Kia's $30,000 EV3 Built in Mexico to Qualify for US EV Tax Credit

Kia to build the $30,000 EV3 in Mexico, unlocking the US EV tax credit. The EV3's affordability and advanced features are set to make a significant impact on the electric vehicle market.

Kia Unveils $30,700 EV3 at 2023 EV Day, Promising Affordability and Advanced Features

Kia unveiled the EV3 at its 2023 EV Day as part of a new lineup of affordable electric vehicles, per Electrek.

The EV3's starting price is approximately $30,700 (KRW 42.08 million) after the opening of orders in Korea earlier this month. Kia's third all-electric vehicle and the inaugural member of a new series, the EV3, "carves out its own identity" to distinguish itself in its segment despite incorporating significant design and technology from Kia's three-row EV9 in a smaller, more affordable vehicle. Kia's new "Tiger Face" grille, a contemporary interpretation of its iconic Tiger Nose design, is one of the first things noticed.

With a sophisticated electric powertrain, bold design, and innovative technology, Kia is confident that the EV3 will "elevate the perception of EV SUVs."

The EV3, based on Kia's fourth-generation battery technology and Hyundai's E-GMP platform (which also underpins the IONIQ 5 and Kia EV9), boasts a WLTP driving range of up to 373 miles (600 km) and rapid charging capabilities (10% to 80% in 31 minutes).

Kia's latest electric vehicle, the EV3, is designed to appeal to consumers still deciding whether to opt for an electric vehicle due to its rapid charging capabilities and extended range.

“It will reassure those who may have been hesitant to make the switch to electric mobility and will lead the mass adoption of EVs,” said Kia’s president and CEO, Ho Sung Song.

The interior is equipped with the most recent software and connectivity technologies. It comprises Kia's latest-generation Connected Car Navigation Cockpit (ccNc), featuring dual 12.3 displays and supporting Apple CarPlay/Android Auto.

Despite its smaller size, the EV3 is significantly less expensive than the EV9. Kia's EV9 is priced at $54,900 in the United States, which is still reasonable for a three-row electric SUV.

The EV3 is anticipated to be one of the most cost-effective electric vehicles in the United States, with a starting price of approximately $30,000 to $35,000.

Kia's EV3 Set to Rival Affordable EVs in US with Production in Mexico and Potential Tax Credit

According to data from Cox Automotive, the Nissan LEAF was the most affordable electric vehicle (EV) in the United States in Q1, with an average selling price of $27,956. The Nissan Ariya, Hyundai IONIQ 6, and Tesla Model 3 followed, with an average selling price of $35,556, $36,506, and $40,546, respectively.

Concurrently, the United States is set to receive several new, low-cost electric vehicles (EVs) this year, such as the Chevy Equinox EV ($34,995) and the Volvo EX30 ($34,950). The Korean Car Blog, a Korean auto media outlet, reports that Kia intends to construct the EV3 in Mexico. With the prospective $7,500 federal tax credit, EV3 prices could decrease to as low as $22,500 to $27,500.

Kia's Monterey facility in Mexico can produce up to 400,000 units. Currently, the K3 and Pride are being constructed there. As the report indicates, Kia intends to create 110,000 EV3 models annually at the facility.

The EV3 will be sold in North America and exported to Europe, while the Korean-made model will be sold domestically. Manufacturing is located in Mexico.

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