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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Texas-based tuning firm Vigilante 4×4 is known for its wild, high-horsepower Jeep SJ Hemi restomods – but they’re more than just a hot rod shop. To prove it, they’ve developed a bespoke, all-electric skateboard chassis designed to turn the classic Jeep Grand Wagoneer into a modern, desirable electric SUV.
The scope of the Vigilante 4×4 electric chassis project is truly impressive. More than just a Jeep SJ frame with an electric drive train bolted in, the chassis is a completely fresh design that utilizes precise 3D scans of the original SJ Wagoneers, Grand Wagoneers, and J-Trucks to establish hard points, then fitted with low-slung battery packs to give the electric restomods superior weight balance, a lower center of gravity, and objectively improved ride and handling compared to its classic, ICE-powered forefathers.
The result is a purpose-built platform that delivers power to the wheels through a dual-motor system – one mounted in the front, and one at the rear – to provide a permanent, infinitely variable four-wheel drive system that offers both on-road performance and the kind of off-road capability that made the Grand Wagoneer famous in the first place.
Vigilante 4×4 electric Jeep SJ
“This isn’t a replacement for our Vigilante HEMI offerings,” reads the official copy. “It’s a total revisit of the Vigilante platform under electric power.”
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The company emphasizes that its new chassis is still in the prototype stages. As such, there are no specs, there is no pricing, there are no range estimates. Despite it all, the response from Jeep enthusiasts has already been strong. “Keep in mind this is our first prototype,” a spokesperson said. “There’s still a lot of work to be done – but the journey has begun.”
Electrek’s Take
Electric SJ chassis; Vigilante 4×4.
Retro done wrong – think the Dodge Charger Daytona EV or VW ID.Buzz – is a disaster. Always. If that nostalgic tone is just a little bit off, the song doesn’t work. The heartstrings don’t pull. Done right, however, the siren song of nostalgia will have you putting a second mortgage on your house to put a Singer Porsche or ICON Bronco in your garage.
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EQORE, a distributed battery storage startup based in Somerville, Massachusetts, has raised $1.7 million in seed funding to help industrial buildings tackle rising electricity costs. The round was oversubscribed and includes backing from the Massachusetts Clean Energy Center (MassCEC), Henry Ford III of Ford Motor Company, and Jonathan Kraft of The Kraft Group.
The timing couldn’t be more relevant. Data centers are booming, and that demand is slamming an already stressed grid. Big, utility-scale batteries help at the grid level, but they can’t fix the bottlenecks happening on local distribution networks. That’s where onsite storage steps in — storing energy when demand is low and discharging it when demand spikes, which helps stabilize costs for both the grid and the businesses using it.
MassCEC’s head of investments, Susan Stewart, said, “What excites us the most about EQORE’s technology is the dual impact: grid support and customer savings.” She noted that commercial and industrial buildings are ideal hosts for battery storage, but haven’t gotten much attention until now. “EQORE is closing that gap.”
Investor Randolph Mann highlighted what makes the company stand out: “By uniting advanced controls with high‑resolution metering and true end‑to‑end service, EQORE finally makes commercial behind-the-meter storage effortless and financially compelling for businesses.”
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EQORE comes out of MIT’s Sandbox program and delta v accelerator and is currently part of the Harvard Climate Entrepreneurs Circle incubator. CEO and cofounder Valeriia Tyshchenko, a third‑generation engineer from Ukraine and MIT graduate, said the new funding will help the company scale alongside its existing revenue.
With the seed round closed, EQORE plans to grow its team and ramp up battery deployments at energy-intensive manufacturing facilities. The company doesn’t just install batteries; it operates them. Its autonomous software shifts when a facility uses power based on market conditions and utility incentives, reshaping load in real-time without disrupting operations.
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Hyundai took the sheets of its new off-road electric SUV, the Crater Concept, at the LA Auto Show. Here’s our first look at the compact off-roader.
Meet Hyundai’s new off-road SUV, the Crater Concept
We knew it was coming after Hyundai teased the off-road SUV earlier this week, hidden under a drape. Hyundai took the sheets off the Crater Concept at the LA Auto Show on Thursday, giving us our first real look at the rugged off-roader.
Hyundai refers to it as a compact off-road SUV that’s inspired by extreme events. The concept was brought to life at the Hyundai America Technical Center in Irvine, California.
The off-road SUV draws design elements from Hyundai’s Extra Rugged Terrain (XRT) models, such as the IONIQ 5 XRT, Santa Cruz XRT, and the new Pallisade XRT Pro.
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Although it’s a concept, Hyundai said the Crater Concept is a testament to its commitment to designing future XRT vehicles that are more functional, more capable, and more emotional.
The Hyundai Crater off-road SUV Concept (Source: Hyundai)
“CRATER began with a question: ‘What does freedom look like?’ This vehicle stands as our answer,” Hyundai’s global design boss, SangYup Lee said.
The off-road SUV features Hyundai’s new Art of Steel design theme, first showcased on the THREE concept at the Munich Motor Show in September.
The Hyundai Crater Concept (Source: Hyundai)
Hyundai said the design team was guided by one clear goal: To create a rugged and capable vehicle that’s designed to go anywhere. The Crater Concept embodies that vision with added wide skid plates, 33″ off-road tires, limb risers, rocker panels, and a roof platform.
Hyundai designed the interior for “tech-savvy adventure seekers,” with a singular design centered around a high-brow crash pad that stretches across the dashboard.
The Hyundai Crater Concept (Source: Hyundai)
The concept also swaps the traditional infotainment setup for a head-up display that spans the entire front window, which Hyundai said includes a live rearview camera.
Hyundai’s off-roader includes a new Off-Road Controller for front and rear locking differentials, as well as a terrain selector with modes including Sand, Snow, and Mud. Other off-road features include downhill brake control, trailer brake control, a compass, and an altimeter.
Although Hyundai said it was electric, it didn’t reveal any further details about the powertrain. The off-road SUV could be a battery-electric or fuel-cell-electric vehicle.
Like the new Nexo, Hyundai’s hydrogen fuel cell vehicle, the concept features “HTWO” lamps exclusive to its FCEVs.
Earlier this week, the design team at Hyundai Design North America also introduced its new design and ideation studio codenamed “The Sandbox.” The creative design studio is set to serve as a global hub for future XRT vehicles and gear.
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