After the new EV5’s debut last week, we are finally learning the starting price of the compact electric SUV. And as a pleasant surprise – the Kia EV5 is much cheaper than initial expectations.
Kia EV5’s starting price will be around $22K in China
The EV5 will have a starting price of roughly $22,000 (159,800 yuan), Kia’s Chinese joint venture announced Tuesday (via The Korean Car Blog). It will be available November 17 in China.
Kia unveiled the new compact electric SUV last Friday at the Chengdu Motor Show. The automaker claims the EV5 “brings a new era of electric mobility to the compact SUV sector to meet the needs of millennial families.”
If you’ve seen Kia’s new flagship EV9, picture that in a compact form. The Kia EV5 features the brand’s new “Opposites United” design theme with a striking, aggressive stance.
The first thing you will notice is Kia’s new “Tiger Face” grille up front with “Star Map Lighting” formed by the daytime running lights, replacing the brand’s signature “Tiger Nose” found on older models.
With pushed-back D-pillars, Kia maximizes the interior space with versatility. The rear bench can fold completely flat to enable additional cargo space while more storage can be found under the floor.
Kia discovered millennials consider the inside of their electric SUV an additional room to live in rather than just a means of transportation. For this reason, Kia says the EV5’s interior is more closely related to a “home lounge than a traditional car cabin.”
At 4,615 mm long, 1,875 mm wide, and 1,715 mm tall, the EV5 is aimed squarely at Tesla’s Model Y in China (L – 4,760 mm, W – 1,921 mm, H – 1,624 mm).
Local reports expected the Kia EV5 to have a starting price of around $40,000 (300,000 yuan), which would have made it cheaper than the Model Y, starting at roughly $36,000 (263,900 yuan).
Kia’s new electric SUV, priced at $22,000 (159,800 yuan), significantly undercuts the Model Y and will help it compete in China’s aggressive EV market.
Electrek’s Take
$22,000 is an excellent starting price for the EV5. Kia will be competitive with China’s EV leaders like BYD and Tesla at those levels.
After Tesla and BYD cut prices earlier this year, a wave of automakers followed suit, making it tough to compete with diminishing margins.
The EV5 will be built in China, so it will help reduce unnecessary transportation costs. Meanwhile, Kia’s electric SUV is expected to use BYD’s Blade LFP batteries. The base version is expected to have more battery capacity than the EV6 at around 82 kWh. Kia has yet to confirm this, however.
Leaked MIIT information earlier this month showed the Chinese model will be powered by a single 214 hp electric motor with 310 Nm max torque. A longer range variant is expected to arrive with over 600 km (373 miles) of CLTC driving range.
The new EV5 compact electric SUV will sit between the Niro EV and EV6 in the automaker’s lineup.