$60K Kia EV5 to target Tesla Model Y and Toyota RAV4 Hybrid
Kia’s new entry-level electric SUV will offer a competitive entry point and generous equipment levelsKia Australia has confirmed the forthcoming all-new 2024 Kia EV5 electric mid-size SUV will anchor its EV range on price, with a starting figure close to $60,000 before on-road costs.
Following in the wheel tracks of the Kia EV6 and the larger EV9, the EV5 is scheduled to arrive mid-year.
It will be available initially in two trim levels – Air and Earth – across Standard and Long Range batteries plus front-drive and all-wheel drive layouts. A third GT-Line model will arrive in the fourth quarter of 2024.
Kia Australia officials are bullish about the sales potential of the new EV5, confirming allocation of about 10,000 units annually as they prepare to lock horns with the top-selling Tesla Model Y and even the Toyota RAV4 Hybrid.
Speaking with carsales during a recent first look of the EV5, Kia Australia product planning boss Roland Rivero said the newcomer had the ability to compete with both battery-electric and combustion-engined options – such is its broad appeal.
“Our sales plan has all been done to ensure the EV5 undercuts the Tesla Model Y. It could be in the low $60,000-mark plus on-road costs,” Rivero said.
“It even has the potential to tap in ICE rivals, or for customers waiting too long for a hybrid SUV – bring them over to the Kia brand.
“We’re talking about our competitor hybrid SUV [the RAV4].”
Kia Australia chief executive Damien Meredith declared the EV5 had the capacity to truly democratise the electric car in Australia.
“It’s in the biggest segment for sales in Australia, the ride and handling is really important and we want to get the pricing right,” he said.
“If we can do that, it will give you the democratisation of EV cars, specifically this one.”
Kia Australia marketing general manager Dean Norbiato added the EV5 would take Kia’s electrification journey on a new direction in Australia.
“We’ve had the EV6, and it’s done what it’s done for electric performance, we’ve had the EV9, which has done what it’s done for electric luxury … this will be our volume and brand-building EV,” he said.
The Australian-specification EV5 will be sourced from China, in a move which ensures earlier and freer-flowing allocation, according to officials.
It will be fitted with a less-effective 400V electrical architecture compared with the ultra-rapid-charge 800V systems fitted to EV6 and EV9. The EV5 will also debut cheaper LFP (lithium iron phosphate) battery technology, which is said to be more effective at charging.
According to Kia Australia’s chief engineer Graeme Gambold, the EV5 will not compromise on ride and handling quality.
“The car drives quite well. It’s not in the realm of an EV6 in terms of that sporty dynamic, but more like a shrunken-down EV9,” he explained.
“We went to China in November and undertook some ride and handling tuning and then brought the same team of people back to Australia and covered tuning on our roads.
“On some of our other products we don’t really get that level of attention unless we identify a problem and Kia sends someone out to recalibrate something.
“With this car we got our own calibration on pretty much everything.”
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