Kia's EV3 compact SUV / Courtesy of Kia Kia, Stellantis, BYD toughen rivalry in low-priced EVs By Lee Min-hyung Competitions are stoking among carmakers to gain the upper hand in the burgeoning domestic market for compact electric vehicles (EVs), with more import brands moving to offer drastic discounts for their latest vehicles, according to data and auto industry officials, Wednesday. The officials said carmakers here and abroad are shifting their strategic focus onto revving up EV sales with cheaper lineups, as a tactic to overcome a global chasm in the EV industry. Among the contenders, Kia's EV3 compact SUV is showing off a strong presence with its price competitiveness.
Customers can purchase the cheapest trim of the vehicle at 32.9 million won ($23,750) in Seoul. Kia has achieved more than 10,000 EV pre-orders in about three weeks.
The carmaker expects the EV3 to drive the popularization of EVs here. Challenging the EV3's presence is Stellantis Korea, which operates car brands, such as Peugeot and Jeep. It is seeking to expand its footing by drastically cutting the prices of its EVs to compete with domestic rivals such as Kia and Hyundai Motor.
Peugeot's e2008 electric SUV / Courtesy of Stellantis Korea The company recently decided to reduce the Peugeot e2008 compact SUV by as much as 14 million won here, so as for the vehicle to directly compete with the EV3 and other low-cost EVs forthcoming from its competitors. After receiving the discount, customers can purchase t.