The all-new Kia EV3 can now be ordered in its home country of South Korea. This means that, for the first time, we get a peek at the pricing strategy for Kia’s entry-level, affordable electric subcompact crossover.
Orders for the all-new Kia EV3 opened today in South Korea with a starting price of approximately $30,800 (KRW 42.08 million) for the Standard trim with the smaller, 58.3-kilowatt-hour battery pack.
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The race for affordability
People need more affordable options in the EV space, and the new Kia EV3 promises to be one of them. General Motors is also working on a couple of budget-oriented battery-powered cars, with the Equinox EV already shipping and the next-gen Bolt EUV under development.
As expected, it's not a bad deal at all for anyone seeking an electric crossover that won't break the bank.
The Long Range version starts at around $34,100 (KRW 46.66 million) and comes with the bigger, 81.4-kWh battery pack that has a WLTP-rated maximum travel distance of 347 miles (560 km).
EPA range estimates for U.S.-spec cars are not yet available, but Kia said that it’s aiming for a range of around 300 miles stateside. Pricing-wise, we don’t know how much the subcompact EV will cost in the U.S., but we can use the bigger Kia EV6 to get some idea.
Car prices often very wildly from market to market thanks to various factors like tariffs, local taxes, production costs and more. But in Korea, the base EV6 Light Long Range goes for the equivalent of $40,550 (KRW 55.4 million), while the same powertrain has a starting price of $45,950 in the United States. That’s a $5,400 difference.
Meanwhile, the slightly larger Niro EV starts at roughly $37,500 (KRW 51.14 million) in its home country, while people in the U.S. can get it for a base MSRP of $39,600–a difference of $2,100. In other words, none are terribly far off of U.S. prices.
Putting two and two together makes us believe that the EV3 will have a starting price of around $33,000 to $36,000. That’s right in line with Kia’s previous estimate of around $35,000 for the American market and nearly identical to the $34,950 MSRP of its biggest competitor, the Volvo EX30. Bear in mind, however, that the official price for the Kia EV3 in North America still doesn’t exist yet, so take these estimates with a grain of salt.
Ideally, the EV3 would be a great candidate for the assembly lines at parent company Hyundai Motor Group’s manufacturing facility in Georgia, enabling it to be eligible for the $7,500 federal tax credit. Unfortunately, Kia didn’t say anything about building the EV3 in the U.S., so it's unlikely that buyers will benefit from the incentive when purchasing (leasing could still get you the tax credit, though.)
