Sunday, April 21, 2024
NewsKia EV5 Looks to Undercut Tesla Model Y Pricing

Kia EV5 Looks to Undercut Tesla Model Y Pricing

Expect the new little Kia EV to be a big deal

  • Kia looking to out-match Tesla in small EV SUVs.

  • EV5 headed to Canada and the US.


Kia’s upcoming EV5 electric SUV is expected to be a big hit for the brand. Kia Australia is expecting to sell six times the volume of the EV6 thanks to a new small crossover with very ambitious price targets.

The first signs of the Kia EV5 come from down under (via Drive AU). The report says that it will be very ambitiously priced, starting at less than $70,000 for the basic Air model.

If that sounds expensive, it’s because the smaller RHD Australian market pays more for cars and includes taxes in the price. For comparison’s sake, the Tesla Model Y is the best-selling EV in the country, and it starts from $70,500 drive away, using the same method.

In Canada, the Model Y wears a price tag of $54,990. The EV6, which this model is also expected to undercut, starts from $47,495. So expect a Canadian-bound EV5 to come in under both figures.

Aussie Kia EV5 models will get either a 64 kWh or 88 kWh battery that uses lithium-iron phosphate chemistry, and front and AWD will be offered. It’s too early for range figures for the new models.

“It needs to be competitive up against Model Y. The aim is to target mainstream type of [sales] volumes,” Kia Australia general manager of product planning, Roland Rivero told Drive at a local preview of the EV5.

The Kia EV5 is built in China, which could be one of the sticking points for bringing it to North America. It lowers costs, which helps the vehicle, but an EV and its battery need to be built in North America to qualify for the substantial federal EV incentives in the US. Still, the car has been confirmed for sales in Canada, where incentives do not mandate country of origin.

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