Summary
– Kia has introduced the new EV3 subcompact electric crossover, aimed at the affordable EV market
– The Niro EV, which is slightly larger than the EV3, has a smaller battery and is still in production
– Kia plans to continue selling both models, believing that customers preferring the Niro will choose the hybrid version
– The Niro EV has sold over 200,000 units globally since its introduction in 2018
– The Niro EV starts at $40,925, while the EV3 is expected to be priced between $35,000 and $45,000
Article
With the international launch of the all-new Kia EV3 subcompact electric crossover, the South Korean automaker is aiming for a new slice of the market–that of the affordable EV. However, Kia already has the Niro EV in that segment. It has a smaller battery than the newly introduced subcompact crossover. So what will happen now that two models from the same manufacturer will compete for the same loaf of bread? In short, nothing, as Kia explained, they will continue to sell both models due to different customer preferences. The Niro typically attracts customers who prefer the hybrid version, while the EV3 will target hardcore EV enthusiasts.
The all-new Kia EV3 is the South Korean automaker’s smallest model based on its modular E-GMP platform and boasts the latest tech and efficiency improvements. By contrast, the older Niro EV is still going strong on Kia’s old combustion platform. Despite being just a few inches longer than the EV3, the Niro EV has a larger wheelbase and 64.8-kilowatt-hour battery capacity compared to the new EV3 with an 81.4-kWh pack. Kia plans to keep both models in the lineup targeting different customer preferences. While the Niro hybrid is expected to continue appealing to customers who prefer the safety net of a gas tank, the EV3 will be geared towards hardcore EV enthusiasts.
Kia has never disclosed sales figures for the Niro in the US, but reports suggest that the fully electric Niro has amassed over 200,000 global sales since 2018. The current Niro EV, which is slightly larger and has a larger battery capacity compared to the EV3, has a starting price of $40,925, making it slightly more expensive than the Niro Plug-In Hybrid and Niro hybrid. It is expected that the EV3 will be priced between $35,000 to $45,000, making it slightly more affordable than the Niro EV. Kia expects that customers who prefer the safety net of a gas tank will opt for the Niro hybrid, while hardcore EV enthusiasts will choose the EV3.
Kia’s decision to keep both models in the lineup is based on the fact that the Niro typically attracts customers who prefer the hybrid version, while the EV3 will be aimed at hardcore EV enthusiasts. The Niro EV has garnered over 200,000 global sales since its introduction in 2018, but specific sales figures for the US market have not been disclosed. The Niro EV has a larger size and battery capacity compared to the EV3, which is expected to be priced slightly lower than the Niro EV. Kia’s pricing strategy for both models aims to cater to different customer preferences and price points in the EV segment.
The South Korean automaker believes that there will be a place for both the Niro and EV3 in the market due to different customer tastes and preferences. The Niro EV, slightly larger and pricier than the upcoming EV3, will continue to attract customers who prefer the hybrid version over the all-electric model. Meanwhile, the EV3 will target hardcore EV enthusiasts with its smaller size and more affordable price point. Kia has not disclosed specific sales figures for the Niro EV in the US but plans to continue selling both models to cater to a diverse range of customer preferences in the affordable EV segment. Customers can expect the EV3 to hit the US market later this year, offering the latest in electric vehicle technology and efficiency improvements.
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