Volume Kia EV3 model will increase electric vehicle sales: CEO

South Korea’s Kia said on Friday that the volume production of the EV3 electric model will increase sales of electric vehicles in the market.

Song Hoo-sung, Kia’s Chief Executive (CEO) officer said at the annual company meeting that it aims to improve EV sales by this year amid declining demand.

“Despite recent fluctuations in demand, the future of electric vehicles is undeniable. Leveraging the success of our EV6 and EV9 models. we are poised to introduce the EV3 this year.” said Song.

He said that the customers will soon have a viable option in its EV range. Kia, a subsidiary of Hyundai Motor, aims to sell 3.2 million vehicles in 2024, 3.5% more than the past year.

EV3 is in the center of these sales numbers which are scheduled to launch in the first half.

In terms of pricing, EV3 could start at 46.5 million won ($35,000) and it could reduce even further with government subsidies at an estimated 30 million won ($22,540).

Song also hopes for a near upstream in market demand.

“The EV market is experiencing a temporary slowdown in demand but the era of EV will come sooner or later,” he said.

Upcoming Vehicles:

Kia has plans to release 15 electric models between $30,000 and $80,000 by 2027. In October 2023, the company showcased its EV3 and EV4 electric sedan in the EV lineup. Both of these concepts aim at a budget-friendly EV market.

The carmaker also plans to cut prices further with EV1 and EV2 entry-level models at $30,000.

(source – Koreanherald)