Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
Kia set to mass-produce EV4 to boost popularization of electric vehicles
Karim Habib, head of Kia Global Design, introduces the carmaker's electric vehicles at the company's event in Yeoju, Gyeonggi Province, Oct. 12, 2023. From left are the EV3, the EV5 and the EV4 concept models. Yonhap
By Lee Min-hyung
Kia will start mass-producing its next key strategic electric vehicle (EV) — the EV4 — next March, aiming to drive early popularization of EVs with the affordable addition, according to the company, Tuesday.
The carmaker initially planned to start production of the vehicle in 2024 but has adjusted the timeline due to falling EV sentiment triggered by a temporary demand stagnation before widespread adoption.
The EV4 will stand at the forefront in driving the carmaker’s EV sales along with the EV3 compact SUV. The EV3, launched in May this year, received a strong initial market response. According to data from the carmaker, sales for the EV3 came in at 1,975 in July, the highest among any other EVs manufactured by domestic carmakers.
The EV4 will compete with Tesla’s Model 3 in a similar segment. Kia set an annual production target of 70,000 EV4 vehicles. The carmaker also aims to produce more than 150,000 EVs — both the EV3 and EV4 — annually at its production line in Gwangmyeong, Gyeonggi Province.
“Kia will take the lead in popularization of EVs with the two key EV models,” Kia CEO Song Ho-sung told reporters earlier this year.
The EV4 will be the carmaker’s first EV sedan powered by its much-touted electric global modular platform, or E-GMP. The vehicle will share the same platform used in the EV3.
Kia has so far focused on launching electric SUVs on customers’ growing demand for SUVs rather than sedans. But the company aims to add the sedan model to build a complete EV family lineup.
The EV6 crossover SUV is one of the carmaker’s major EVs, and the company also launched its largest electric SUV, the EV9.
The company has yet to disclose any specifications for the upcoming EV model, but it is widely expected to generate a similar performance to the EV3. The EV3 long-range model can drive up to 105 kilometers on a single charge. The vehicle also boasts a rapid charging time. It takes only about 30 minutes for the EV3 to be charged from 10 percent to 80 percent with a quick charger.
Kia is also set to launch its EV5 all-electric mid-sized SUV next year.