In
a presentation to reporters, Kia said it planned to launch the
EV5, the third dedicated EV in its line-up after the EV6 and
EV9, in South Korea in 2025.
Production of the EV5 will take place in China and South Korea,
Kia said, adding it would have different battery types in those
two markets.
EV5s sold in China would use lithium-phosphate-iron (LFP)
batteries, while those in South Korea would have more expensive
nickel-cobalt-manganese (NCM) batteries, said Kia President Song
Ho Sung.
The EV5 in China would have a maximum driving range of 720 kms
(447 miles) based on City Light Test Cycle (CLTC) standards, Kia
said in a statement, adding the model would offer fast-charging
capability, allowing the battery to be charged from 30% to 80%
capacity in 27 minutes.
Kia did not disclose the detailed driving range of the EV5 for
South Korea, adding it would be tailored to meet market demands.
“The EV market is expanding from one catering to the smaller
early-adopter group to a more broader mass majority of customers
... Our competitive, growing EV line-up will accelerate the
popularization of electric vehicles and provide consumers with
more options from which to choose,” said Spencer Cho, head of
the Global Business Planning Sub-Division at Kia.
Analysts said Kia's push to launch more affordable EVs was
timely.
"While those early adopters have preferred more expensive
premium electric vehicles, as EVs have become more popular among
more general public, consumer needs for more affordable EVs have
significantly grown," said Lee Jae-il, an analyst at Eugene
Investment & Securities.
(Reporting by Heekyong Yang; Editing by Sharon Singleton and
Mark Potter)
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