Kia aims to reclaim Europe with EV2, keeps K4 output unchanged in Mexico

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Kia aims to reclaim Europe with EV2, keeps K4 output unchanged in Mexico - Korea Economic Daily

Quick Summary:

Kia Corp., South Korea’s second-largest carmaker, will start producing its entry-level electrified model EV2 from its plant in Slovakia next year to regain ground in Europe against its Chinese peers, which face up to 45% countervailing import duties in the region.

They include Kia, which sold about 490,000 units from January to November this year, an 8.1% drop from the same period last year.“Kia is expected to be the leading compact EV brand in Europe, offering drivers the most bang for their buck with the EV2, which will hit the market early next year, coupled with the recently released EV3,” said an unnamed official from Kia.

Global automakers have been rushing to introduce entry-level EVs to revive the eco-friendly automobile industry.Tesla Inc., the world’s No.2 EV manufacturer, plans to launch the Model Q, an affordable EV priced below $30,000 next year, while Toyota Motor Corp.recently launched the bZ3X, an electric compact crossover SUV, in China.