Kia announced during the recent CEO Investor Day event that it plans to launch the affordable EV3 as early as this year, demonstrating the South Korean automaker’s commitment to electric vehicles despite the slower-than-expected uptake.
Kia EV3 to Hit the Market in 2024
Kia has just confirmed plans to roll out the lower-cost production model of the compact EV3 Concept before the end of 2024. It is part of the company’s goal to boost its electric vehicle and hybrid offerings to compete in the global market, especially in China.
Some of these models are already available in concept form, including the EV3 and EV4. Meanwhile, the EV5 is already on sale in the world’s largest auto market and will soon arrive in Europe.
Kia also previously mentioned EV2 but has yet to unveil the model. It also plans to launch an electric counterpart of the Kia Carens, a cheaper seven-seat vehicle aimed at markets like India.
What’s Currently Known About the EV3?
Recent spy shots of the Kia EV3 revealed a rather toned-down electric vehicle appearance that still resembles the concept model’s proportions.
It will ride on the same E-GMP platform as the popular EV6 and EV9. However, it will not feature the same 800-volt architecture as its siblings. Instead, it will utilize a lower-cost 400-volt architecture to keep pricing down. This architecture is expected to help the company price the EV3 at the $30,000 threshold.
Kia Pushes Forward on EVs
Kia CEO and President Ho Sung Song expects the brand’s electrification push to advance its position as a “sustainable mobility solutions provider.” The South Korean automaker’s plans demonstrate its dedication to remaining competitive in the electric vehicle market despite the increasing concerns about declining demand.
Kia plans to introduce six hybrid vehicles before the end of 2024, another eight electrified models by 2026, and nine more by 2028. It expects to complete its EV lineup with 15 models by 2027. Notably, 6 of these EVs will launch by 2026, including the new EV3.
All these model launches are part of the brand’s strategy to sell 4.3 million units by 2030, with electrified vehicles accounting for 58% of that total.
Kia has yet to announce if the EV3 will also hit the US market. The brand’s electrification strategy is long-term despite the waning electric vehicle growth. Nonetheless, it tries to woo buyers in conventional ways, enabling them to grow along the brand.
