With Earth Day just around the corner, it’s an electric week at Auto123 as we turn the lights towards noteworthy developments in the EV segment.
- Kia is moving ahead quickly with the EV3 concept, with a production version expected before the end of this year.
With Earth Day just around the corner, it’s an electric week at Auto123 as we turn the lights towards noteworthy developments in the EV segment.
Recent weeks have seen some automakers postpone development or launch of some planned new electric models, mainly due to a slowdown in demand for them around the world.
Kia, however, is staying the course. At a recent investor day, the Korean automaker reaffirmed its intention to pursue ongoing projects and maintain its electrification objectives.
More precisely, Kia said we can expect the production version of the EV3 electric concept to see the light of day before the end of the year.
Recall that at the last Los Angeles Auto Show, Kia surprised many with the unveiling of two compact electric concepts, the EV3 and EV4.
Kia promises these two products will both be more affordable options in the EV segment, delivering exactly what the current electric vehicle market lacks: less expensive propositions.
Kia President and CEO Ho Sung Song says the company aims to become a “sustainable mobility solutions provider.” The Korean manufacturer still plans to sell 4.3 million units annually by 2030, compared with 3.2 million at present. It also believes that at that point, 58 percent (a rather precise number) of the models it will be selling worldwide will be electrified in one way or another.
Of course, to achieve this goal, the company needs to be aggressive, offering more affordable vehicles to compete with Chinese companies, among others.
In China, Kia already offers the EV5, which should reach the European market this year. The company has also talked of a yet-to-be-revealed model called the EV2. Its name clearly indicates a model smaller than the EV3, which means it likely is not earmarked for North America.
This year alone, the brand plans to introduce six models, followed by eight more electrified models by 2026 and nine more by 2028. Its complete range of EVs will include 15 models by 2027.
Six of these models will be launched by 2026, including the EV3. Although we've only seen the vehicle in concept form, its lines are in keeping with those of the brand's most recent products, including the larger EV9, which debuted this year. We can imagine a very similar signature for the small SUV.
The EV3 will use the same E-GMP (Electric-Global Modular Platform) that serves the EV6 and EV9, but its electrical architecture will be 400 volts rather than 800 volts - a question of cost. Analysts believe the model could be offered for around $30,000 USD.
One caveat: The company declined to confirm to Insideevs site whether the EV3 is coming to North America. At the same time, the fact that it was presented at the Los Angeles Auto Show makes us think it will.
One thing's for sure: the first companies to really offer affordable electric vehicles are going to sell a lot of them. On the other hand, it will important that they can do so at a profit, so that the exercise can be financially sustainable.
We'll be keeping a very close eye on the EV3, because here’s a small vehicle with potential to be big in Canada.