Kia launched its new entry-level urban EV on Thursday. As its cheapest electric model, the Kia Ray EV racked up 6,000 pre-orders in Korea with a starting price of around $20,400 (27.35 million won).
As demand for affordable all-electric options continues climbing, Kia is bringing back the Ray EV.
The Ray EV was Kia’s (and Korea’s) first 100% electric production car, introduced in 2011. As a close relative to the gas-powered Ray CUV, the model “marked a new era in Korean motoring.”
However, the mini electric car was discontinued in 2018 amid the nation’s lack of charging infrastructure and the vehicle’s limited range (86 mi / 139 km).
Electrek first heard Kia was planning to revive the Ray EV after an official told the Korean Economic Daily the new model “is the best choice for customers waiting for an entry electric minicar.”
Kia Ray EV pre-orders exceed 2023 target
Pre-orders for the new Ray EV began on August 24, and today, Kia revealed it has gathered over 6,000 interested customers.
Kia says the number already exceeds its target of 4,000 for the entire year by 50%. Powered by a 35.2 kWh LFP battery and improved aerodynamics, the new Ray EV achieves up to 127 miles (205 km) of range. When traveling in the city, the figure bumps up to 144 miles (233 km).
Although it may not seem like a lot compared to new EVs in the US, the Ray EV is designed for city travel. It takes around 40 minutes to charge from 10% to 80% with a 150 kW fast charger.
The Ray EV’s electric motor has a maximum output of 64.3 kW (86 hp) and 147 N m of maximum torque. Again, it may seem tiny in the US, but those numbers are 15% and 55% higher than the ICE version, respectively.
Inside, all seats can be folded flat, creating a spacious open-air environment. A dedicated “utility mode” enables electric devices, like air conditioning and audio, to be used while not driving for extended periods. The feature can be used for work, camping, resting, and more.
Kia Ray (Source: Kia)
The new Kia Ray EV starts at 27.35 million won ($20,400) for the 1-seater variant. Other options include:
Kia Ray EV trim
Cost
USD
4-seater
Light: 27.75 million won Air: 29.55 million won
$20,700 $22,000
2-seater
Light: 27.45 million won Air: 27.95 million won
$20,500 $20,850
1-seater
Light: 27.35 million won Air: 27.80 million won
$20,400 $20,700
New Kia Ray EV price (Source: Kia)
The launch comes as automakers and startups are releasing cheaper electric models to grab market share.
With around 80% of the auto market in Korea, the Hyundai Motor Group, including Kia and Genesis, looks to protect its share from incoming competitors like cheaper EVs from China.
Nissan’s Sakura electric mini car looks like a “game changer” for the Japanese market, starting at 2,333,100 yen ($16,000). Nissan announced at the end of July that Sakura gathered over 50,000 pre-orders.
Industry sources predict the new Ray EV will help boost South Korea’s minicar segment, forecasting it will be a top-ten best-selling car.
Kia is expanding its lineup with plans to offer an EV in every segment, including the Niro EV, EV6, EV9, EV5, and expected EV4.
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LiveWire, the electric motorcycle brand spun out of Harley-Davidson, has just announced its latest electric motorcycle model. The new LiveWire S2 Alpanista is built on the same platform as the brand’s last two models, leveraging the Arrow platform as a versatile foundation for several diverse bikes.
The Arrow platform first received its debut with the LiveWire S2 Del Mar, which was then followed by the S2 Mulholland.
LiveWire announced that a high-performance electric maxi-scooter would be produced on the Arrow platform, but not before the company rolled out the S2 Alpinista. “The Alpinista is LiveWire’s first sport standard,” explained the company, “equipped with 17” wheels and tires, blending the best of street, sport, and hyper-tourer characteristics.”
The recently unveiled S2 Alpinista is mechanically quite similar to the two previous models sharing the platform. The 10.5 kWh battery that serves as the main structure of the bike will offer a maximum range of 120 miles (193 km) per charge under city riding conditions. It can be recharged with a Level 2 charger from 20-80% in just 1 hour and 20 minutes.
The 433 lb (196 kg) bike can achieve a 0-60 mph (0-96 km/h) time of just 3.0 seconds, thanks to its powerful 63 kW (84 hp) motor. The S2 Alpinista can also reach an electronically limited top speed of 99 mph (159 km/h).
Priced at US $15,999 and already available at LiveWire dealerships in North America and Europe, the S2 Alpinista officially becomes the most affordable LiveWire electric motorcycle available to date, undercutting the $16,249 S2 Del Mar electric street tracker and the $16,499 Mulholland electric sport cruiser.
“Alpinista reimagines the S2 by combining the urban agility of a supermoto with the do-it-all nature of a touring bike, creating a practical and thrilling sport standard,” explained the brand.
The smaller 17″ wheels help reduce the seat height of the bike, and combined with the Dunlop Roadsmart IV tires, the street-optimized bike is ideal for “both daily commutes and spirited rides through winding roads.”
The S2 Alpinista comes with 6-axis IMU from Bosch providing cornering-enhanced antilock braking and cornering-enhanced traction control systems, in addition to four preset ride modes and two custom modes.
Now the third model launched on the Arrow platform, the S2 Alpanista underscores the versatility of LiveWire’s workhorse. The approach was intended to allow the e-motorcycle offshoot to quickly innovate with multiple styles of motorcycles all sharing key structural and drivetrain components. The move has largely been seen as an engineering success, with three models hitting the road in under three years. However, sales have yet to reach targets set by LiveWire as the more premium electric motorcycle industry has experienced a rocky few years.
As a LiveWire S2 Del Mar owner myself, I can attest to both the performance and enjoyable experience of bikes built on the platform, though I do find myself in a somewhat smaller community than LiveWire had likely hoped for. With the backing of its powerful older brother H-D, which retains a controlling stake in the company, LiveWire has enjoyed the relative freedom to cruise for its first few years and focus on motorcycle development and rollouts, with profitability hopefully coming over the horizon in due time.
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British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024.
Nurphoto | Nurphoto | Getty Images
British oil major BP on Thursday said it is planning to cut thousands of jobs as part of a major cost-reduction exercise.
“Today, we have today told staff across bp that the proposed changes that have been announced to date are expected to impact around 4700 bp roles – these account for much of the anticipated reduction this year,” BP said in a statement.
“We are also reducing our contractor numbers by 3000,” the company said.
The measures, which were designed to lower costs, come after BP CEO Murray Auchincloss said last year that the company intends to deliver at least $2 billion of cash savings by the end of 2026.
BP’s workforce currently stands at around 87,800.
Shares of the company traded 1.4% higher on Thursday morning.
Strategy in focus
BP has underperformed its European rivals of late as energy market participants continue to question the firm’s investment case.
In a trading update published Tuesday, BP said weaker refinery margins and turnaround activity will deliver a $100 million to $300 million blow to its fourth-quarter profit, while further declines are expected in oil production.
The energy firm is scheduled to report quarterly and full-year earnings on Feb. 11.
BP said in the same update that it had postponed an event for investors next month so that its chief executive can fully recuperate from a “planned medical procedure.” Auchincloss was said to be “recovering well” from the procedure, which had not been previously disclosed.
The capital markets event, which had previously been scheduled to take place in New York on Feb. 11, will now take place in London on Feb. 26.
— CNBC’s Ruxandra Iordache contributed to this report.
On today’s episode of Quick Charge we explore the uncertainty around the future of EV incentives, the roles different stakeholders will play in shaping that future, and our friend Stacy Noblet from energy consulting firm ICF stops by to share her take on what lies ahead.
We’ve got a couple of different articles and studies referenced in this forward-looking interview, and I’ve done my best to link to all of them below. If I missed one, let me know in the comments.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
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