, primarily in Ford Blue and Ford Pro.
Ford Pro generated an EBIT of $1.3 billion, Ford Blue $96 million, and Ford Model e reported an EBIT loss of $849 million.
Ford Model e Q1 2025 earnings (Source: Ford)
For Model e, the company is focused on improving gross margins and “exercising a disciplined approach to investments in battery facilities and next-generation products.” Although still a nearly $1 billion loss, it’s still a $500 million improvement from Q1 2024.
Ford said higher Model e revenue was driven by new EVs launching in Europe, like the electric Explorer and Capri.
Ford’s electric vehicles in Europe from left to right: Puma Gen-E, Explorer, Capri, and Mustang Mach-E (Source: Ford)
The company said its “Power Promise” promotion, which includes a free home charger and several other benefits, has helped drive demand in the US.
Although it’s tracking within its previous full-year adjusted EBIT guidance of between $7 billion and $8.5 billion, Ford is suspending full-year guidance due to the uncertainty surrounding tariffs.
2025 Ford Mustang Mach-E (Source: Ford)
Ford estimates the full-year gross cost of tariffs to be around $2.5 billion. It expects a tariff-related net adverse adjusted EBIT impact of about $1.5 billion for the full year 2025.
Ford also extended its “From America, For America” campaign last week. The promo includes employee pricing on most 2024 and 2025 models and now runs through July 4.
Check back for more info from Ford’s first quarter conference call. Ford is also hosting its annual meeting on Thursday, May 8, where we should learn more about its EV plans and how it will navigate the new tariffs.
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