Kia is ramping up electric vehicle benefits, including steep price cuts on its EV models. Kia said it aims to lower the burden of buying EVs and lead mass adoption in the domestic EV market.
Kia said on the 22nd that it will adjust prices for the EV5 and EV6 and expand its EV lineup to meet diverse customer demand. First, it cut the price of the EV5 long-range, a compact electric sport utility vehicle (SUV), by 2.8 million won. The EV5 long-range sells for 45.75 million to 50.6 million won, but when national and local EV subsidies and EV transition support are added, the effective purchase price falls to 37.28 million to 42.13 million won. The EV5 standard model is in the 34 million won range.
The EV6 price was also cut by 3 million won. The standard model is 43.6 million to 52.4 million won, and the long-range model is 47.6 million to 57 million won. Considering government and local subsidies and transition support, the standard model in Seoul drops to 35.79 million to 44.59 million won, and the long-range model to 38.89 million to 48.29 million won. Kia plans to sequentially launch high-performance EV models such as the EV3 GT, EV4 GT, and EV5 GT in the first half to strengthen product competitiveness.
In addition, to ease the burden of buying EVs, Kia will enhance benefits such as 0% range low-interest installment plans and residual value guaranteed balloon financing. When purchasing the EV3 or EV4 with the M Installment general plan (equal principal and interest repayment), a 0.8% rate applies for 48 months and 1.1% for 60 months. With the residual value guaranteed balloon plan, up to 60% of the residual value can be deferred, and early repayment fees are waived.
Kia also plans to improve customer convenience at the EV ownership and replacement stages. It will deploy more EV-specialized service technicians at service hubs nationwide and increase hubs capable of partial repairs of high-voltage batteries. It will also upgrade the comprehensive quality grading system for used EVs while enhancing benefits for customers who repurchase EVs.
A Kia official said, "We will strengthen customer benefits across all areas—from price, financing, and service to residual value—so that our EVs are the ones you want to try and, once experienced, keep coming back to," adding, "We will put customer satisfaction first and actively work toward mass adoption of EVs in Korea."