Kia Set To Unveil New Electric Vehicles Next Week In South Korea, Takes On Tesla's Model Y

Next week, Kia (OTC:KIMTF) is set to unveil new electric vehicles at their EV Day event in Yeoju, South Korea. The event will take place on October 12, promising more details on Kia’s new electric models.

The South Korean automaker announced that it will showcase “three new small to medium electric models” at the event, which is expected to become an annual tradition, Electrek reported. The event will provide a comprehensive overview of Kia’s EV lineup, including detailed specifications of the EV5, which was initially unveiled in August at the Chengdu Motor Show in China.

The EV5, an electric SUV aimed to rival Tesla Inc. (NASDAQ:TSLA)’s Model Y in China, is priced at around $22,000. The other two models are speculated to be a sporty electric sedan and a compact crossover. The compact crossover, potentially named EV3 or EV4, was recently caught testing in the U.S., showing a boxy design inspired by the EV9.

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The new electric vehicles will likely feature Kia’s digital cockpit with dual screens, similar to the EV5. The EV3 or EV4 is expected to be based on Hyundai’s new Integrated Modular Architecture (IMA), which will support 13 new dedicated EVs from the Hyundai, Kia, and Genesis brands.

Kia aims to sell 1.6 million EVs annually by 2030, with 15 new electric models by 2027. The company’s transformation strategy, initiated in 2021, appears to be paying off, as evidenced by its 14th consecutive month of year-over-year sales growth in the U.S. this September.

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